Pampa Energía (NYSE:PAM) Reaches New 12-Month High – What’s Next?

Pampa Energía S.A. (NYSE:PAM) reached a new 52-week high on Tuesday . The stock traded as high as $69.00 and last traded at $68.58, with a volume of 36059 shares trading hands. The stock had previously closed at $67.66.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on PAM. StockNews.com upgraded Pampa Energía from a “hold” rating to a “buy” rating in a research note on Monday, August 12th. Citigroup upgraded Pampa Energía from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $51.00 to $58.00 in a research report on Wednesday, July 3rd. JPMorgan Chase & Co. upped their target price on Pampa Energía from $47.00 to $55.00 and gave the company a “neutral” rating in a research note on Wednesday, September 25th. Finally, Bank of America lifted their price target on shares of Pampa Energía from $62.00 to $72.00 and gave the stock a “buy” rating in a research note on Wednesday, September 11th. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $57.75.

Pampa Energía Stock Performance

The company has a debt-to-equity ratio of 0.44, a quick ratio of 2.01 and a current ratio of 2.33. The firm has a 50 day moving average price of $58.96 and a two-hundred day moving average price of $50.47. The company has a market capitalization of $3.63 billion, a P/E ratio of 8.52 and a beta of 0.89.

Pampa Energía (NYSE:PAM) last announced its quarterly earnings results on Wednesday, August 7th. The utilities provider reported $1.80 EPS for the quarter, beating the consensus estimate of $1.36 by $0.44. Pampa Energía had a return on equity of 12.59% and a net margin of 20.96%. The business had revenue of $500.00 million for the quarter, compared to analyst estimates of $479.17 million. On average, research analysts expect that Pampa Energía S.A. will post 8.91 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Pampa Energía

Hedge funds have recently made changes to their positions in the company. Helikon Investments Ltd boosted its position in Pampa Energía by 20.2% in the first quarter. Helikon Investments Ltd now owns 748,085 shares of the utilities provider’s stock valued at $32,272,000 after buying an additional 125,519 shares in the last quarter. Cubist Systematic Strategies LLC bought a new position in shares of Pampa Energía in the second quarter valued at approximately $950,000. Truist Financial Corp bought a new position in shares of Pampa Energía in the second quarter valued at approximately $854,000. Millennium Management LLC boosted its holdings in shares of Pampa Energía by 428.0% in the 2nd quarter. Millennium Management LLC now owns 628,522 shares of the utilities provider’s stock worth $27,818,000 after acquiring an additional 509,487 shares in the last quarter. Finally, Claro Advisors LLC grew its position in Pampa Energía by 253.9% during the 3rd quarter. Claro Advisors LLC now owns 18,172 shares of the utilities provider’s stock worth $1,091,000 after acquiring an additional 13,037 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.