Transportadora de Gas del Sur (NYSE:TGS) Downgraded by Zacks Investment Research to “Hold”

Zacks Investment Research lowered shares of Transportadora de Gas del Sur (NYSE:TGS) from a strong-buy rating to a hold rating in a report issued on Thursday morning, Zacks.com reports.

According to Zacks, “Transportadora de Gas del Sur, S.A. transports natural gas in Argentina. The Company’s pipeline systems connect major gas fields in southern and western Argentina with distributors of gas in those areas and in the greater Buenos Aires area. Transportadora’s service area contains approximately 4.7 million end users, including approximately 2.7 milliom in the greater Buenos Aires area. “

TGS has been the subject of a number of other research reports. ValuEngine cut shares of Transportadora de Gas del Sur from a sell rating to a strong sell rating in a research note on Monday, August 12th. Morgan Stanley cut shares of Transportadora de Gas del Sur from an equal weight rating to an underweight rating in a research note on Tuesday, August 13th. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and one has assigned a buy rating to the company’s stock. Transportadora de Gas del Sur has an average rating of Hold and an average target price of $18.00.

Shares of TGS stock opened at $9.71 on Thursday. The stock has a market cap of $1.49 billion, a P/E ratio of 4.98 and a beta of 0.54. The company has a debt-to-equity ratio of 0.63, a current ratio of 3.04 and a quick ratio of 3.01. The company has a fifty day moving average price of $14.56 and a two-hundred day moving average price of $13.68. Transportadora de Gas del Sur has a one year low of $6.05 and a one year high of $17.78.

Hedge funds have recently made changes to their positions in the business. Oaktree Capital Management LP increased its holdings in Transportadora de Gas del Sur by 51.4% in the 2nd quarter. Oaktree Capital Management LP now owns 1,043,000 shares of the energy company’s stock valued at $15,082,000 after buying an additional 354,000 shares during the period. HM Payson & Co. bought a new position in Transportadora de Gas del Sur in the 2nd quarter valued at about $36,000. Amundi Pioneer Asset Management Inc. increased its holdings in Transportadora de Gas del Sur by 66.1% in the 2nd quarter. Amundi Pioneer Asset Management Inc. now owns 417,173 shares of the energy company’s stock valued at $6,033,000 after buying an additional 166,073 shares during the period. Susquehanna Fundamental Investments LLC bought a new position in Transportadora de Gas del Sur in the 2nd quarter valued at about $703,000. Finally, Pictet Asset Management Ltd. bought a new position in Transportadora de Gas del Sur in the 2nd quarter valued at about $249,000. Hedge funds and other institutional investors own 9.38% of the company’s stock.

About Transportadora de Gas del Sur

Transportadora de Gas del Sur SA provides natural gas transportation and distribution services in Argentina. The company operates through four segments: Natural Gas Transportation, Liquids Production and Commercialization, Other Services, and Telecommunications. The Natural Gas Transportation segment transports natural gas through 5,706 miles of pipeline system to distribution companies, power plants, and industrial customers.

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