Empresa Distribuidora y Comercializadora Norte Sociedad Anónima (NYSE:EDN) Reaches New 52-Week High - Time to Buy?

Empresa Distribuidora y Comercializadora Norte Sociedad Anónima (NYSE:EDN - Get Free Report) shares reached a new 52-week high during trading on Tuesday . The stock traded as high as $32.32 and last traded at $32.26, with a volume of 236092 shares changing hands. The stock had previously closed at $31.50.

Empresa Distribuidora y Comercializadora Norte Sociedad Anónima Stock Up 2.4 %

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 firm has a 50 day simple moving average of $23.32 and a two-hundred day simple moving average of $19.23. The stock has a market cap of $1.46 billion, a P/E ratio of 3.92 and a beta of 1.36.

Empresa Distribuidora y Comercializadora Norte Sociedad Anónima (NYSE:EDN - Get Free Report) 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 business had revenue of $551.43 million during the quarter. During the same period in the previous year, the company earned ($0.48) EPS. Equities research analysts predict that Empresa Distribuidora y Comercializadora Norte Sociedad Anónima will post 0.25 earnings per share for the current year.

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

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. BNP Paribas Financial Markets boosted its stake in shares of Empresa Distribuidora y Comercializadora Norte Sociedad Anónima by 1,488.0% during the 1st quarter. BNP Paribas Financial Markets now owns 3,176 shares of the utilities provider's stock worth $56,000 after acquiring an additional 2,976 shares in the last quarter. Ping Capital Management Inc. acquired a new stake in shares of Empresa Distribuidora y Comercializadora Norte Sociedad Anónima during the 2nd quarter valued at about $941,000. Finally, Helikon Investments Ltd lifted its stake in Empresa Distribuidora y Comercializadora Norte Sociedad Anónima by 45.5% in the second quarter. Helikon Investments Ltd now owns 502,260 shares of the utilities provider's stock valued at $8,232,000 after acquiring an additional 157,042 shares during 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.

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