Central Puerto (NYSE:CEPU) Hits New 1-Year Low – Here’s Why

Central Puerto S.A. Sponsored ADR (NYSE:CEPU)’s stock price reached a new 52-week low during trading on Monday. The company traded as low as $11.09 and last traded at $11.4230, with a volume of 99,230 shares changing hands. The stock had previously closed at $12.10.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the company. Wall Street Zen downgraded Central Puerto from a “buy” rating to a “hold” rating in a research report on Saturday, September 19th. Bank of America cut their target price on Central Puerto from $29.00 to $28.00 and set a “buy” rating for the company in a research report on Thursday, September 17th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Central Puerto in a research note on Wednesday, August 26th. Two analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $22.75.

Central Puerto Stock Performance

The company’s 50 day moving average is $13.07 and its two-hundred day moving average is $14.69.

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 given a $1.0758 dividend. The ex-dividend date was Monday, September 28th.

Hedge Funds Weigh In On Central Puerto

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CEPU. Tidal Investments LLC purchased a new stake in shares of Central Puerto during the 2nd quarter worth approximately $159,000. Bank of America Corp DE boosted its position in shares of 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 acquiring an additional 98,380 shares during the last quarter. Absolute Gestao de Investimentos Ltda. purchased a new position in shares of Central Puerto in the first quarter valued at $4,814,000. Arrowstreet Capital Limited Partnership purchased a new position in shares of Central Puerto in the first quarter valued at $271,000. Finally, Walleye Capital LLC purchased a new position in shares of Central Puerto in the first quarter valued at $1,349,000. 2.97% of the stock is owned by institutional investors.

About Central Puerto

Central Puerto SA is an Argentine electricity generation company that develops, owns and operates power-generation facilities. Its portfolio includes thermal, hydroelectric and renewable energy assets, enabling the company to supply electricity from a range of generation technologies.

The company sells power primarily through Argentina’s wholesale electricity market and serves the country’s electric system. Its operations are concentrated in Argentina, where it supplies electricity to the national grid and participates in the development and expansion of domestic generation capacity.

Central Puerto was established during the restructuring and privatization of Argentina’s electricity sector and has expanded its generation portfolio through investments in conventional and renewable energy projects.