Trade Report: 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 research note issued 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 shares of Empresa Distribuidora y Comercializadora Norte in a research note on Wednesday, October 5th. They issued an “overweight” rating and a $26.50 price target for the company.

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

Several hedge funds have recently bought and sold shares of the stock. Dorsey Wright & Associates raised its position in shares of 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 valued at $1,244,000 after buying an additional 17,756 shares in the last quarter. Itau Unibanco Holding S.A. bought a new position in shares of Empresa Distribuidora y Comercializadora Norte during the third quarter valued at approximately $153,000. Prince Street Capital Management LLC raised its position in shares of 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 valued at $3,253,000 after buying an additional 14,000 shares in the last quarter. Morgan Stanley raised its position in shares of Empresa Distribuidora y Comercializadora Norte by 6.3% in the third quarter. Morgan Stanley now owns 13,399 shares of the company’s stock valued at $265,000 after buying an additional 796 shares in the last quarter. Finally, Northern Trust Corp raised its position in shares of 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 valued at $316,000 after buying an additional 300 shares in the last quarter. 4.57% of the stock is owned by institutional investors and hedge funds.

Empresa Distribuidora y Comercializadora Norte Company Profile

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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