Raymond James & Associates Cuts Stock Position in Pampa Energía S.A. (NYSE:PAM)

Raymond James & Associates lowered its position in Pampa Energía S.A. (NYSE:PAM) by 28.5% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 9,117 shares of the utilities provider’s stock after selling 3,638 shares during the period. Raymond James & Associates’ holdings in Pampa Energía were worth $395,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of PAM. Envestnet Asset Management Inc. grew its position in shares of Pampa Energía by 31.6% in the 1st quarter. Envestnet Asset Management Inc. now owns 14,137 shares of the utilities provider’s stock worth $334,000 after buying an additional 3,393 shares during the last quarter. Great West Life Assurance Co. Can acquired a new stake in Pampa Energía in the 1st quarter worth approximately $88,000. Renaissance Technologies LLC boosted its stake in Pampa Energía by 143.5% in the 1st quarter. Renaissance Technologies LLC now owns 76,860 shares of the utilities provider’s stock worth $1,816,000 after purchasing an additional 45,300 shares in the last quarter. UBS Group AG boosted its stake in Pampa Energía by 726.1% in the 1st quarter. UBS Group AG now owns 4,560 shares of the utilities provider’s stock worth $108,000 after purchasing an additional 4,008 shares in the last quarter. Finally, Eaton Vance Management boosted its stake in Pampa Energía by 420,600.0% in the 1st quarter. Eaton Vance Management now owns 210,350 shares of the utilities provider’s stock worth $4,971,000 after purchasing an additional 210,300 shares in the last quarter. Hedge funds and other institutional investors own 12.86% of the company’s stock.

Analyst Ratings Changes

PAM has been the subject of a number of recent analyst reports. HSBC cut shares of Pampa Energía from a “hold” rating to a “reduce” rating and set a $30.00 target price for the company. in a research note on Thursday, September 7th. Bank of America initiated coverage on shares of Pampa Energía in a research note on Wednesday, August 2nd. They issued a “buy” rating for the company. StockNews.com cut shares of Pampa Energía from a “buy” rating to a “hold” rating in a research note on Tuesday, October 31st. Finally, Jefferies Financial Group assumed coverage on shares of Pampa Energía in a research note on Thursday, September 21st. They set a “buy” rating for the company. One analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $30.00.

Pampa Energía Price Performance

NYSE:PAM opened at $35.84 on Friday. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.97 and a quick ratio of 1.76. The firm has a market cap of $1.95 billion, a price-to-earnings ratio of 3.30, a price-to-earnings-growth ratio of 0.32 and a beta of 0.92. The company has a 50 day moving average price of $39.66 and a 200-day moving average price of $40.17. Pampa Energía S.A. has a 1-year low of $24.84 and a 1-year high of $48.79.

Pampa Energía (NYSE:PAM) last posted its earnings results on Wednesday, August 9th. The utilities provider reported $3.01 earnings per share for the quarter, beating the consensus estimate of $1.44 by $1.57. The firm had revenue of $464.00 million during the quarter, compared to analyst estimates of $435.14 million. Pampa Energía had a net margin of 32.22% and a return on equity of 23.32%. During the same period in the previous year, the firm earned $1.20 EPS. Equities research analysts forecast that Pampa Energía S.A. will post 7.86 EPS for the current year.

About Pampa Energía

Pampa Energía SA operates as an independent energy integrated company in Argentina. The company operates through Electricity Generation, Oil and Gas, Petrochemicals, and Holding and Other Business segments. It generates electricity through thermal generation plants, thermal gas-fired thermal generation plants, and hydroelectric power generation systems, as well as through a wind farm.