Pampa Energía (NYSE:PAM) Price Target Increased to $72.00 by Analysts at Bank of America

Pampa Energía (NYSE:PAM) had its price target raised by Bank of America from $62.00 to $72.00 in a report issued on Wednesday, Benzinga reports. The brokerage currently has a buy rating on the utilities provider’s stock.

A number of other equities research analysts also recently weighed in on the stock. StockNews.com upgraded shares of Pampa Energía from a hold rating to a buy rating in a research note on Monday, August 12th. HSBC upgraded Pampa Energía from a reduce rating to a hold rating and set a $46.00 price target for the company in a research note on Tuesday, May 21st. Citigroup upgraded Pampa Energía from a neutral rating to a buy rating and boosted their price objective for the stock from $51.00 to $58.00 in a research report on Wednesday, July 3rd. Finally, JPMorgan Chase & Co. upped their target price on Pampa Energía from $46.50 to $47.50 and gave the stock a neutral rating in a report on Tuesday, May 28th. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of Moderate Buy and a consensus price target of $55.88.

Pampa Energía Stock Performance

Shares of NYSE:PAM opened at $58.69 on Wednesday. The company’s 50 day simple moving average is $49.09 and its 200 day simple moving average is $46.13. The company has a debt-to-equity ratio of 0.44, a current ratio of 2.33 and a quick ratio of 2.01. Pampa Energía has a 1 year low of $32.91 and a 1 year high of $59.84. The stock has a market capitalization of $3.20 billion, a price-to-earnings ratio of 7.51 and a beta of 0.89.

Pampa Energía (NYSE:PAM) last posted its quarterly earnings results 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 company had revenue of $500.00 million during the quarter, compared to analysts’ expectations of $479.17 million. Pampa Energía had a return on equity of 12.59% and a net margin of 20.96%. As a group, research analysts predict that Pampa Energía will post 8.95 EPS for the current fiscal year.

Institutional Trading of Pampa Energía

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Truist Financial Corp acquired a new position in Pampa Energía during the 2nd quarter worth about $854,000. Driehaus Capital Management LLC raised its position in shares of Pampa Energía by 1.7% during the second quarter. Driehaus Capital Management LLC now owns 23,308 shares of the utilities provider’s stock worth $1,032,000 after acquiring an additional 398 shares during the last quarter. Millennium Management LLC lifted its stake in shares of Pampa Energía by 428.0% in the second 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 during the period. Cubist Systematic Strategies LLC bought a new stake in Pampa Energía in the second quarter valued at approximately $950,000. Finally, EverSource Wealth Advisors LLC increased its position in Pampa Energía by 89.7% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,239 shares of the utilities provider’s stock valued at $102,000 after purchasing an additional 1,059 shares during the period. 12.77% of the stock is currently owned by institutional investors and hedge funds.

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.