Today, Empresa Distribuidora y Comercializadora Norte S.A. (EDN) Given $22.00 Consensus Price Target by Brokerages

Today, Empresa Distribuidora y Comercializadora Norte S.A. (EDN) Given $22.00 Consensus Price Target by Brokerages

Empresa Distribuidora y Comercializadora Norte S.A. (NYSE:EDN) has received a consensus broker rating score of 1.00 (Strong Buy) from the three brokers that cover the stock, Zacks Investment Research reports. Three investment analysts have rated the stock with a strong buy rating.

Analysts have set a 1-year consensus price target of $22.00 for the company, according to Zacks. Zacks has also given Empresa Distribuidora y Comercializadora Norte an industry rank of 175 out of 265 based on the ratings given to related companies.

Several research analysts recently weighed in on the company. Zacks Investment Research cut Empresa Distribuidora y Comercializadora Norte from a “hold” rating to a “strong sell” rating in a research report on Wednesday, August 24th. Morgan Stanley assumed coverage on Empresa Distribuidora y Comercializadora Norte in a research report on Wednesday, October 5th. They set an “overweight” rating and a $26.50 price target for the company.

Empresa Distribuidora y Comercializadora Norte (NYSE:EDN) opened at 21.70 on Wednesday. The stock’s 50 day moving average price is $19.22 and its 200-day moving average price is $16.71. The company’s market capitalization is $973.29 million. Empresa Distribuidora y Comercializadora Norte has a 52-week low of $11.97 and a 52-week high of $22.00.

A hedge fund recently raised its stake in Empresa Distribuidora y Comercializadora Norte stock. Dorsey Wright & Associates raised its position in shares of Empresa Distribuidora y Comercializadora Norte S.A. (NYSE:EDN) by 39.4% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 62,853 shares of the company’s stock after buying an additional 17,756 shares during the period. Dorsey Wright & Associates owned about 0.14% of Empresa Distribuidora y Comercializadora Norte worth $1,244,000 as of its most recent SEC filing. Institutional investors and hedge funds own 4.16% 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.

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