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

Zacks Investment Research upgraded shares of Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) (NYSE:EDN) from a sell rating to a hold rating in a research report report published on Friday.

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. “

Several other equities research analysts have also issued reports on the stock. BidaskClub upgraded shares of Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) from a hold rating to a buy rating in a research report on Saturday, August 26th. ValuEngine upgraded shares of Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) from a buy rating to a strong-buy rating in a research report on Thursday, July 13th.

Empresa Distribuidora Y Comercializadora Norte S.A. (EDN) traded down $0.11 on Friday, reaching $44.02. The company’s stock had a trading volume of 9,574 shares, compared to its average volume of 59,480. Empresa Distribuidora Y Comercializadora Norte S.A. has a 52 week low of $23.72 and a 52 week high of $45.50. The company has a debt-to-equity ratio of 11.32, a quick ratio of 0.62 and a current ratio of 0.64.

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Institutional investors and hedge funds have recently made changes to their positions in the company. Advisor Group Inc. lifted its holdings in shares of Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) by 114.6% in the 2nd quarter. Advisor Group Inc. now owns 6,725 shares of the utilities provider’s stock worth $214,000 after acquiring an additional 3,591 shares during the last quarter. Atria Investments LLC bought a new stake in shares of Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) in the 2nd quarter worth approximately $235,000. KCG Holdings Inc. bought a new stake in Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) during the 1st quarter valued at $388,000. PointState Capital LP bought a new stake in Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) during the 2nd quarter valued at $474,000. Finally, Renaissance Technologies LLC raised its holdings in Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) by 39.6% during the 1st quarter. Renaissance Technologies LLC now owns 15,000 shares of the utilities provider’s stock valued at $522,000 after buying an additional 4,255 shares during the last quarter. Hedge funds and other institutional investors own 7.56% of the company’s stock.

About Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor)

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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