Pampa Energia (NYSE:PAM) Upgraded at HSBC

HSBC upgraded shares of Pampa Energia (NYSE:PAM) from a hold rating to a buy rating in a research report report published on Thursday morning, Marketbeat.com reports. HSBC currently has $97.00 price target on the utilities provider’s stock, up from their prior price target of $88.00.

Several other equities analysts also recently commented on the company. Weiss Ratings reiterated a “hold (c-)” rating on shares of Pampa Energia in a report on Thursday, January 22nd. Zacks Research cut shares of Pampa Energia from a “hold” rating to a “strong sell” rating in a research note on Wednesday, December 31st. Two equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $105.00.

Pampa Energia Trading Down 1.6%

PAM opened at $80.96 on Thursday. The stock has a 50-day moving average of $82.29 and a 200-day moving average of $78.32. Pampa Energia has a 52-week low of $54.95 and a 52-week high of $94.50. The company has a current ratio of 3.11, a quick ratio of 2.75 and a debt-to-equity ratio of 0.51.

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

Institutional Trading of Pampa Energia

Several hedge funds have recently added to or reduced their stakes in the business. Millennium Management LLC grew its holdings in Pampa Energia by 85.4% in the 1st quarter. Millennium Management LLC now owns 162,521 shares of the utilities provider’s stock valued at $12,547,000 after buying an additional 74,841 shares during the last quarter. Jane Street Group LLC lifted its holdings 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 worth $1,514,000 after buying an additional 6,005 shares during the last quarter. Envestnet Asset Management Inc. lifted its holdings in shares of Pampa Energia by 18.2% during the second 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 shares of 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 valued at $21,104,000 after acquiring an additional 90,500 shares during the period. Finally, Personal CFO Solutions LLC grew its stake in shares of Pampa Energia by 6.8% in the second quarter. Personal CFO Solutions LLC now owns 4,335 shares of the utilities provider’s stock worth $301,000 after acquiring an additional 276 shares during the last quarter. Institutional investors own 12.77% of the company’s stock.

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.