Today, The Zacks Investment Research Upgraded Empresa Distribuidora y Comercializadora Norte S.A. (EDN) to Hold

Today, The Zacks Investment Research Upgraded Empresa Distribuidora y Comercializadora Norte S.A. (EDN) to Hold
Empresa Distribuidora y Comercializadora Norte S.A. (NYSE:EDN) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a note issued to investors 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. “

Separately, Morgan Stanley started coverage on Empresa Distribuidora y Comercializadora Norte in a research report on Wednesday, October 5th. They set an “overweight” rating and a $26.50 target price for the company.

Shares of Empresa Distribuidora y Comercializadora Norte (NYSE:EDN) traded up 0.47% during midday trading on Friday, reaching $27.63. The company had a trading volume of 48,234 shares. Empresa Distribuidora y Comercializadora Norte has a 52-week low of $13.25 and a 52-week high of $28.39. The firm’s market cap is $1.24 billion. The company’s 50-day moving average is $24.31 and its 200-day moving average is $18.64.

Several large investors have recently added to or reduced their stakes in EDN. Dorsey Wright & Associates increased its stake in Empresa Distribuidora y Comercializadora Norte by 39.4% in the third quarter. Dorsey Wright & Associates now owns 62,853 shares of the company’s stock worth $1,244,000 after buying an additional 17,756 shares during the last quarter. Itau Unibanco Holding S.A. purchased a new stake in Empresa Distribuidora y Comercializadora Norte during the third quarter worth $153,000. Prince Street Capital Management LLC increased its stake in Empresa Distribuidora y Comercializadora Norte by 9.3% in the third quarter. Prince Street Capital Management LLC now owns 164,300 shares of the company’s stock worth $3,253,000 after buying an additional 14,000 shares during the last quarter. Morgan Stanley increased its stake in Empresa Distribuidora y Comercializadora Norte by 6.3% in the third quarter. Morgan Stanley now owns 13,399 shares of the company’s stock worth $265,000 after buying an additional 796 shares during the last quarter. Finally, Northern Trust Corp increased its stake in Empresa Distribuidora y Comercializadora Norte by 1.9% in the third quarter. Northern Trust Corp now owns 15,926 shares of the company’s stock worth $316,000 after buying an additional 300 shares during the last quarter. Institutional investors own 4.57% of the company’s stock.

About Empresa Distribuidora y Comercializadora Norte

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.

Related posts

Leave a Comment