Pampa Energía (NYSE:PAM) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a note issued to investors on Wednesday.
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. “
Separately, Morgan Stanley raised shares of Pampa Energía from an “equal weight” rating to an “overweight” rating and set a $69.00 price objective for the company in a research note on Tuesday, March 13th. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $71.00.
Pampa Energía (NYSE:PAM) last issued its quarterly earnings data on Monday, March 12th. The utilities provider reported $1.38 EPS for the quarter, topping analysts’ consensus estimates of $0.74 by $0.64. The company had revenue of $727.36 million during the quarter. Pampa Energía had a net margin of 8.09% and a return on equity of 30.27%. sell-side analysts predict that Pampa Energía will post 3.89 EPS for the current fiscal year.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Investec Asset Management LTD grew its holdings in Pampa Energía by 227.7% in the fourth quarter. Investec Asset Management LTD now owns 103,174 shares of the utilities provider’s stock worth $6,942,000 after purchasing an additional 71,685 shares during the last quarter. Dorsey Wright & Associates grew its holdings in Pampa Energía by 37.4% in the fourth quarter. Dorsey Wright & Associates now owns 219,154 shares of the utilities provider’s stock worth $14,745,000 after purchasing an additional 59,687 shares during the last quarter. Deutsche Bank AG grew its holdings in Pampa Energía by 101.9% in the fourth quarter. Deutsche Bank AG now owns 258,922 shares of the utilities provider’s stock worth $17,419,000 after purchasing an additional 130,695 shares during the last quarter. Goldman Sachs Group Inc. grew its holdings in Pampa Energía by 2.9% in the fourth quarter. Goldman Sachs Group Inc. now owns 1,540,981 shares of the utilities provider’s stock worth $103,677,000 after purchasing an additional 42,803 shares during the last quarter. Finally, Capital Fund Management S.A. purchased a new position in Pampa Energía in the fourth quarter worth $370,000. 44.39% of the stock is currently owned by institutional investors and hedge funds.
Pampa Energía Company Profile
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, combined gas and fuel oil turbines, and hydroelectric power generation systems, as well as through a wind farm.
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