Empresa Distribuidora y Comercializadora Norte Sociedad Anónima (NYSE:EDN) Reaches New 12-Month High – Time to Buy?

Shares of Empresa Distribuidora y Comercializadora Norte Sociedad Anónima (NYSE:EDN) hit a new 52-week high on Thursday . The company traded as high as $25.94 and last traded at $25.94, with a volume of 221201 shares changing hands. The stock had previously closed at $24.08.

Empresa Distribuidora y Comercializadora Norte Sociedad Anónima Trading Up 3.1 %

The stock has a market capitalization of $1.20 billion, a price-to-earnings ratio of 4.19 and a beta of 1.39. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.76 and a quick ratio of 0.63. The business’s 50-day simple moving average is $22.02 and its two-hundred day simple moving average is $18.72.

Empresa Distribuidora y Comercializadora Norte Sociedad Anónima (NYSE:EDN) last announced its quarterly earnings results on Wednesday, August 7th. The utilities provider reported $1.46 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.05) by $1.51. The firm had revenue of $551.43 million for the quarter. Empresa Distribuidora y Comercializadora Norte Sociedad Anónima had a net margin of 17.06% and a return on equity of 31.06%. During the same period last year, the firm earned ($0.48) earnings per share. On average, research analysts anticipate that Empresa Distribuidora y Comercializadora Norte Sociedad Anónima will post 0.05 earnings per share for the current fiscal year.

Institutional Trading of Empresa Distribuidora y Comercializadora Norte Sociedad Anónima

Hedge funds have recently made changes to their positions in the company. Ping Capital Management Inc. purchased a new stake in shares of Empresa Distribuidora y Comercializadora Norte Sociedad Anónima during the second quarter valued at approximately $941,000. Helikon Investments Ltd raised its stake in shares of Empresa Distribuidora y Comercializadora Norte Sociedad Anónima by 15.3% during the first quarter. Helikon Investments Ltd now owns 345,218 shares of the utilities provider’s stock valued at $6,107,000 after purchasing an additional 45,901 shares during the period. Finally, BNP Paribas Financial Markets raised its stake in shares of 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 valued at $56,000 after purchasing an additional 2,976 shares during the period. Hedge funds and other institutional investors own 1.64% of the company’s stock.

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.