Empresa Distribuidora y Comercializadora Norte Sociedad Anónima (NYSE:EDN) Trading 4.6% Higher – What’s Next?

Empresa Distribuidora y Comercializadora Norte Sociedad Anónima (NYSE:EDN)’s share price traded up 4.6% during mid-day trading on Thursday . The stock traded as high as $23.66 and last traded at $23.66. 31,608 shares traded hands during mid-day trading, a decline of 59% from the average session volume of 78,016 shares. The stock had previously closed at $22.62.

Empresa Distribuidora y Comercializadora Norte Sociedad Anónima Price Performance

The business has a 50-day simple moving average of $21.02 and a two-hundred day simple moving average of $18.45. The company has a quick ratio of 0.63, a current ratio of 0.76 and a debt-to-equity ratio of 0.09. The stock has a market capitalization of $1.05 billion, a price-to-earnings ratio of 3.71 and a beta of 1.39.

Empresa Distribuidora y Comercializadora Norte Sociedad Anónima (NYSE:EDN) last issued its earnings results on Wednesday, August 7th. The utilities provider reported $1.46 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.05) by $1.51. Empresa Distribuidora y Comercializadora Norte Sociedad Anónima had a net margin of 17.06% and a return on equity of 31.06%. The firm had revenue of $551.43 million during the quarter. During the same quarter in the previous year, the business posted ($0.48) earnings per share. As a group, research analysts predict that Empresa Distribuidora y Comercializadora Norte Sociedad Anónima will post 0.05 earnings per share for the current fiscal year.

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

Several institutional investors and hedge funds have recently added to or reduced their stakes in EDN. BNP Paribas Financial Markets increased its position in Empresa Distribuidora y Comercializadora Norte Sociedad Anónima by 1,488.0% in the 1st quarter. BNP Paribas Financial Markets now owns 3,176 shares of the utilities provider’s stock worth $56,000 after purchasing an additional 2,976 shares during the last quarter. Ping Capital Management Inc. acquired a new position in Empresa Distribuidora y Comercializadora Norte Sociedad Anónima during the second quarter worth $941,000. Finally, Helikon Investments Ltd raised its stake in shares of Empresa Distribuidora y Comercializadora Norte Sociedad Anónima by 15.3% in the 1st quarter. Helikon Investments Ltd now owns 345,218 shares of the utilities provider’s stock valued at $6,107,000 after acquiring an additional 45,901 shares in the last quarter. 1.64% of the stock is currently owned by hedge funds and other institutional investors.

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.