Empresa Distribuidora y Comercializadora Norte Sociedad Anónima (NYSE:EDN) Hits New 52-Week High – Here’s Why

Empresa Distribuidora y Comercializadora Norte Sociedad Anónima (NYSE:EDN) hit a new 52-week high on Thursday . The company traded as high as $25.94 and last traded at $25.94, with a volume of 221201 shares. The stock had previously closed at $24.08.

Empresa Distribuidora y Comercializadora Norte Sociedad Anónima Price Performance

The business’s 50 day moving average is $21.68 and its two-hundred day moving average is $18.62. The firm has a market cap of $1.17 billion, a P/E ratio of 4.09 and a beta of 1.39. The company has a quick ratio of 0.63, a current ratio of 0.76 and a debt-to-equity ratio of 0.09.

Empresa Distribuidora y Comercializadora Norte Sociedad Anónima (NYSE:EDN) last announced its earnings results on Wednesday, August 7th. The utilities provider reported $1.46 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.05) by $1.51. The business had revenue of $551.43 million during the quarter. Empresa Distribuidora y Comercializadora Norte Sociedad Anónima had a net margin of 17.06% and a return on equity of 31.06%. During the same period in the prior year, the business earned ($0.48) EPS. As a group, analysts anticipate that Empresa Distribuidora y Comercializadora Norte Sociedad Anónima will post 0.05 earnings per share for the current year.

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

A number of large investors have recently bought and sold shares of EDN. Helikon Investments Ltd grew its holdings in shares of Empresa Distribuidora y Comercializadora Norte Sociedad Anónima by 15.3% during the first quarter. Helikon Investments Ltd now owns 345,218 shares of the utilities provider’s stock valued at $6,107,000 after buying an additional 45,901 shares during the last quarter. BNP Paribas Financial Markets grew its holdings in shares of Empresa Distribuidora y Comercializadora Norte Sociedad Anónima by 1,488.0% during the first quarter. BNP Paribas Financial Markets now owns 3,176 shares of the utilities provider’s stock valued at $56,000 after buying an additional 2,976 shares during the last quarter. Finally, Ping Capital Management Inc. purchased a new position in Empresa Distribuidora y Comercializadora Norte Sociedad Anónima during the second quarter worth about $941,000. 1.64% of the stock is currently owned by institutional investors and hedge funds.

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.