Empresa Distribuidora y Comercializadora Norte Sociedad Anónima (NYSE:EDN) Shares Down 3.3%

Empresa Distribuidora y Comercializadora Norte Sociedad Anónima (NYSE:EDN)’s share price fell 3.3% on Tuesday . The company traded as low as $23.37 and last traded at $23.70. 48,279 shares changed hands during mid-day trading, a decline of 36% from the average session volume of 75,409 shares. The stock had previously closed at $24.52.

Analyst Upgrades and Downgrades

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

Empresa Distribuidora y Comercializadora Norte Sociedad Anónima Price Performance

The company has a market capitalization of $1.14 billion, a PE ratio of 3.89 and a beta of 1.40. 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 company’s 50 day simple moving average is $18.27 and its 200 day simple moving average is $17.59.

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 EPS for the quarter, topping the consensus estimate 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 for the quarter. During the same quarter in the prior year, the business earned ($0.48) earnings per share. As a group, sell-side analysts predict that Empresa Distribuidora y Comercializadora Norte Sociedad Anónima will post -2.33 earnings per share for the current year.

Institutional Trading of Empresa Distribuidora y Comercializadora Norte Sociedad Anónima

Hedge funds have recently made changes to their positions in the company. Helikon Investments Ltd increased its stake in shares of Empresa Distribuidora y Comercializadora Norte Sociedad Anónima by 10.1% during the fourth quarter. Helikon Investments Ltd now owns 299,317 shares of the utilities provider’s stock worth $5,798,000 after acquiring an additional 27,578 shares during the period. BNP Paribas Financial Markets boosted its holdings 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 valued at $56,000 after purchasing an additional 2,976 shares in the last quarter. Finally, Ping Capital Management Inc. acquired a new position in Empresa Distribuidora y Comercializadora Norte Sociedad Anónima during the 2nd quarter worth approximately $941,000. Institutional investors and hedge funds 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.