Pampa Energía (NYSE:PAM) Given New $59.00 Price Target at JPMorgan Chase & Co.

Pampa Energía (NYSE:PAM) had its price objective lifted by research analysts at JPMorgan Chase & Co. from $55.00 to $59.00 in a research note issued on Wednesday, Benzinga reports. The brokerage currently has a “neutral” rating on the utilities provider’s stock. JPMorgan Chase & Co.‘s target price would suggest a potential downside of 12.01% from the stock’s current price.

A number of other brokerages have also issued reports on PAM. Citigroup raised shares of Pampa Energía from a “neutral” rating to a “buy” rating and upped their price objective for the company from $51.00 to $58.00 in a report on Wednesday, July 3rd. Bank of America raised their price target on shares of Pampa Energía from $62.00 to $72.00 and gave the stock a “buy” rating in a report on Wednesday, September 11th. Finally, StockNews.com cut Pampa Energía from a “buy” rating to a “hold” rating in a report on Monday. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, Pampa Energía currently has an average rating of “Hold” and a consensus price target of $58.75.

Pampa Energía Price Performance

PAM traded up $0.65 during trading on Wednesday, reaching $67.05. The company’s stock had a trading volume of 38,740 shares, compared to its average volume of 258,906. The company has a market cap of $3.66 billion, a price-to-earnings ratio of 10.16 and a beta of 0.89. The firm has a fifty day simple moving average of $60.14 and a two-hundred day simple moving average of $51.12. Pampa Energía has a 1 year low of $32.91 and a 1 year high of $69.59. 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 (NYSE:PAM) last announced its quarterly earnings data on Wednesday, August 7th. The utilities provider reported $1.80 EPS for the quarter, topping analysts’ consensus estimates of $1.36 by $0.44. The firm had revenue of $500.00 million for the quarter, compared to the consensus estimate of $479.17 million. Pampa Energía had a return on equity of 12.59% and a net margin of 20.96%. As a group, analysts anticipate that Pampa Energía will post 8.91 EPS for the current year.

Hedge Funds Weigh In On Pampa Energía

Several hedge funds have recently bought and sold shares of the company. Cubist Systematic Strategies LLC purchased a new position in Pampa Energía in the 2nd quarter valued at approximately $950,000. Truist Financial Corp purchased a new position in Pampa Energía in the second quarter worth approximately $854,000. Claro Advisors LLC increased its position in shares of Pampa Energía by 253.9% in the 3rd quarter. Claro Advisors LLC now owns 18,172 shares of the utilities provider’s stock valued at $1,091,000 after purchasing an additional 13,037 shares during the last quarter. Glenorchy Capital Ltd grew its stake in shares of Pampa Energía by 35.5% during the third quarter. Glenorchy Capital Ltd now owns 75,223 shares of the utilities provider’s stock worth $4,516,000 after purchasing an additional 19,717 shares in the last quarter. Finally, Millennium Management LLC raised its stake in Pampa Energía by 428.0% in the second quarter. Millennium Management LLC now owns 628,522 shares of the utilities provider’s stock valued at $27,818,000 after buying an additional 509,487 shares in the last quarter. Institutional investors and hedge funds own 12.77% of the company’s stock.

Pampa Energía Company Profile

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.