Pampa Energía (NYSE:PAM) Hits New 1-Year High – Time to Buy?

Pampa Energía S.A. (NYSE:PAM)’s stock price hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $69.00 and last traded at $68.58, with a volume of 36059 shares traded. The stock had previously closed at $67.66.

Wall Street Analysts Forecast Growth

Several research firms recently commented on PAM. StockNews.com raised Pampa Energía from a “hold” rating to a “buy” rating in a research note on Monday, August 12th. Bank of America increased their target price on shares of Pampa Energía from $62.00 to $72.00 and gave the company a “buy” rating in a research report on Wednesday, September 11th. Citigroup upgraded shares of Pampa Energía from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $51.00 to $58.00 in a research report on Wednesday, July 3rd. Finally, JPMorgan Chase & Co. raised their target price on shares of Pampa Energía from $47.00 to $55.00 and gave the stock a “neutral” rating in a research note on Wednesday, September 25th. Two analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, Pampa Energía currently has an average rating of “Moderate Buy” and a consensus target price of $57.75.

Pampa Energía Stock Performance

The firm’s 50 day moving average price is $58.35 and its two-hundred day moving average price is $50.21. The firm has a market cap of $3.72 billion, a PE ratio of 8.66 and a beta of 0.89. The company has a debt-to-equity ratio of 0.44, a quick ratio of 2.01 and a current ratio of 2.33.

Pampa Energía (NYSE:PAM) last issued its quarterly earnings data on Wednesday, August 7th. The utilities provider reported $1.80 earnings per share for the quarter, topping the consensus estimate of $1.36 by $0.44. The company had revenue of $500.00 million during the quarter, compared to analyst estimates of $479.17 million. Pampa Energía had a return on equity of 12.59% and a net margin of 20.96%. On average, research analysts forecast that Pampa Energía S.A. will post 9.54 earnings per share for the current year.

Institutional Trading of Pampa Energía

Institutional investors have recently added to or reduced their stakes in the stock. Helikon Investments Ltd grew its stake in shares of Pampa Energía by 20.2% in the first quarter. Helikon Investments Ltd now owns 748,085 shares of the utilities provider’s stock valued at $32,272,000 after buying an additional 125,519 shares in the last quarter. Cubist Systematic Strategies LLC acquired a new position in Pampa Energía in the 2nd quarter valued at about $950,000. Truist Financial Corp purchased a new stake in Pampa Energía during the second quarter worth about $854,000. Millennium Management LLC lifted its position in shares of Pampa Energía by 428.0% during the second quarter. Millennium Management LLC now owns 628,522 shares of the utilities provider’s stock worth $27,818,000 after purchasing an additional 509,487 shares in the last quarter. Finally, Claro Advisors LLC boosted its stake in shares of Pampa Energía by 6.0% in the first quarter. Claro Advisors LLC now owns 5,075 shares of the utilities provider’s stock valued at $219,000 after purchasing an additional 286 shares during the period. Institutional investors and hedge funds own 12.77% of the company’s stock.

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.