Brokerages Set $39.00 Target Price for Empresa Distribuidora y Cmrz Nrt SA (EDN)

Shares of Empresa Distribuidora y Cmrz Nrt SA (NYSE:EDN) have earned an average broker rating score of 1.67 (Buy) from the three brokers that provide coverage for the stock, Zacks Investment Research reports. One equities research analyst has rated the stock with a hold recommendation and two have assigned a strong buy recommendation to the company. Empresa Distribuidora y Cmrz Nrt SA’s rating score has declined by 67% in the last 90 days as a result of various analysts’ ratings changes.

Analysts have set a one year consensus price target of $39.00 for the company, according to Zacks. Zacks has also assigned Empresa Distribuidora y Cmrz Nrt SA an industry rank of 156 out of 265 based on the ratings given to its competitors.

Several brokerages have recently commented on EDN. Zacks Investment Research upgraded Empresa Distribuidora y Cmrz Nrt SA from a “strong sell” rating to a “hold” rating in a research report on Tuesday, April 11th. Bank of America Corp lowered Empresa Distribuidora y Cmrz Nrt SA from a “buy” rating to a “neutral” rating in a research report on Wednesday, February 8th.

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Several hedge funds and other institutional investors have recently modified their holdings of EDN. UBS Asset Management Americas Inc. raised its position in shares of Empresa Distribuidora y Cmrz Nrt SA by 77.9% in the fourth quarter. UBS Asset Management Americas Inc. now owns 37,361 shares of the utilities provider’s stock valued at $1,041,000 after buying an additional 16,362 shares during the last quarter. Charlemagne Capital Ltd. raised its position in shares of Empresa Distribuidora y Cmrz Nrt SA by 73.0% in the fourth quarter. Charlemagne Capital Ltd. now owns 280,229 shares of the utilities provider’s stock valued at $7,604,000 after buying an additional 118,293 shares during the last quarter. Newfoundland Capital Management purchased a new position in shares of Empresa Distribuidora y Cmrz Nrt SA during the fourth quarter valued at approximately $8,522,000. Itau Unibanco Holding S.A. purchased a new position in shares of Empresa Distribuidora y Cmrz Nrt SA during the third quarter valued at approximately $153,000. Finally, Prince Street Capital Management LLC raised its position in shares of Empresa Distribuidora y Cmrz Nrt SA by 9.3% in the third quarter. Prince Street Capital Management LLC now owns 164,300 shares of the utilities provider’s stock valued at $3,253,000 after buying an additional 14,000 shares during the last quarter. Institutional investors own 4.98% of the company’s stock.

Empresa Distribuidora y Cmrz Nrt SA (NYSE:EDN) traded down 0.14% during mid-day trading on Tuesday, hitting $36.31. 12,430 shares of the company were exchanged. Empresa Distribuidora y Cmrz Nrt SA has a 12 month low of $13.24 and a 12 month high of $37.12. The stock’s market cap is $1.63 billion. The firm has a 50 day moving average price of $33.84 and a 200 day moving average price of $29.54.

Empresa Distribuidora y Cmrz Nrt SA 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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