Pampa Energía (NYSE:PAM) Lifted to “Buy” at Citigroup

Citigroup upgraded shares of Pampa Energía (NYSE:PAM) from a neutral rating to a buy rating in a report issued on Wednesday morning, MarketBeat.com reports. They currently have $58.00 price objective on the utilities provider’s stock, up from their previous price objective of $51.00.

A number of other brokerages also recently issued reports on PAM. JPMorgan Chase & Co. raised their price objective on Pampa Energía from $46.50 to $47.50 and gave the stock a neutral rating in a research report on Tuesday, May 28th. StockNews.com downgraded Pampa Energía from a buy rating to a hold rating in a research report on Thursday, May 30th. Finally, HSBC raised Pampa Energía from a reduce rating to a hold rating and set a $46.00 target price for the company in a research report on Tuesday, May 21st. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of Moderate Buy and a consensus price target of $50.50.

Pampa Energía Stock Up 1.0 %

NYSE PAM opened at $45.09 on Wednesday. Pampa Energía has a 52 week low of $32.91 and a 52 week high of $52.17. The company has a quick ratio of 2.26, a current ratio of 2.63 and a debt-to-equity ratio of 0.45. The business’s fifty day simple moving average is $46.12 and its 200-day simple moving average is $45.40. The firm has a market cap of $2.46 billion, a PE ratio of 5.77 and a beta of 0.99.

Pampa Energía (NYSE:PAM) last issued its quarterly earnings data on Tuesday, May 7th. The utilities provider reported $4.90 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.38 by $3.52. The firm had revenue of $401.00 million during the quarter, compared to the consensus estimate of $419.61 million. Pampa Energía had a return on equity of 14.99% and a net margin of 25.16%. As a group, equities analysts anticipate that Pampa Energía will post 7.91 earnings per share for the current year.

Hedge Funds Weigh In On Pampa Energía

Several institutional investors have recently bought and sold shares of PAM. TT International Asset Management LTD acquired a new position in shares of Pampa Energía during the fourth quarter worth about $7,675,000. Helikon Investments Ltd lifted its stake in Pampa Energía by 32.0% during the fourth quarter. Helikon Investments Ltd now owns 622,566 shares of the utilities provider’s stock worth $30,829,000 after purchasing an additional 151,000 shares during the last quarter. Murchinson Ltd. purchased a new stake in Pampa Energía during the first quarter worth approximately $3,020,000. Mirae Asset Global Investments Co. Ltd. lifted its stake in Pampa Energía by 62.2% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 143,890 shares of the utilities provider’s stock worth $7,125,000 after purchasing an additional 55,187 shares during the last quarter. Finally, Glenorchy Capital Ltd purchased a new stake in Pampa Energía during the fourth quarter worth approximately $2,125,000. 12.77% of the stock is owned by institutional investors and hedge funds.

About Pampa Energía

Pampa Energía SA operates as an integrated power company in Argentina. The company operates through Electricity Generation, Oil and Gas, Petrochemicals, and Holding and Other Business segments. It generates electricity through thermal plants, hydroelectric plants, and wind farms with a 5,332 megawatt (MW) installed capacity.