JPMorgan Chase & Co. Raises Pampa Energía (NYSE:PAM) Price Target to $55.00

Pampa Energía (NYSE:PAM) had its price target raised by JPMorgan Chase & Co. from $47.00 to $55.00 in a report published on Wednesday morning, Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the utilities provider’s stock.

A number of other brokerages have also issued reports on PAM. Citigroup raised Pampa Energía from a neutral rating to a buy rating and increased their price target for the company from $51.00 to $58.00 in a research note on Wednesday, July 3rd. StockNews.com raised Pampa Energía from a hold rating to a buy rating in a research note on Monday, August 12th. Finally, Bank of America boosted their price target on shares of Pampa Energía from $62.00 to $72.00 and gave the stock a buy rating in a research report on Wednesday, September 11th. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, Pampa Energía has an average rating of Moderate Buy and a consensus target price of $57.75.

Pampa Energía Stock Performance

PAM stock opened at $58.62 on Wednesday. The company has a 50-day simple moving average of $52.70 and a 200 day simple moving average of $47.71. The company has a market capitalization of $3.20 billion, a P/E ratio of 7.51 and a beta of 0.89. The company has a quick ratio of 2.01, a current ratio of 2.33 and a debt-to-equity ratio of 0.44. Pampa Energía has a fifty-two week low of $32.91 and a fifty-two week high of $62.66.

Pampa Energía (NYSE:PAM) last issued its quarterly earnings results on Wednesday, August 7th. The utilities provider reported $1.80 earnings per share for the quarter, topping analysts’ consensus estimates of $1.36 by $0.44. The company had revenue of $500.00 million during the quarter, compared to analyst estimates of $479.17 million. Pampa Energía had a net margin of 20.96% and a return on equity of 12.59%. Sell-side analysts predict that Pampa Energía will post 9.54 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Pampa Energía

A number of institutional investors and hedge funds have recently modified their holdings of PAM. Helikon Investments Ltd raised its position in shares of Pampa Energía by 20.2% during the first quarter. Helikon Investments Ltd now owns 748,085 shares of the utilities provider’s stock worth $32,272,000 after purchasing an additional 125,519 shares during the period. Claro Advisors LLC increased its stake in Pampa Energía by 6.0% in the 1st quarter. Claro Advisors LLC now owns 5,075 shares of the utilities provider’s stock worth $219,000 after purchasing an additional 286 shares in the last quarter. Banco BTG Pactual S.A. raised its holdings in 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 buying an additional 34,181 shares during the period. Headlands Technologies LLC acquired a new stake in Pampa Energía during the 1st quarter worth about $69,000. Finally, EverSource Wealth Advisors LLC purchased a new stake in Pampa Energía during the first quarter valued at about $52,000. 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.