ABS Direct Equity Fund LLC Takes $360,000 Position in Pampa Energía S.A. (NYSE:PAM)

ABS Direct Equity Fund LLC acquired a new position in Pampa Energía S.A. (NYSE:PAM) in the third quarter, Holdings Channel.com reports. The institutional investor acquired 6,000 shares of the utilities provider’s stock, valued at approximately $360,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Helikon Investments Ltd boosted its position in Pampa Energía by 146.6% during the 3rd quarter. Helikon Investments Ltd now owns 1,319,415 shares of the utilities provider’s stock worth $79,218,000 after acquiring an additional 784,407 shares during the period. Millennium Management LLC lifted its holdings in 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 purchasing an additional 509,487 shares during the period. Fourth Sail Capital LP bought a new position in Pampa Energía in the 3rd quarter valued at about $8,552,000. Ping Capital Management Inc. acquired a new position in Pampa Energía during the 2nd quarter valued at about $2,470,000. Finally, Point72 Asset Management L.P. acquired a new position in Pampa Energía during the 3rd quarter valued at about $2,738,000. 12.77% of the stock is owned by institutional investors.

Pampa Energía Stock Performance

PAM opened at $87.79 on Tuesday. The business has a fifty day simple moving average of $72.52 and a 200-day simple moving average of $57.66. The firm has a market cap of $4.79 billion, a PE ratio of 13.51 and a beta of 0.96. The company has a quick ratio of 2.13, a current ratio of 2.41 and a debt-to-equity ratio of 0.44. Pampa Energía S.A. has a fifty-two week low of $38.15 and a fifty-two week high of $90.40.

Pampa Energía (NYSE:PAM) last issued its quarterly earnings results on Wednesday, November 6th. The utilities provider reported $2.70 earnings per share for the quarter, topping analysts’ consensus estimates of $1.75 by $0.95. The firm had revenue of $540.00 million for the quarter, compared to analysts’ expectations of $517.71 million. Pampa Energía had a return on equity of 12.15% and a net margin of 19.86%. During the same quarter last year, the business posted $2.80 EPS. As a group, equities analysts predict that Pampa Energía S.A. will post 8.65 EPS for the current fiscal year.

Analyst Ratings Changes

Several research firms have recently issued reports on PAM. Bank of America increased their price objective on shares of Pampa Energía from $62.00 to $72.00 and gave the company a “buy” rating in a report on Wednesday, September 11th. StockNews.com upgraded Pampa Energía from a “hold” rating to a “buy” rating in a research report on Thursday, November 14th. JPMorgan Chase & Co. raised their target price on Pampa Energía from $55.00 to $59.00 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. Finally, Citigroup cut shares of Pampa Energía from a “buy” rating to a “neutral” rating and boosted their price target for the stock from $58.00 to $75.00 in a research report on Friday, November 1st. Three 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, Pampa Energía presently has a consensus rating of “Hold” and a consensus price target of $63.00.

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.