Central Puerto (NYSE:CEPU) Stock Price Up 7.4% After Better-Than-Expected Earnings

Central Puerto S.A. (NYSE:CEPU)’s stock price rose 7.4% during mid-day trading on Wednesday following a better than expected earnings announcement. The company traded as high as $12.33 and last traded at $12.57. Approximately 103,883 shares traded hands during mid-day trading, a decline of 70% from the average daily volume of 341,707 shares. The stock had previously closed at $11.71.

The company reported $0.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.03 by $0.26. The business had revenue of $168.00 million during the quarter, compared to analysts’ expectations of $187.32 billion. Central Puerto had a net margin of 56.44% and a return on equity of 22.76%.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Central Puerto by 84.8% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,283,463 shares of the company’s stock worth $33,087,000 after acquiring an additional 1,047,490 shares during the period. Pictet Asset Management Holding SA lifted its holdings in Central Puerto by 1,204.3% during the fourth quarter. Pictet Asset Management Holding SA now owns 435,276 shares of the company’s stock valued at $6,307,000 after purchasing an additional 401,903 shares in the last quarter. William Blair Investment Management LLC purchased a new position in shares of Central Puerto in the fourth quarter worth $1,319,000. Mirabella Financial Services LLP lifted its holdings in shares of Central Puerto by 259.1% in the fourth quarter. Mirabella Financial Services LLP now owns 90,088 shares of the company’s stock worth $1,305,000 after buying an additional 65,000 shares in the last quarter. Finally, Ping Capital Management Inc. lifted its holdings in shares of Central Puerto by 4.9% in the fourth quarter. Ping Capital Management Inc. now owns 86,000 shares of the company’s stock worth $1,246,000 after buying an additional 4,000 shares in the last quarter. 2.97% of the stock is owned by hedge funds and other institutional investors.

Central Puerto Price Performance

The firm’s fifty day moving average price is $13.50 and its 200 day moving average price is $12.38. The company has a quick ratio of 1.97, a current ratio of 2.13 and a debt-to-equity ratio of 0.18. The stock has a market cap of $1.87 billion, a PE ratio of 4.85 and a beta of 1.18.

About Central Puerto

Central Puerto SA engages in the electric power generation in Argentina. It operates through three segments: Electric Power Generation from Conventional Sources, Electric Power Generation from Renewable Sources, and Natural Gas Transport and Distribution. The company generates energy through thermal, hydroelectric, and wind farms.