Central Puerto (NYSE:CEPU) Stock Jumps 4.1% – Still a Buy?

Central Puerto S.A. Sponsored ADR (NYSE:CEPU) shot up 4.1% on Monday. The company traded as high as $13.14 and last traded at $13.16. Approximately 89,711 shares were traded during trading, a decline of 71% from the average session volume of 305,870 shares. The stock had previously closed at $12.64.

Analyst Upgrades and Downgrades

CEPU has been the subject of several recent research reports. Bank of America decreased their price target on shares of Central Puerto from $29.00 to $28.00 and set a “buy” rating for the company in a research report on Thursday, September 17th. Wall Street Zen lowered Central Puerto from a “buy” rating to a “hold” rating in a research note on Saturday, September 19th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Central Puerto in a report on Wednesday, August 26th. Two investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, Central Puerto presently has a consensus rating of “Moderate Buy” and a consensus price target of $22.75.

Central Puerto Stock Performance

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 company’s 50-day moving average price is $13.41 and its two-hundred day moving average price is $14.50. The company has a market capitalization of $1.98 billion, a price-to-earnings ratio of 4.37 and a beta of 0.85.

Central Puerto Dividend Announcement

The company also recently announced a special dividend, which was paid on Wednesday, October 7th. Investors of record on Monday, September 28th were issued a $1.0758 dividend. The ex-dividend date was Monday, September 28th. Central Puerto’s payout ratio is presently 29.67%.

Institutional Trading of Central Puerto

A number of institutional investors have recently bought and sold shares of CEPU. SPX Gestao de Recursos Ltda acquired a new stake in Central Puerto during the 1st quarter worth about $6,084,000. Absolute Gestao de Investimentos Ltda. bought a new position in shares of Central Puerto in the 1st quarter worth about $4,814,000. Bank of America Corp DE raised its position in shares of Central Puerto by 285.7% in the 1st quarter. Bank of America Corp DE now owns 132,818 shares of the company’s stock worth $2,235,000 after acquiring an additional 98,380 shares in the last quarter. Walleye Capital LLC bought a new position in shares of Central Puerto in the 1st quarter worth about $1,349,000. Finally, Arrowstreet Capital Limited Partnership acquired a new position in shares of Central Puerto in the 1st quarter valued at about $271,000. Institutional investors own 2.97% of the company’s stock.

Central Puerto Company Profile

Central Puerto SA (NYSE: CEPU) is an Argentine electric power generation company. Its principal business is the development, ownership, operation and maintenance of power generation facilities that supply electricity to Argentina’s wholesale electricity market and other customers under applicable market and contractual arrangements.

The company’s generation portfolio includes conventional thermal power plants, hydroelectric facilities and renewable energy projects. Its operations use technologies such as natural-gas-fired and other thermal generation, hydroelectric power, and wind energy, giving Central Puerto exposure to multiple segments of Argentina’s electricity industry.

Central Puerto was formed during the restructuring and privatization of Argentina’s electricity sector and has expanded its portfolio through acquisitions, new construction and investments in generation capacity.