Empresa Distribuidora y Cmrz Nrt (EDN) Lowered to “Hold” at Santander

Empresa Distribuidora y Cmrz Nrt (NYSE:EDN) was downgraded by equities research analysts at Santander from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Friday, The Fly reports.

Other equities research analysts have also issued research reports about the stock. Zacks Investment Research lowered shares of Empresa Distribuidora y Cmrz Nrt from a “hold” rating to a “sell” rating in a report on Wednesday, September 6th. BidaskClub upgraded shares of Empresa Distribuidora y Cmrz Nrt from a “hold” rating to a “buy” rating in a report on Saturday, August 26th. Three research analysts have rated the stock with a hold rating, one has given a buy rating and one has given a strong buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $35.00.

Empresa Distribuidora y Cmrz Nrt (NYSE:EDN) traded up $0.98 during mid-day trading on Friday, hitting $50.28. 97,700 shares of the stock were exchanged, compared to its average volume of 59,222. Empresa Distribuidora y Cmrz Nrt has a twelve month low of $25.00 and a twelve month high of $50.93. The company has a current ratio of 0.64, a quick ratio of 0.61 and a debt-to-equity ratio of 8.24.

Several hedge funds have recently added to or reduced their stakes in EDN. Envestnet Asset Management Inc. raised its holdings in shares of Empresa Distribuidora y Cmrz Nrt by 70.1% during the third quarter. Envestnet Asset Management Inc. now owns 4,170 shares of the utilities provider’s stock valued at $165,000 after acquiring an additional 1,718 shares during the period. Advisor Group Inc. raised its holdings in shares of Empresa Distribuidora y Cmrz Nrt by 114.6% during the second quarter. Advisor Group Inc. now owns 6,725 shares of the utilities provider’s stock valued at $214,000 after acquiring an additional 3,591 shares during the period. Belpointe Asset Management LLC acquired a new position in Empresa Distribuidora y Cmrz Nrt in the 3rd quarter valued at approximately $239,000. PointState Capital LP acquired a new position in Empresa Distribuidora y Cmrz Nrt in the 2nd quarter valued at approximately $474,000. Finally, Renaissance Technologies LLC increased its stake in Empresa Distribuidora y Cmrz Nrt by 39.6% in the 1st quarter. Renaissance Technologies LLC now owns 15,000 shares of the utilities provider’s stock valued at $522,000 after buying an additional 4,255 shares during the period. Institutional investors and hedge funds own 6.39% of the company’s stock.

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Empresa Distribuidora y Cmrz Nrt Company Profile

Empresa Distribuidora y Comercializadora Norte SA is a public service company. The Company is engaged in electricity distribution in Argentina. It holds a concession to distribute electricity to the northwestern part of the greater Buenos Aires metropolitan area and in the northern part of the City of Buenos Aires.