JPMorgan Chase & Co. Cuts Stock Holdings in Pampa Energia S.A. $PAM

JPMorgan Chase & Co. lowered its stake in shares of Pampa Energia S.A. (NYSE:PAM) by 28.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 228,039 shares of the utilities provider’s stock after selling 89,959 shares during the quarter. JPMorgan Chase & Co.’s holdings in Pampa Energia were worth $13,696,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of PAM. Helikon Investments Ltd boosted its holdings in Pampa Energia by 41.9% during the 3rd quarter. Helikon Investments Ltd now owns 698,775 shares of the utilities provider’s stock worth $41,968,000 after acquiring an additional 206,197 shares during the last quarter. Ping Capital Management Inc. raised its holdings in shares of Pampa Energia by 217.6% in the third quarter. Ping Capital Management Inc. now owns 242,000 shares of the utilities provider’s stock valued at $14,535,000 after purchasing an additional 165,800 shares during the last quarter. Banco BTG Pactual S.A. raised its holdings in shares of Pampa Energia by 467.2% in the second quarter. Banco BTG Pactual S.A. now owns 93,583 shares of the utilities provider’s stock valued at $6,493,000 after purchasing an additional 77,083 shares during the last quarter. Millennium Management LLC lifted its position in shares of Pampa Energia by 85.4% during the first quarter. Millennium Management LLC now owns 162,521 shares of the utilities provider’s stock valued at $12,547,000 after purchasing an additional 74,841 shares in the last quarter. Finally, Balyasny Asset Management L.P. lifted its position in shares of Pampa Energia by 68.7% during the third quarter. Balyasny Asset Management L.P. now owns 174,078 shares of the utilities provider’s stock valued at $10,455,000 after purchasing an additional 70,862 shares in the last quarter. 12.77% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Pampa Energia

In other news, VP Damian Miguel Mindlin sold 429,000 shares of the stock in a transaction that occurred on Wednesday, March 18th. The shares were sold at an average price of $3.45, for a total transaction of $1,480,050.00. Following the completion of the transaction, the vice president directly owned 14,768,847 shares of the company’s stock, valued at $50,952,522.15. This represents a 2.82% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Over the last ninety days, insiders have sold 729,477 shares of company stock worth $2,504,791. 55.52% of the stock is owned by corporate insiders.

Pampa Energia Price Performance

Shares of NYSE:PAM opened at $83.96 on Friday. The company’s 50-day moving average is $82.68 and its 200 day moving average is $79.50. The company has a debt-to-equity ratio of 0.51, a quick ratio of 2.75 and a current ratio of 3.11. The company has a market capitalization of $4.57 billion, a P/E ratio of 12.12, a price-to-earnings-growth ratio of 3.61 and a beta of 1.16. Pampa Energia S.A. has a fifty-two week low of $54.95 and a fifty-two week high of $94.50.

Pampa Energia (NYSE:PAM) last posted its quarterly earnings data on Sunday, February 15th. The utilities provider reported $2.50 earnings per share (EPS) for the quarter. The business had revenue of $507.00 million during the quarter. Pampa Energia had a net margin of 18.87% and a return on equity of 10.75%. On average, equities research analysts forecast that Pampa Energia S.A. will post 9.33 earnings per share for the current year.

Analysts Set New Price Targets

A number of brokerages have issued reports on PAM. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Pampa Energia in a research report on Thursday, January 22nd. Wall Street Zen raised shares of Pampa Energia from a “hold” rating to a “strong-buy” rating in a research report on Saturday, March 14th. HSBC raised Pampa Energia from a “hold” rating to a “buy” rating and upped their target price for the company from $88.00 to $97.00 in a report on Thursday, March 12th. Finally, Zacks Research downgraded Pampa Energia from a “hold” rating to a “strong sell” rating in a research report on Wednesday, December 31st. Two equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $105.00.

Pampa Energia Profile

Pampa Energía SA is Argentina’s largest independent energy company, with integrated operations spanning electricity generation, transmission, distribution and oil and gas activities. The company holds a diversified portfolio of thermal and hydroelectric power plants, along with growing investments in renewable energy projects, serving both domestic and regional markets.

In its electricity business, Pampa Energía develops and operates plants that supply energy to Argentina’s power grid.