Empresa Distribuidora y Comercializadora Norte Sociedad Anónima (NYSE:EDN) Sets New 1-Year High – What’s Next?

Empresa Distribuidora y Comercializadora Norte Sociedad Anónima (NYSE:EDN) shares hit a new 52-week high on Tuesday . The company traded as high as $32.32 and last traded at $32.26, with a volume of 236092 shares. The stock had previously closed at $31.50.

Empresa Distribuidora y Comercializadora Norte Sociedad Anónima Trading Down 2.0 %

The firm has a market cap of $1.45 billion, a PE ratio of 4.06 and a beta of 1.36. 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’s fifty day simple moving average is $23.90 and its two-hundred day simple moving average is $19.44.

Empresa Distribuidora y Comercializadora Norte Sociedad Anónima (NYSE:EDN) last announced its quarterly earnings data 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. The business 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 quarter last year, the company posted ($0.48) EPS. On average, sell-side analysts forecast that Empresa Distribuidora y Comercializadora Norte Sociedad Anónima will post 0.25 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in EDN. BNP Paribas Financial Markets lifted its stake in shares of 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 buying an additional 2,976 shares in the last quarter. Ping Capital Management Inc. bought a new position in shares of Empresa Distribuidora y Comercializadora Norte Sociedad Anónima in the second quarter worth approximately $941,000. Finally, Helikon Investments Ltd lifted its stake in shares of Empresa Distribuidora y Comercializadora Norte Sociedad Anónima by 45.5% in the second quarter. Helikon Investments Ltd now owns 502,260 shares of the utilities provider’s stock worth $8,232,000 after buying an additional 157,042 shares in the last quarter. Institutional investors own 1.64% of the company’s stock.

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.