Pampa Energia (NYSE:PAM) Upgraded to “Buy” at HSBC

Pampa Energia (NYSE:PAM) was upgraded by equities research analysts at HSBC from a “hold” rating to a “buy” rating in a note issued to investors on Thursday, Marketbeat reports. The firm presently has a $97.00 price objective on the utilities provider’s stock. HSBC’s target price suggests a potential upside of 14.60% from the stock’s previous close.

Several other research analysts also recently issued reports on the stock. Weiss Ratings restated a “hold (c-)” rating on shares of Pampa Energia in a report on Thursday, January 22nd. Zacks Research downgraded Pampa Energia from a “hold” rating to a “strong sell” rating in a research report on Wednesday, December 31st. Two investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $105.00.

Pampa Energia Price Performance

PAM opened at $84.64 on Thursday. The business has a 50 day moving average of $82.56 and a 200-day moving average of $78.11. The company has a debt-to-equity ratio of 0.51, a current ratio of 3.11 and a quick ratio of 2.75. Pampa Energia has a 1-year low of $54.95 and a 1-year high of $94.50.

Pampa Energia (NYSE:PAM) last announced its earnings results on Monday, March 2nd. The utilities provider reported $3.00 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.65 by $2.35. The business had revenue of $96.00 million for the quarter, compared to analyst estimates of $737.30 billion. Pampa Energia had a net margin of 18.87% and a return on equity of 10.75%. On average, equities analysts expect that Pampa Energia will post 9.33 EPS for the current fiscal year.

Hedge Funds Weigh In On Pampa Energia

A number of hedge funds have recently made changes to their positions in the business. Personal CFO Solutions LLC lifted its holdings in shares of Pampa Energia by 6.8% during the 2nd quarter. Personal CFO Solutions LLC now owns 4,335 shares of the utilities provider’s stock worth $301,000 after acquiring an additional 276 shares during the period. Pictet Asset Management Holding SA increased its stake in Pampa Energia by 1.9% in the fourth quarter. Pictet Asset Management Holding SA now owns 16,531 shares of the utilities provider’s stock valued at $1,463,000 after acquiring an additional 316 shares during the period. Raymond James Financial Inc. acquired a new position in Pampa Energia in the second quarter worth about $37,000. NFJ Investment Group LLC bought a new position in Pampa Energia during the fourth quarter worth about $104,000. Finally, BNP Paribas Financial Markets lifted its stake in Pampa Energia by 10.4% during the third 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 during the period. Institutional investors and hedge funds 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.