SPX Gestao de Recursos Ltda Sells 181,667 Shares of Transportadora De Gas Sa Ord B $TGS

Key Points

• SPX Gestao de Recursos Ltda reduced its stake in Transportadora De Gas Sa Ord B by 15.1% in the first quarter, selling 181,667 shares. It still held 1,025,136 shares valued at about $35.48 million, making TGS its 12th largest holding.
• Several other hedge funds increased their positions, including Millennium Management, JPMorgan Chase, Arrowstreet Capital, and Marshall Wace. Overall, institutional investors own about 3.29% of the company.
• Analyst sentiment is mixed but cautious, with the stock carrying a “Hold” consensus and a target price of $39.00. TGS last traded at $29.84, below that target, while analysts have recently issued both downgrades and reiterated buy/hold ratings.

SPX Gestao de Recursos Ltda lessened its holdings in Transportadora De Gas Sa Ord B (NYSE:TGS - Free Report) by 15.1% during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,025,136 shares of the energy company's stock after selling 181,667 shares during the period. Transportadora De Gas Sa Ord B accounts for approximately 2.9% of SPX Gestao de Recursos Ltda's portfolio, making the stock its 12th largest holding. SPX Gestao de Recursos Ltda owned approximately 0.68% of Transportadora De Gas Sa Ord B worth $35,480,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of TGS. Millennium Management LLC raised its stake in shares of Transportadora De Gas Sa Ord B by 787.5% during the first quarter. Millennium Management LLC now owns 143,919 shares of the energy company's stock worth $3,808,000 after acquiring an additional 127,702 shares in the last quarter. NewEdge Advisors LLC grew its stake in shares of Transportadora De Gas Sa Ord B by 28.8% during the first quarter. NewEdge Advisors LLC now owns 12,176 shares of the energy company's stock valued at $322,000 after buying an additional 2,725 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in shares of Transportadora De Gas Sa Ord B by 4.0% in the 2nd quarter. JPMorgan Chase & Co. now owns 114,073 shares of the energy company's stock valued at $2,954,000 after acquiring an additional 4,347 shares during the last quarter. Arrowstreet Capital Limited Partnership lifted its stake in shares of Transportadora De Gas Sa Ord B by 11.0% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 182,354 shares of the energy company's stock valued at $4,723,000 after acquiring an additional 18,009 shares during the last quarter. Finally, Marshall Wace LLP boosted its holdings in Transportadora De Gas Sa Ord B by 22.4% during the 2nd quarter. Marshall Wace LLP now owns 117,680 shares of the energy company's stock valued at $3,048,000 after acquiring an additional 21,520 shares during the period. Hedge funds and other institutional investors own 3.29% of the company's stock.

Transportadora De Gas Sa Ord B Stock Performance

Transportadora De Gas Sa Ord B stock opened at $29.84 on Friday. The company has a current ratio of 5.11, a quick ratio of 5.08 and a debt-to-equity ratio of 0.39. The firm has a market cap of $4.49 billion, a P/E ratio of 13.50, a P/E/G ratio of 1.06 and a beta of 0.63. Transportadora De Gas Sa Ord B has a 1-year low of $19.74 and a 1-year high of $36.35. The firm has a 50-day moving average of $30.27 and a 200-day moving average of $30.77.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. Wall Street Zen lowered Transportadora De Gas Sa Ord B from a "buy" rating to a "hold" rating in a research report on Sunday, July 12th. Bank of America reiterated a "buy" rating on shares of Transportadora De Gas Sa Ord B in a research report on Thursday, June 11th. Zacks Research lowered Transportadora De Gas Sa Ord B from a "strong-buy" rating to a "hold" rating in a research note on Monday, June 29th. Finally, Weiss Ratings reaffirmed a "hold (c-)" rating on shares of Transportadora De Gas Sa Ord B in a research note on Thursday, June 18th. One research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, Transportadora De Gas Sa Ord B has a consensus rating of "Hold" and a consensus target price of $39.00.

Transportadora De Gas Sa Ord B Company Profile

Transportadora de Gas del Sur SA NYSE: TGS is an Argentina‐based midstream energy company principally engaged in the transportation, storage and processing of natural gas. Established in 1992 following the privatization of the state‐owned gas utility, TGS operates one of the country's largest pipeline networks, carrying gas from production basins in the Neuquén and Golfo San Jorge regions to major consumption markets in Buenos Aires and beyond. The company's infrastructure supports both domestic supply and export volumes bound for neighboring countries.

In addition to its core pipeline business, TGS maintains a significant gas processing division that extracts natural gas liquids (NGL) and produces liquefied petroleum gas (LPG) and other by‐products.

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