Short Interest in Transportadora De Gas Sa Ord B (NYSE:TGS) Expands By 53.3%

Key Points

• Short interest rose 53.3% to 211,300 shares as of August 14, representing 0.1% of outstanding shares and a days-to-cover ratio of 0.8.
• Analyst sentiment is mixed but leans toward Hold: one analyst rates TGS Buy and two rate it Hold, with a consensus price target of $39.00.
• TGS reported quarterly EPS of $0.60, below the $0.63 consensus estimate, while revenue of $360.86 million exceeded expectations; shares recently traded at $29.30.

Transportadora De Gas Sa Ord B (NYSE:TGS - Get Free Report) was the recipient of a large growth in short interest during the month of August. As of August 14th, there was short interest totaling 211,300 shares, a growth of 53.3% from the July 30th total of 137,827 shares. Based on an average daily volume of 250,950 shares, the days-to-cover ratio is currently 0.8 days. Currently, 0.1% of the shares of the stock are short sold.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on TGS shares. Zacks Research downgraded shares of Transportadora De Gas Sa Ord B from a "strong-buy" rating to a "hold" rating in a report on Monday, June 29th. Weiss Ratings reissued a "hold (c-)" rating on shares of Transportadora De Gas Sa Ord B in a research report on Thursday, June 18th. Bank of America reissued a "buy" rating on shares of Transportadora De Gas Sa Ord B in a research report on Thursday, June 11th. Finally, Wall Street Zen downgraded shares of Transportadora De Gas Sa Ord B from a "buy" rating to a "hold" rating in a research report on Saturday, August 22nd. One investment analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $39.00.

Transportadora De Gas Sa Ord B Stock Performance

Shares of NYSE TGS traded up $0.40 during midday trading on Tuesday, hitting $29.30. The company's stock had a trading volume of 6,442 shares, compared to its average volume of 287,059. The company has a debt-to-equity ratio of 0.39, a quick ratio of 5.08 and a current ratio of 5.11. Transportadora De Gas Sa Ord B has a 1-year low of $19.74 and a 1-year high of $36.35. The firm's fifty day moving average price is $29.49 and its 200-day moving average price is $30.52. The firm has a market cap of $4.41 billion, a P/E ratio of 13.25, a P/E/G ratio of 0.58 and a beta of 0.63.

Transportadora De Gas Sa Ord B (NYSE:TGS - Get Free Report) last issued its earnings results on Monday, August 3rd. The energy company reported $0.60 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.63 by ($0.03). The business had revenue of $360.86 million during the quarter, compared to the consensus estimate of $286.98 million. Transportadora De Gas Sa Ord B had a return on equity of 14.03% and a net margin of 24.56%. On average, sell-side analysts forecast that Transportadora De Gas Sa Ord B will post 2.68 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Fifth Third Bancorp lifted its stake in Transportadora De Gas Sa Ord B by 116.0% in the first quarter. Fifth Third Bancorp now owns 1,657 shares of the energy company's stock valued at $57,000 after buying an additional 890 shares during the last quarter. Van ECK Associates Corp increased its holdings in shares of Transportadora De Gas Sa Ord B by 536.6% in the 4th quarter. Van ECK Associates Corp now owns 4,348 shares of the energy company's stock worth $135,000 after acquiring an additional 3,665 shares during the period. BNP Paribas Financial Markets lifted its position in Transportadora De Gas Sa Ord B by 1,027.7% in the 3rd quarter. BNP Paribas Financial Markets now owns 8,390 shares of the energy company's stock valued at $176,000 after purchasing an additional 7,646 shares during the last quarter. Uniplan Investment Counsel Inc. bought a new stake in Transportadora De Gas Sa Ord B in the 4th quarter valued at about $205,000. Finally, Janney Montgomery Scott LLC acquired a new position in Transportadora De Gas Sa Ord B during the 1st quarter valued at about $210,000. Institutional investors and hedge funds own 3.29% of the company's stock.

About Transportadora De Gas Sa Ord B

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source