Ping Capital Management Inc. Boosts Stock Position in Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) $EDN

Ping Capital Management Inc. raised its stake in shares of Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) (NYSE:EDN) by 7.9% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 27,400 shares of the utilities provider’s stock after acquiring an additional 2,000 shares during the period. Ping Capital Management Inc. owned approximately 0.06% of Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) worth $726,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) by 9.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 596,866 shares of the utilities provider’s stock valued at $18,228,000 after acquiring an additional 52,478 shares during the last quarter. BW Gestao de Investimentos Ltda. purchased a new stake in Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) during the 1st quarter valued at approximately $562,000. Cubist Systematic Strategies LLC raised its stake in Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) by 141.2% during the 1st quarter. Cubist Systematic Strategies LLC now owns 39,031 shares of the utilities provider’s stock valued at $1,192,000 after acquiring an additional 22,848 shares during the last quarter. Walleye Capital LLC purchased a new stake in Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) during the 1st quarter valued at approximately $373,000. Finally, Helikon Investments Ltd raised its stake in Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) by 259.8% during the 1st quarter. Helikon Investments Ltd now owns 2,031,036 shares of the utilities provider’s stock valued at $62,028,000 after acquiring an additional 1,466,500 shares during the last quarter. 1.64% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. Wall Street Zen downgraded Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) from a “buy” rating to a “hold” rating in a research note on Saturday, August 16th. Morgan Stanley reissued an “equal weight” rating and set a $36.00 target price on shares of Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) in a research note on Wednesday, August 20th. One research analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $36.00.

Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) Stock Performance

Shares of EDN stock opened at $15.58 on Friday. The company has a market cap of $706.00 million, a price-to-earnings ratio of 2.49 and a beta of 1.54. The stock has a 50 day simple moving average of $22.47 and a 200-day simple moving average of $27.47. Empresa Distribuidora Y Comercializadora Norte S.A. has a 12-month low of $14.38 and a 12-month high of $51.69. The company has a current ratio of 0.99, a quick ratio of 0.82 and a debt-to-equity ratio of 0.22.

Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) (NYSE:EDN) last released its quarterly earnings results on Monday, August 11th. The utilities provider reported $1.85 earnings per share for the quarter. The business had revenue of $543.69 million for the quarter. Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) had a return on equity of 18.04% and a net margin of 11.55%. On average, equities analysts forecast that Empresa Distribuidora Y Comercializadora Norte S.A. will post 1.38 EPS for the current year.

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

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.