Empresa Distribuidora y Comercializadora Norte Sociedad Anónima (NYSE:EDN) Sees Large Volume Increase – Here’s Why

Shares of Empresa Distribuidora y Comercializadora Norte Sociedad Anónima (NYSE:EDN) saw an uptick in trading volume on Wednesday . 90,435 shares traded hands during trading, an increase of 16% from the previous session’s volume of 78,201 shares.The stock last traded at $24.04 and had previously closed at $23.55.

Empresa Distribuidora y Comercializadora Norte Sociedad Anónima Price Performance

The firm has a market capitalization of $1.10 billion, a price-to-earnings ratio of 3.95 and a beta of 1.39. The business has a fifty day moving average of $21.54 and a two-hundred day moving average of $18.58. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.63 and a current ratio of 0.76.

Empresa Distribuidora y Comercializadora Norte Sociedad Anónima (NYSE:EDN) last posted its quarterly earnings data on Wednesday, August 7th. The utilities provider reported $1.46 earnings per share (EPS) for the quarter, beating 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 period in the prior year, the firm earned ($0.48) EPS. As a group, research analysts predict that Empresa Distribuidora y Comercializadora Norte Sociedad Anónima will post 0.05 EPS for the current fiscal year.

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

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Helikon Investments Ltd boosted its holdings in Empresa Distribuidora y Comercializadora Norte Sociedad Anónima by 15.3% in the first quarter. Helikon Investments Ltd now owns 345,218 shares of the utilities provider’s stock worth $6,107,000 after acquiring an additional 45,901 shares in the last quarter. BNP Paribas Financial Markets boosted its position in Empresa Distribuidora y Comercializadora Norte Sociedad Anónima by 1,488.0% in the first 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. Finally, Ping Capital Management Inc. purchased a new position in shares of Empresa Distribuidora y Comercializadora Norte Sociedad Anónima in the 2nd quarter worth about $941,000. 1.64% of the stock is owned by institutional investors and hedge funds.

Empresa Distribuidora y Comercializadora Norte Sociedad Anónima Company Profile

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.