Zacks Investment Research Upgrades Pampa Energia (NYSE:PAM) to “Hold”

Zacks Investment Research upgraded shares of Pampa Energia (NYSE:PAM) from a strong sell rating to a hold rating in a research note published on Wednesday, Zacks.com reports.

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. “

Other equities research analysts have also recently issued reports about the stock. Citigroup cut shares of Pampa Energia from a buy rating to a neutral rating in a research report on Monday, July 1st. TheStreet raised shares of Pampa Energia from a d+ rating to a c rating in a research report on Wednesday, June 26th. Bank of America cut shares of Pampa Energia from a buy rating to a neutral rating and cut their price target for the stock from $52.50 to $33.00 in a research report on Tuesday, August 13th. Morgan Stanley cut shares of Pampa Energia from an overweight rating to an equal weight rating in a research report on Monday, August 12th. Finally, ValuEngine cut shares of Pampa Energia from a sell rating to a strong sell rating in a research report on Thursday, August 1st. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the company. The company has an average rating of Hold and a consensus target price of $37.00.

PAM opened at $17.34 on Wednesday. The stock has a market capitalization of $1.12 billion, a P/E ratio of -11.33, a P/E/G ratio of 0.26 and a beta of 0.60. Pampa Energia has a 12 month low of $14.32 and a 12 month high of $39.89. The firm’s fifty day simple moving average is $31.99 and its 200 day simple moving average is $29.45. The company has a current ratio of 1.24, a quick ratio of 1.20 and a debt-to-equity ratio of 0.66.

Hedge funds have recently modified their holdings of the company. James Investment Research Inc. grew its stake in Pampa Energia by 44.4% in the 2nd quarter. James Investment Research Inc. now owns 1,300 shares of the utilities provider’s stock valued at $45,000 after buying an additional 400 shares during the last quarter. FNY Investment Advisers LLC acquired a new position in Pampa Energia in the 2nd quarter valued at about $49,000. Aperio Group LLC acquired a new position in Pampa Energia in the 2nd quarter valued at about $49,000. Bank of Montreal Can acquired a new position in Pampa Energia in the 2nd quarter valued at about $49,000. Finally, Pictet Asset Management Ltd. acquired a new position in Pampa Energia in the 2nd quarter valued at about $105,000. 37.81% of the stock is currently owned by institutional investors.

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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Analyst Recommendations for Pampa Energia (NYSE:PAM)

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