Empresa Distribuidora y Comercializadora Norte Sociedad Anónima (NYSE:EDN) Shares Gap Up to $16.73

Empresa Distribuidora y Comercializadora Norte Sociedad Anónima (NYSE:EDN) shares gapped up before the market opened on Friday . The stock had previously closed at $16.73, but opened at $17.11. Empresa Distribuidora y Comercializadora Norte Sociedad Anónima shares last traded at $17.04, with a volume of 1,180 shares.

Wall Street Analysts Forecast Growth

Separately, StockNews.com downgraded Empresa Distribuidora y Comercializadora Norte Sociedad Anónima from a “buy” rating to a “hold” rating in a research report on Wednesday, May 22nd.

Empresa Distribuidora y Comercializadora Norte Sociedad Anónima Price Performance

The company has a debt-to-equity ratio of 0.18, a current ratio of 0.79 and a quick ratio of 0.67. The company has a 50-day moving average price of $17.45 and a 200-day moving average price of $17.97. The firm has a market capitalization of $742.84 million, a PE ratio of 2.59 and a beta of 1.51.

Empresa Distribuidora y Comercializadora Norte Sociedad Anónima (NYSE:EDN) last issued its quarterly earnings data on Friday, May 10th. The utilities provider reported $1.39 earnings per share (EPS) for the quarter. Empresa Distribuidora y Comercializadora Norte Sociedad Anónima had a return on equity of 25.90% and a net margin of 14.11%. The business had revenue of $331.11 million for the quarter. Sell-side analysts forecast that Empresa Distribuidora y Comercializadora Norte Sociedad Anónima will post -4.42 EPS for the current year.

Hedge Funds Weigh In On Empresa Distribuidora y Comercializadora Norte Sociedad Anónima

Institutional investors have recently added to or reduced their stakes in the business. Helikon Investments Ltd increased its stake in Empresa Distribuidora y Comercializadora Norte Sociedad Anónima by 10.1% in the fourth quarter. Helikon Investments Ltd now owns 299,317 shares of the utilities provider’s stock valued at $5,798,000 after purchasing an additional 27,578 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its stake in Empresa Distribuidora y Comercializadora Norte Sociedad Anónima by 45.0% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 108,039 shares of the utilities provider’s stock valued at $2,093,000 after purchasing an additional 33,510 shares during the last quarter. Autonomy Capital Jersey L.P. acquired a new stake in Empresa Distribuidora y Comercializadora Norte Sociedad Anónima during the third quarter worth about $78,000. Finally, BNP Paribas Financial Markets increased its stake in Empresa Distribuidora y Comercializadora Norte Sociedad Anónima by 1,488.0% during the first quarter. BNP Paribas Financial Markets now owns 3,176 shares of the utilities provider’s stock worth $56,000 after acquiring an additional 2,976 shares during the last quarter. 1.64% of the stock is currently owned by institutional investors and hedge funds.

About Empresa Distribuidora y Comercializadora Norte Sociedad Anónima

Empresa Distribuidora y Comercializadora Norte Sociedad Anónima is involved in the distribution and sale of electricity in Argentina. The company was incorporated in 1992 and is based in Buenos Aires, Argentina. Empresa Distribuidora y Comercializadora Norte Sociedad Anónima operates as a subsidiary of Empresa de Energía del Cono Sur SA.