Pampa Energía (NYSE:PAM) Sets New 52-Week High – Still a Buy?

Pampa Energía S.A. (NYSE:PAM)’s stock price hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $66.25 and last traded at $66.23, with a volume of 9317 shares traded. The stock had previously closed at $65.60.

Wall Street Analyst Weigh In

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

Pampa Energía Price Performance

The company has a current ratio of 2.33, a quick ratio of 2.01 and a debt-to-equity ratio of 0.44. The firm has a 50 day moving average of $56.47 and a 200-day moving average of $49.38. The company has a market cap of $3.59 billion, a P/E ratio of 8.40 and a beta of 0.89.

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

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in PAM. Millennium Management LLC raised its position in shares of Pampa Energía by 428.0% in the 2nd quarter. Millennium Management LLC now owns 628,522 shares of the utilities provider’s stock worth $27,818,000 after acquiring an additional 509,487 shares in the last quarter. Helikon Investments Ltd increased its position in Pampa Energía by 20.2% during the 1st 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. Murchinson Ltd. acquired a new position in Pampa Energía during the 1st quarter valued at about $3,020,000. Ping Capital Management Inc. acquired a new position in Pampa Energía during the 2nd quarter valued at about $2,470,000. Finally, Cubist Systematic Strategies LLC acquired a new position in Pampa Energía during the 2nd quarter valued at about $950,000. 12.77% of the stock is owned by institutional investors.

Pampa Energía Company Profile

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.