Empresa Distribuidora y Comercializadora Norte Sociedad Anónima (NYSE:EDN) Stock Price Up 4.6% – Here’s Why

Empresa Distribuidora y Comercializadora Norte Sociedad Anónima (NYSE:EDN) shares shot up 4.6% during trading on Thursday . The company traded as high as $23.66 and last traded at $23.66. 31,608 shares traded hands during mid-day trading, a decline of 59% from the average session volume of 78,016 shares. The stock had previously closed at $22.62.

Empresa Distribuidora y Comercializadora Norte Sociedad Anónima Stock Performance

The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.63 and a current ratio of 0.76. The company has a fifty day moving average of $21.29 and a two-hundred day moving average of $18.52. The company has a market cap of $1.04 billion, a price-to-earnings ratio of 3.62 and a beta of 1.39.

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 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 company had revenue of $551.43 million during the quarter. During the same quarter last year, the company earned ($0.48) earnings per share. Equities research analysts anticipate that Empresa Distribuidora y Comercializadora Norte Sociedad Anónima will post 0.05 EPS for the current year.

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

Several institutional investors have recently modified their holdings of EDN. Ping Capital Management Inc. bought a new position in shares of Empresa Distribuidora y Comercializadora Norte Sociedad Anónima during the 2nd quarter worth $941,000. Helikon Investments Ltd boosted its position in shares of 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 valued at $6,107,000 after acquiring an additional 45,901 shares during the period. Finally, BNP Paribas Financial Markets grew its stake 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 valued at $56,000 after acquiring an additional 2,976 shares in the last quarter. 1.64% of the stock is owned by institutional investors.

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.