Pampa Energia (NYSE:PAM) Issues Quarterly Earnings Results

Pampa Energia (NYSE:PAM) announced its quarterly earnings data on Tuesday. The utilities provider reported $2.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.47 by $0.03, FiscalAI reports. The firm had revenue of $746.00 million for the quarter, compared to analysts’ expectations of $743.17 million. Pampa Energia had a return on equity of 12.23% and a net margin of 20.31%.

Pampa Energia Trading Down 2.1%

PAM traded down $1.83 during midday trading on Tuesday, reaching $84.89. 210,688 shares of the company’s stock traded hands, compared to its average volume of 223,046. The firm has a fifty day moving average of $84.22 and a two-hundred day moving average of $83.32. The stock has a market capitalization of $4.56 billion, a price-to-earnings ratio of 10.58, a P/E/G ratio of 2.32 and a beta of 0.97. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.04 and a quick ratio of 1.78. Pampa Energia has a 52 week low of $54.95 and a 52 week high of $94.50.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on PAM. JPMorgan Chase & Co. increased their target price on Pampa Energia from $97.50 to $101.50 and gave the company a “neutral” rating in a report on Monday, June 1st. Weiss Ratings reiterated a “hold (c)” rating on shares of Pampa Energia in a research report on Friday, June 12th. Zacks Research cut shares of Pampa Energia from a “strong-buy” rating to a “hold” rating in a report on Monday, July 27th. Finally, Wall Street Zen downgraded shares of Pampa Energia from a “strong-buy” rating to a “buy” rating in a research note on Saturday, June 20th. Two investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $103.83.

Insiders Place Their Bets

In other news, Director Marcos Marcelo Mindlin sold 1,500,000 shares of Pampa Energia stock in a transaction that occurred on Wednesday, July 8th. The stock was sold at an average price of $3.54, for a total value of $5,310,000.00. Following the sale, the director directly owned 20,055,667 shares in the company, valued at approximately $70,997,061.18. This trade represents a 6.96% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Damian Miguel Mindlin sold 555,000 shares of the business’s stock in a transaction that occurred on Wednesday, June 3rd. The shares were sold at an average price of $3.55, for a total value of $1,970,250.00. Following the transaction, the insider directly owned 12,541,870 shares in the company, valued at $44,523,638.50. This trade represents a 4.24% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders acquired 1,710,694 shares of company stock worth $7,701,005 and sold 7,157,000 shares worth $24,696,070. Company insiders own 55.52% of the company’s stock.

Institutional Trading of Pampa Energia

Several large investors have recently added to or reduced their stakes in the stock. Raymond James Financial Inc. bought a new stake in Pampa Energia in the 2nd quarter valued at $37,000. BNP Paribas Financial Markets lifted its stake in Pampa Energia by 10.4% in the 3rd quarter. BNP Paribas Financial Markets now owns 13,672 shares of the utilities provider’s stock worth $821,000 after purchasing an additional 1,290 shares in the last quarter. Diversify Advisory Services LLC lifted its stake in Pampa Energia by 23.3% in the 2nd quarter. Diversify Advisory Services LLC now owns 7,172 shares of the utilities provider’s stock worth $546,000 after purchasing an additional 1,353 shares in the last quarter. Van ECK Associates Corp bought a new position in shares of Pampa Energia during the 3rd quarter valued at about $139,000. Finally, Arete Wealth Advisors LLC bought a new position in shares of Pampa Energia during the 4th quarter valued at about $212,000. Institutional investors own 12.77% of the company’s stock.

About Pampa Energia

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.