Central Puerto (NYSE:CEPU) Shares Up 7.4% Following Better-Than-Expected Earnings

Central Puerto S.A. (NYSE:CEPU)’s stock price was up 7.4% during trading on Wednesday following a stronger than expected earnings report. The stock traded as high as $12.33 and last traded at $12.57. Approximately 103,883 shares changed hands during 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 for the quarter, beating analysts’ consensus estimates of $0.03 by $0.26. Central Puerto had a return on equity of 22.76% and a net margin of 56.44%. The firm had revenue of $168.00 million for the quarter, compared to analysts’ expectations of $187.32 billion.

Hedge Funds Weigh In On Central Puerto

A number of institutional investors and hedge funds have recently bought and sold shares of CEPU. Verition Fund Management LLC bought a new position in shares of Central Puerto in the third quarter valued at about $121,000. Quadrature Capital Ltd acquired a new stake in Central Puerto in the 3rd quarter valued at about $122,000. GAMMA Investing LLC raised its stake in shares of Central Puerto by 169.1% in the fourth quarter. GAMMA Investing LLC now owns 9,942 shares of the company’s stock worth $144,000 after acquiring an additional 6,248 shares during the last quarter. Virtu Financial LLC bought a new position in shares of Central Puerto in the third quarter worth about $157,000. Finally, Tidal Investments LLC acquired a new position in shares of Central Puerto during the fourth quarter worth approximately $176,000. Institutional investors and hedge funds own 2.97% of the company’s stock.

Central Puerto Price Performance

The company has a debt-to-equity ratio of 0.18, a current ratio of 2.13 and a quick ratio of 1.97. The company’s 50 day moving average price is $13.50 and its 200 day moving average price is $12.38. The firm has a market capitalization of $1.87 billion, a P/E 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.