Zacks Investment Research upgraded shares of Pampa Energia (NYSE:PAM) from a sell rating to a hold rating in a research report report published on Tuesday.
According to Zacks, “Pampa Energía S.A. is the largest fully integrated electricity company in Argentina. Through its subsidiaries, the Company is engaged in the generation, transmission and distribution of electricity in Argentina. “
Several other equities analysts have also recently weighed in on PAM. Credit Suisse Group raised shares of Pampa Energia from a neutral rating to an outperform rating in a research report on Wednesday, November 21st. ValuEngine raised shares of Pampa Energia from a sell rating to a hold rating in a research report on Wednesday, September 19th. JPMorgan Chase & Co. set a $52.00 price target on shares of Pampa Energia and gave the company a buy rating in a research report on Wednesday, November 14th. HSBC began coverage on shares of Pampa Energia in a research report on Thursday, August 30th. They issued a buy rating and a $40.00 price target on the stock. Finally, Bank of America set a $55.00 price target on shares of Pampa Energia and gave the company a buy rating in a research report on Friday, September 14th. Two analysts have rated the stock with a hold rating and six have given a buy rating to the company. The stock currently has an average rating of Buy and an average target price of $57.00.
Shares of PAM opened at $35.72 on Tuesday. The company has a debt-to-equity ratio of 29.14, a current ratio of 1.48 and a quick ratio of 1.38. The stock has a market capitalization of $2.67 billion, a PE ratio of 10.06 and a beta of 0.87. Pampa Energia has a one year low of $24.93 and a one year high of $72.98.
Pampa Energia (NYSE:PAM) last issued its earnings results on Monday, November 12th. The utilities provider reported ($3.01) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($2.59) by ($0.42). The firm had revenue of $843.05 million during the quarter, compared to analyst estimates of $828.34 million. Pampa Energia had a negative net margin of 3.26% and a negative return on equity of 29.17%. On average, sell-side analysts forecast that Pampa Energia will post -2.41 earnings per share for the current fiscal year.
A number of hedge funds and other institutional investors have recently made changes to their positions in PAM. Comerica Bank lifted its position in Pampa Energia by 60.1% in the 2nd quarter. Comerica Bank now owns 5,908 shares of the utilities provider’s stock valued at $222,000 after acquiring an additional 2,218 shares in the last quarter. CarVal Investors LLC bought a new position in shares of Pampa Energia during the 2nd quarter worth approximately $322,000. Progeny 3 Inc. lifted its position in shares of Pampa Energia by 997.0% during the 3rd quarter. Progeny 3 Inc. now owns 14,480 shares of the utilities provider’s stock worth $450,000 after buying an additional 13,160 shares in the last quarter. Legal & General Group Plc bought a new position in shares of Pampa Energia during the 3rd quarter worth approximately $485,000. Finally, Coronation Fund Managers Ltd. bought a new position in shares of Pampa Energia during the 3rd quarter worth approximately $492,000. 36.38% of the stock is currently owned by institutional investors and hedge funds.
About Pampa Energia
Pampa Energía SA, an integrated electricity company, through its subsidiaries, engages in the generation, transmission, and distribution of electricity in Argentina. The company generates electricity through combined cycle gas-fired generating units, thermal generation plants, open-cycle gas turbines, and hydroelectric power generation systems, as well as through a wind farm.
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