Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) (EDN) Upgraded to Buy at Zacks Investment Research

Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) (NYSE:EDN) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Wednesday, July 12th. The firm currently has a $35.00 price target on the utilities provider’s stock. Zacks Investment Research‘s target price suggests a potential upside of 15.13% from the company’s previous close.

According to Zacks, “EMPRESA DISTRIBUIDORA Y COMERCIALIZADORA NORTE S.A. (Edenor) is the largest electricity distribution company in Argentina in terms of number of customers and electricity sold (both in GWh and Pesos). Through a concession, Edenor distributes electricity exclusively to the northwestern zone of the greater Buenos Aires metropolitan area and the northern part of the city of Buenos Aires, which has a population of approximately 7 million people and an area of 4,637 sq. km. “

Separately, BidaskClub raised shares of Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) from a “sell” rating to a “hold” rating in a report on Wednesday, June 21st. Three research analysts have rated the stock with a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $30.75.

Empresa Distribuidora Y Comercializadora Norte S.A. (EDN) opened at 30.40 on Wednesday. The company’s market capitalization is $1.37 billion. Empresa Distribuidora Y Comercializadora Norte S.A. has a 52 week low of $15.03 and a 52 week high of $37.12. The firm’s 50-day moving average price is $30.78 and its 200-day moving average price is $32.57.

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A number of large investors have recently bought and sold shares of EDN. Advisor Group Inc. boosted its stake in Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) by 114.6% in the second quarter. Advisor Group Inc. now owns 6,725 shares of the utilities provider’s stock valued at $214,000 after buying an additional 3,591 shares in the last quarter. Dorsey Wright & Associates boosted its stake in Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) by 53.8% in the second quarter. Dorsey Wright & Associates now owns 152,847 shares of the utilities provider’s stock valued at $2,075,000 after buying an additional 53,479 shares in the last quarter. Fiera Capital Corp bought a new stake in Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) during the second quarter valued at approximately $8,737,000. Wells Fargo & Company MN boosted its stake in Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) by 31.9% in the second quarter. Wells Fargo & Company MN now owns 291,653 shares of the utilities provider’s stock valued at $9,304,000 after buying an additional 70,531 shares in the last quarter. Finally, Newfoundland Capital Management boosted its stake in Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) by 11.0% in the second quarter. Newfoundland Capital Management now owns 1,034,750 shares of the utilities provider’s stock valued at $33,008,000 after buying an additional 102,309 shares in the last quarter. 7.30% of the stock is currently owned by institutional investors and hedge funds.

Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) Company Profile

Empresa Distribuidora y Comercializadora Norte SA is a public service company. The Company is engaged in electricity distribution in Argentina. It holds a concession to distribute electricity to the northwestern part of the greater Buenos Aires metropolitan area and in the northern part of the City of Buenos Aires.

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