Bank of America Raises Pampa Energía (NYSE:PAM) Price Target to $72.00

Pampa Energía (NYSE:PAM) had its target price hoisted by Bank of America from $62.00 to $72.00 in a research note issued to investors on Wednesday, Benzinga reports. Bank of America currently has a buy rating on the utilities provider’s stock.

PAM has been the topic of a number of other reports. Citigroup upgraded Pampa Energía from a neutral rating to a buy rating and raised their target price for the company from $51.00 to $58.00 in a research report on Wednesday, July 3rd. HSBC upgraded Pampa Energía from a reduce rating to a hold rating and set a $46.00 price objective for the company in a research report on Tuesday, May 21st. StockNews.com upgraded Pampa Energía from a hold rating to a buy rating in a research report on Monday, August 12th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Pampa Energía from $46.50 to $47.50 and gave the company a neutral rating in a research note on Tuesday, May 28th. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of Moderate Buy and a consensus target price of $55.88.

Pampa Energía Trading Up 0.3 %

Pampa Energía stock opened at $59.14 on Wednesday. The firm has a market cap of $3.23 billion, a PE ratio of 7.57 and a beta of 0.89. Pampa Energía has a 12 month low of $32.91 and a 12 month high of $59.84. The stock’s 50 day simple moving average is $49.66 and its two-hundred day simple moving average is $46.31. The company has a current ratio of 2.33, a quick ratio of 2.01 and a debt-to-equity ratio of 0.44.

Pampa Energía (NYSE:PAM) last announced 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. The firm had revenue of $500.00 million for the quarter, compared to the consensus estimate of $479.17 million. Pampa Energía had a net margin of 20.96% and a return on equity of 12.59%. Analysts anticipate that Pampa Energía will post 8.95 earnings per share for the current year.

Institutional Investors Weigh In On Pampa Energía

Several institutional investors and hedge funds have recently added to or reduced their stakes in PAM. Millennium Management LLC raised 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 valued at $27,818,000 after buying an additional 509,487 shares during the last quarter. Helikon Investments Ltd raised its holdings in Pampa Energía by 32.0% in the 4th quarter. Helikon Investments Ltd now owns 622,566 shares of the utilities provider’s stock valued at $30,829,000 after acquiring an additional 151,000 shares during the last quarter. Murchinson Ltd. acquired a new stake in Pampa Energía in the 1st quarter valued at about $3,020,000. Ping Capital Management Inc. purchased a new position in Pampa Energía in the 2nd quarter worth approximately $2,470,000. Finally, Banco BTG Pactual S.A. boosted its holdings in shares of Pampa Energía by 472.8% during the 4th quarter. Banco BTG Pactual S.A. now owns 41,410 shares of the utilities provider’s stock worth $2,015,000 after purchasing an additional 34,181 shares during the last quarter. 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.