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Transportadora de Gas Del Sur SA. ( TGS , quote ), or Gas Transporter of the South, is the largest transporter of natural gas in Argentina, and its stock has crashed. Like many other publicly traded companies under the jurisdiction of Argentinian President Cristina Fernandez, those holding a short position have prospered while those long have "held with pride" - or more than likely taken capital gains losses selling their shares, as the stock is down 24.67% for 2012.

While the stock performance has been weak, the income statement and balance sheet are strong.

TGS has a gross margin of 57.65% vs. the industry average of 22.67%; an operating margin of 29.80% vs. the industry average of 13.61%, and a pretax margin of 15.84% vs. the industry average of 10.73%. The profit margin for Transportadora de Gas Del Sur is 12.44%.

Both sales and earnings-per-share growth are up on a quarterly basis. For the year, earnings-per-share growth has risen more than 70%, while next year earnings-per-share growth is expected to increase by more than 50%. The price-to-earnings ratio is under 7, while the average price-to-earnings ratio for a stock on the Standard & Poor's 500 Index is around 15.

TGS plunged around the time of the YPF ( YPF , quote ) nationalization announcement. It hit a 52-week low of $1.86 but has since rebounded to $2.31 a share. Always offering a healthy dividend, as a result of the recent plunge in share price, the yield is now a healthy 66.61%.

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