Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) (NYSE:EDN) Shares Pass Above 200-Day Moving Average – Time to Sell?

Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) (NYSE:EDN) crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $25.87 and traded as high as $31.45. Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) shares last traded at $30.1860, with a volume of 73,517 shares trading hands.

Analysts Set New Price Targets

Separately, Weiss Ratings reiterated a “hold (c-)” rating on shares of Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) in a report on Monday. Two equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $36.00.

Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) Trading Down 1.9%

The firm has a market cap of $1.37 billion, a P/E ratio of 7.22 and a beta of 1.81. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.86 and a current ratio of 1.04. The firm has a fifty day moving average of $31.17 and a 200-day moving average of $25.87.

Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) (NYSE:EDN) last issued its earnings results on Friday, November 7th. The utilities provider reported $0.67 earnings per share for the quarter. The firm had revenue of $536.96 million for the quarter. Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) had a return on equity of 11.33% and a net margin of 7.82%. Equities research analysts forecast that Empresa Distribuidora Y Comercializadora Norte S.A. will post 1.38 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of EDN. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) by 9.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 596,866 shares of the utilities provider’s stock worth $18,228,000 after purchasing an additional 52,478 shares during the last quarter. BNP Paribas Financial Markets grew its stake in shares of Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) by 634.5% in the second quarter. BNP Paribas Financial Markets now owns 277,104 shares of the utilities provider’s stock worth $7,340,000 after purchasing an additional 239,379 shares in the last quarter. Ping Capital Management Inc. increased its holdings in shares of Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) by 83.9% during the third quarter. Ping Capital Management Inc. now owns 50,400 shares of the utilities provider’s stock valued at $784,000 after purchasing an additional 23,000 shares during the period. Cubist Systematic Strategies LLC lifted its holdings in Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) by 141.2% in the first quarter. Cubist Systematic Strategies LLC now owns 39,031 shares of the utilities provider’s stock worth $1,192,000 after purchasing an additional 22,848 shares during the period. Finally, Tidal Investments LLC increased its stake in Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) by 28.9% during the 2nd quarter. Tidal Investments LLC now owns 18,496 shares of the utilities provider’s stock valued at $490,000 after buying an additional 4,152 shares during the period. 1.64% of the stock is owned by institutional investors and hedge funds.

Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) Company Profile

Empresa Distribuidora y Comercializadora Norte SA (Edenor) is Argentina’s largest electricity distribution company by customer base and network extension. Established in 1992 as part of the country’s energy sector privatization, Edenor holds the exclusive concession to distribute and sell electricity in the northern and northwestern areas of Greater Buenos Aires. The company’s shares are listed on the New York Stock Exchange under the ticker symbol EDN, reflecting its role as a key participant in Argentina’s regulated power market.

Edenor’s primary business activity is the purchase of high-voltage electricity from generators and its subsequent transformation, distribution and retail sale to end users.