Bank of America Cuts Central Puerto (NYSE:CEPU) Price Target to $28.00

Central Puerto (NYSE:CEPU) had its price target trimmed by Bank of America from $29.00 to $28.00 in a report issued on Thursday,Benzinga reports. The firm currently has a buy rating on the stock.

Several other brokerages also recently weighed in on CEPU. Weiss Ratings reiterated a “hold (c)” rating on shares of Central Puerto in a report on Wednesday, August 26th. Wall Street Zen cut Central Puerto from a “strong-buy” rating to a “buy” rating in a report on Saturday, August 22nd. Two equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $22.75.

Central Puerto Stock Performance

Central Puerto stock opened at $13.50 on Thursday. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.28 and a quick ratio of 1.19. The firm has a market capitalization of $2.04 billion, a P/E ratio of 4.50 and a beta of 0.81. Central Puerto has a 1-year low of $7.43 and a 1-year high of $18.50. The company’s 50-day moving average is $14.07 and its 200 day moving average is $14.77.

Hedge Funds Weigh In On Central Puerto

A number of hedge funds have recently added to or reduced their stakes in CEPU. SPX Gestao de Recursos Ltda purchased a new position in shares of Central Puerto during the first quarter worth approximately $6,084,000. Absolute Gestao de Investimentos Ltda. purchased a new position in Central Puerto during the 1st quarter worth $4,814,000. UBS Group AG increased its holdings in Central Puerto by 462.8% during the 4th quarter. UBS Group AG now owns 140,597 shares of the company’s stock worth $2,460,000 after purchasing an additional 115,617 shares during the period. Bank of America Corp DE raised its position in Central Puerto by 285.7% during the 1st quarter. Bank of America Corp DE now owns 132,818 shares of the company’s stock valued at $2,235,000 after purchasing an additional 98,380 shares in the last quarter. Finally, Walleye Capital LLC bought a new position in shares of Central Puerto during the 1st quarter worth $1,349,000. 2.97% of the stock is currently owned by institutional investors.

Central Puerto Company Profile

Central Puerto SA is an Argentina-based electric power generation company whose American depositary shares trade on the New York Stock Exchange under the symbol CEPU. The company develops, owns, and operates power-generation facilities that supply electricity to Argentina’s interconnected power system.

Its generation portfolio includes thermal power plants, which primarily use natural gas and other fuels, as well as hydroelectric and renewable-energy assets. Central Puerto also develops and invests in new generation projects, including wind and solar facilities, to support the diversification of Argentina’s electricity supply.

Central Puerto was established in 1989 during the privatization and restructuring of Argentina’s electricity sector.