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

Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) (NYSE:EDN)’s share price crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $28.20 and traded as high as $28.40. Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) shares last traded at $27.7870, with a volume of 69,003 shares traded.

Analysts Set New Price Targets

Several analysts recently weighed in on EDN shares. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) in a report on Friday, March 27th. Zacks Research upgraded shares of Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) to a “hold” rating in a research note on Thursday, May 14th. Finally, Wall Street Zen upgraded shares of Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) from a “sell” rating to a “hold” rating in a report on Sunday, March 22nd. Three research analysts have rated the stock with a Hold rating, According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $36.00.

Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) Stock Up 1.4%

The company has a quick ratio of 1.00, a current ratio of 1.19 and a debt-to-equity ratio of 0.31. The stock has a market cap of $1.26 billion, a PE ratio of 5.15 and a beta of 1.44. The firm has a fifty day moving average of $26.16 and a 200 day moving average of $28.20.

Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) (NYSE:EDN) last announced its quarterly earnings results on Sunday, February 15th. The utilities provider reported $0.80 earnings per share (EPS) for the quarter. The company had revenue of $525.20 million during the quarter. Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) had a return on equity of 13.79% and a net margin of 10.25%. On average, equities research analysts anticipate that Empresa Distribuidora Y Comercializadora Norte S.A. will post 0.25 EPS for the current fiscal year.

Institutional Investors Weigh In On Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor)

Several hedge funds and other institutional investors have recently made changes to their positions in EDN. Millennium Management LLC acquired a new position in Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) in the fourth quarter valued at approximately $366,000. State of Wisconsin Investment Board acquired a new stake in Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) during the fourth quarter worth approximately $473,000. Jane Street Group LLC acquired a new stake in Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) during the fourth quarter worth approximately $468,000. Goldman Sachs Group Inc. lifted its position in shares of Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) by 51.9% during the 4th quarter. Goldman Sachs Group Inc. now owns 80,414 shares of the utilities provider’s stock worth $2,409,000 after buying an additional 27,486 shares during the last quarter. Finally, Tidal Investments LLC lifted its position in shares of 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 worth $490,000 after buying an additional 4,152 shares during the last quarter. Institutional investors and hedge funds own 1.64% of the company’s stock.

About Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor)

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.