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

Shares of Empresa Distribuidora y Comercializadora Norte Sociedad Anónima (NYSE:EDN) saw an uptick in trading volume on Friday . 49,560 shares changed hands during trading, a decline of 40% from the previous session’s volume of 83,095 shares.The stock last traded at $31.46 and had previously closed at $29.10.

Empresa Distribuidora y Comercializadora Norte Sociedad Anónima Stock Performance

The stock has a fifty day moving average price of $23.04 and a two-hundred day moving average price of $19.08. The company has a market cap of $1.41 billion, a P/E ratio of 3.87 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.

Empresa Distribuidora y Comercializadora Norte Sociedad Anónima (NYSE:EDN) last released 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 company had revenue of $551.43 million for the quarter. Empresa Distribuidora y Comercializadora Norte Sociedad Anónima had a return on equity of 31.06% and a net margin of 17.06%. During the same period last year, the firm posted ($0.48) EPS. On average, equities analysts forecast that Empresa Distribuidora y Comercializadora Norte Sociedad Anónima will post 0.05 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Empresa Distribuidora y Comercializadora Norte Sociedad Anónima

Hedge funds have recently made changes to their positions in the business. Helikon Investments Ltd raised its holdings in Empresa Distribuidora y Comercializadora Norte Sociedad Anónima by 61.3% during the third quarter. Helikon Investments Ltd now owns 809,902 shares of the utilities provider’s stock worth $17,947,000 after purchasing an additional 307,642 shares in the last quarter. Ping Capital Management Inc. bought a new stake in Empresa Distribuidora y Comercializadora Norte Sociedad Anónima during the second quarter worth approximately $941,000. Finally, BNP Paribas Financial Markets raised its holdings in 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 worth $56,000 after purchasing an additional 2,976 shares in the last quarter. 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.