Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) (EDN) Receives Consensus Rating of “Buy” from Brokerages

Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) (NYSE:EDN) has earned an average broker rating score of 2.00 (Buy) from the two brokers that provide coverage for the company, Zacks Investment Research reports. One investment analyst has rated the stock with a hold rating and one has assigned a strong buy rating to the company.

Brokerages have set a 1-year consensus price target of $44.00 for the company, according to Zacks. Zacks has also given Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) an industry rank of 194 out of 265 based on the ratings given to its competitors.

EDN has been the topic of several analyst reports. BidaskClub raised shares of Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) from a “hold” rating to a “buy” rating in a report on Saturday, August 26th. Zacks Investment Research lowered shares of Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) from a “buy” rating to a “hold” rating in a report on Wednesday, August 9th.

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A number of institutional investors have recently made changes to their positions in EDN. Newfoundland Capital Management boosted its stake in shares of Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) by 11.0% in the 2nd quarter. Newfoundland Capital Management now owns 1,034,750 shares of the utilities provider’s stock valued at $33,008,000 after purchasing an additional 102,309 shares in the last quarter. Wells Fargo & Company MN lifted its position in Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) by 7.9% during the 3rd quarter. Wells Fargo & Company MN now owns 314,626 shares of the utilities provider’s stock worth $12,506,000 after buying an additional 22,973 shares in the last quarter. Fiera Capital Corp acquired a new position in Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) during the 2nd quarter worth about $8,737,000. Dorsey Wright & Associates lifted its position in Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) by 43.6% during the 3rd quarter. Dorsey Wright & Associates now owns 219,546 shares of the utilities provider’s stock worth $8,966,000 after buying an additional 66,699 shares in the last quarter. Finally, Goldman Sachs Group Inc. lifted its position in Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) by 0.8% during the 1st quarter. Goldman Sachs Group Inc. now owns 104,819 shares of the utilities provider’s stock worth $3,648,000 after buying an additional 803 shares in the last quarter. 7.68% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Empresa Distribuidora Y Comercializadora Norte S.A. (NYSE EDN) traded down $0.78 during trading on Tuesday, reaching $41.93. 22,100 shares of the company’s stock traded hands, compared to its average volume of 58,558. The company has a debt-to-equity ratio of 11.32, a quick ratio of 0.62 and a current ratio of 0.64. Empresa Distribuidora Y Comercializadora Norte S.A. has a 12-month low of $24.72 and a 12-month high of $45.50.

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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