Pampa Energia (NYSE:PAM) Announces Quarterly Earnings Results, Beats Estimates By $1.11 EPS

Pampa Energia (NYSE:PAM) posted its quarterly earnings results on Monday. The utilities provider reported $2.50 earnings per share for the quarter, beating analysts’ consensus estimates of $1.39 by $1.11, FiscalAI reports. Pampa Energia had a return on equity of 9.39% and a net margin of 16.72%.

Pampa Energia Trading Up 0.9%

Shares of PAM traded up $0.71 during trading hours on Monday, hitting $78.49. The company had a trading volume of 418,602 shares, compared to its average volume of 209,740. Pampa Energia has a 52-week low of $54.95 and a 52-week high of $94.50. The company has a quick ratio of 2.33, a current ratio of 2.68 and a debt-to-equity ratio of 0.43. The stock’s 50 day moving average price is $84.03 and its 200 day moving average price is $77.76.

Hedge Funds Weigh In On Pampa Energia

A number of large investors have recently bought and sold shares of PAM. Millennium Management LLC increased its position in shares of Pampa Energia by 85.4% in the first quarter. Millennium Management LLC now owns 162,521 shares of the utilities provider’s stock valued at $12,547,000 after acquiring an additional 74,841 shares during the period. Engineers Gate Manager LP increased its holdings in Pampa Energia by 89.5% during the 4th quarter. Engineers Gate Manager LP now owns 8,656 shares of the utilities provider’s stock valued at $766,000 after purchasing an additional 4,087 shares during the period. Federated Hermes Inc. purchased a new position in Pampa Energia during the 2nd quarter valued at about $578,000. Banco Santander S.A. raised its position in Pampa Energia by 76.1% during the 4th quarter. Banco Santander S.A. now owns 6,248 shares of the utilities provider’s stock valued at $553,000 after purchasing an additional 2,700 shares during the last quarter. Finally, Diversify Advisory Services LLC lifted its holdings in Pampa Energia by 23.3% in the 2nd quarter. Diversify Advisory Services LLC now owns 7,172 shares of the utilities provider’s stock worth $546,000 after buying an additional 1,353 shares during the period. 12.77% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

PAM has been the topic of several research reports. Zacks Research downgraded shares of Pampa Energia from a “hold” rating to a “strong sell” rating in a report on Wednesday, December 31st. Citigroup raised shares of Pampa Energia from a “neutral” rating to a “buy” rating and set a $113.00 price target on the stock in a report on Monday, November 3rd. Wall Street Zen upgraded Pampa Energia from a “sell” rating to a “hold” rating in a report on Saturday, November 8th. Finally, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Pampa Energia in a research report on Thursday, January 22nd. One investment analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $113.00.

About Pampa Energia

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.