Pampa Energia (NYSE:PAM) Rating Increased to Buy at HSBC

HSBC upgraded shares of Pampa Energia (NYSE:PAM) from a hold rating to a buy rating in a research report sent to investors on Thursday, MarketBeat reports. The brokerage currently has $97.00 price target on the utilities provider’s stock, up from their previous price target of $88.00.

A number of other brokerages have also recently issued reports on PAM. Zacks Research cut shares of Pampa Energia from a “hold” rating to a “strong sell” rating in a research note on Wednesday, December 31st. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Pampa Energia in a research note on Thursday, January 22nd. Two analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $105.00.

Pampa Energia Price Performance

NYSE:PAM opened at $82.44 on Thursday. Pampa Energia has a 52 week low of $54.95 and a 52 week high of $94.50. The firm’s 50-day simple moving average is $82.43 and its 200 day simple moving average is $78.14. The company has a quick ratio of 2.75, a current ratio of 3.11 and a debt-to-equity ratio of 0.51.

Pampa Energia (NYSE:PAM) last issued its quarterly earnings results on Monday, March 2nd. The utilities provider reported $3.00 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.65 by $2.35. The business had revenue of $96.00 million during the quarter, compared to analysts’ expectations of $737.30 billion. Pampa Energia had a return on equity of 10.75% and a net margin of 18.87%. On average, analysts forecast that Pampa Energia will post 9.33 EPS for the current fiscal year.

Hedge Funds Weigh In On Pampa Energia

Institutional investors and hedge funds have recently made changes to their positions in the stock. Millennium Management LLC raised its stake in Pampa Energia by 85.4% during the 1st quarter. Millennium Management LLC now owns 162,521 shares of the utilities provider’s stock worth $12,547,000 after buying an additional 74,841 shares during the period. Jane Street Group LLC lifted its position in shares of Pampa Energia by 44.1% during the first quarter. Jane Street Group LLC now owns 19,607 shares of the utilities provider’s stock valued at $1,514,000 after purchasing an additional 6,005 shares in the last quarter. Envestnet Asset Management Inc. boosted its stake in shares of Pampa Energia by 18.2% in the 2nd quarter. Envestnet Asset Management Inc. now owns 30,306 shares of the utilities provider’s stock worth $2,103,000 after buying an additional 4,659 shares during the last quarter. Itau Unibanco Holding S.A. boosted its position in Pampa Energia by 42.4% in the second quarter. Itau Unibanco Holding S.A. now owns 304,174 shares of the utilities provider’s stock worth $21,104,000 after purchasing an additional 90,500 shares during the last quarter. Finally, Personal CFO Solutions LLC boosted its holdings in shares of Pampa Energia by 6.8% in the 2nd quarter. Personal CFO Solutions LLC now owns 4,335 shares of the utilities provider’s stock worth $301,000 after buying an additional 276 shares during the last quarter. Institutional investors own 12.77% of the company’s stock.

Pampa Energia Company Profile

Pampa Energía SA is Argentina’s largest independent energy company, with integrated operations spanning electricity generation, transmission, distribution and oil and gas activities. The company holds a diversified portfolio of thermal and hydroelectric power plants, along with growing investments in renewable energy projects, serving both domestic and regional markets.

In its electricity business, Pampa Energía develops and operates plants that supply energy to Argentina’s power grid.