Pampa Energía (NYSE:PAM) Price Target Raised to $93.50

Pampa Energía (NYSE:PAM) had its price objective increased by stock analysts at JPMorgan Chase & Co. from $59.00 to $93.50 in a research note issued on Friday,Benzinga reports. The firm currently has a “neutral” rating on the utilities provider’s stock. JPMorgan Chase & Co.‘s price objective indicates a potential upside of 0.35% from the company’s previous close.

PAM has been the topic of several other reports. Citigroup downgraded shares of Pampa Energía from a “buy” rating to a “neutral” rating and increased their price target for the stock from $58.00 to $75.00 in a research report on Friday, November 1st. StockNews.com upgraded Pampa Energía from a “hold” rating to a “buy” rating in a research report on Thursday, November 14th. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $71.63.

Pampa Energía Stock Performance

PAM traded up $0.49 during mid-day trading on Friday, reaching $93.17. 94,308 shares of the company traded hands, compared to its average volume of 288,060. The stock has a market capitalization of $5.08 billion, a P/E ratio of 14.33 and a beta of 0.94. Pampa Energía has a 52-week low of $38.15 and a 52-week high of $97.55. The company has a quick ratio of 2.13, a current ratio of 2.41 and a debt-to-equity ratio of 0.44. The company’s fifty day moving average price is $83.75 and its 200-day moving average price is $64.46.

Pampa Energía (NYSE:PAM) last released its quarterly earnings results on Wednesday, November 6th. The utilities provider reported $2.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.75 by $0.95. Pampa Energía had a return on equity of 12.15% and a net margin of 19.86%. The business had revenue of $540.00 million during the quarter, compared to the consensus estimate of $517.71 million. During the same period in the previous year, the company posted $2.80 EPS. On average, sell-side analysts expect that Pampa Energía will post 8.65 EPS for the current year.

Hedge Funds Weigh In On Pampa Energía

Large investors have recently made changes to their positions in the business. Helikon Investments Ltd boosted its holdings in shares of Pampa Energía by 146.6% during the 3rd quarter. Helikon Investments Ltd now owns 1,319,415 shares of the utilities provider’s stock valued at $79,218,000 after purchasing an additional 784,407 shares during the last quarter. Millennium Management LLC lifted its position in shares of Pampa Energía by 428.0% in the second quarter. Millennium Management LLC now owns 628,522 shares of the utilities provider’s stock worth $27,818,000 after buying an additional 509,487 shares in the last quarter. TT International Asset Management LTD boosted its stake in Pampa Energía by 797.4% during the third quarter. TT International Asset Management LTD now owns 343,880 shares of the utilities provider’s stock valued at $20,646,000 after buying an additional 305,559 shares during the last quarter. Fourth Sail Capital LP bought a new position in Pampa Energía during the third quarter valued at approximately $8,552,000. Finally, Point72 Asset Management L.P. purchased a new position in Pampa Energía during the 3rd quarter valued at approximately $2,738,000. 12.77% of the stock is currently owned by hedge funds and other institutional investors.

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.