Pampa Energía (NYSE:PAM) Trading 4% Higher – What’s Next?

Pampa Energía S.A. (NYSE:PAM)’s stock price rose 4% during trading on Thursday . The company traded as high as $67.50 and last traded at $66.94. Approximately 101,939 shares were traded during mid-day trading, a decline of 61% from the average daily volume of 258,563 shares. The stock had previously closed at $64.36.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. Citigroup raised shares of Pampa Energía from a “neutral” rating to a “buy” rating and lifted their price objective for the stock 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 report on Monday, August 12th. JPMorgan Chase & Co. raised their target price on Pampa Energía from $47.00 to $55.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 25th. Finally, Bank of America upped their price target on Pampa Energía from $62.00 to $72.00 and gave the company a “buy” rating in a report on Wednesday, September 11th. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Pampa Energía presently has an average rating of “Moderate Buy” and an average price target of $57.75.

Pampa Energía Stock Performance

The firm has a fifty day simple moving average of $57.32 and a 200-day simple moving average of $49.64. The company has a quick ratio of 2.01, a current ratio of 2.33 and a debt-to-equity ratio of 0.44. The company has a market cap of $3.70 billion, a PE ratio of 8.62 and a beta of 0.89.

Pampa Energía (NYSE:PAM) last released its quarterly earnings results on Wednesday, August 7th. The utilities provider reported $1.80 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $500.00 million for the quarter, compared to the consensus estimate of $479.17 million. On average, research analysts forecast that Pampa Energía S.A. will post 9.54 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of PAM. GAMMA Investing LLC boosted its stake in shares of Pampa Energía by 32.7% during the third quarter. GAMMA Investing LLC now owns 1,401 shares of the utilities provider’s stock worth $84,000 after buying an additional 345 shares during the period. Truist Financial Corp purchased a new stake in Pampa Energía during the 2nd quarter valued at approximately $854,000. Driehaus Capital Management LLC raised its stake in Pampa Energía by 1.7% during the 2nd quarter. Driehaus Capital Management LLC now owns 23,308 shares of the utilities provider’s stock valued at $1,032,000 after acquiring an additional 398 shares during the last quarter. Millennium Management LLC lifted its position in Pampa Energía by 428.0% during 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 during the period. Finally, Cubist Systematic Strategies LLC purchased a new position in shares of Pampa Energía in the 2nd quarter valued at approximately $950,000. 12.77% of the stock is 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.