Millennium Management LLC Buys 509,487 Shares of Pampa Energía S.A. (NYSE:PAM)

Millennium Management LLC increased its position in Pampa Energía S.A. (NYSE:PAM) by 428.0% during the second quarter, HoldingsChannel.com reports. The firm owned 628,522 shares of the utilities provider’s stock after acquiring an additional 509,487 shares during the quarter. Millennium Management LLC’s holdings in Pampa Energía were worth $27,818,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the company. Claro Advisors LLC lifted its stake in shares of Pampa Energía by 6.0% in the first quarter. Claro Advisors LLC now owns 5,075 shares of the utilities provider’s stock worth $219,000 after buying an additional 286 shares in the last quarter. Ashton Thomas Private Wealth LLC bought a new position in Pampa Energía in the 2nd quarter valued at approximately $37,000. EverSource Wealth Advisors LLC boosted its stake 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 last quarter. Whittier Trust Co. of Nevada Inc. increased its holdings in shares of Pampa Energía by 144.1% in the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 1,975 shares of the utilities provider’s stock worth $87,000 after purchasing an additional 1,166 shares in the last quarter. Finally, Whittier Trust Co. raised its stake in shares of Pampa Energía by 10.4% in the second quarter. Whittier Trust Co. now owns 13,900 shares of the utilities provider’s stock worth $615,000 after purchasing an additional 1,312 shares during the last quarter. 12.77% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts recently commented on the company. Citigroup raised Pampa Energía from a “neutral” rating to a “buy” rating and increased their price objective for the company from $51.00 to $58.00 in a research report on Wednesday, July 3rd. StockNews.com raised shares of Pampa Energía from a “hold” rating to a “buy” rating in a report on Monday, August 12th. JPMorgan Chase & Co. boosted their price objective on shares of Pampa Energía from $47.00 to $55.00 and gave the company a “neutral” rating in a report on Wednesday, September 25th. Finally, Bank of America raised their target price 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. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $57.75.

Pampa Energía Trading Up 3.6 %

Pampa Energía stock opened at $62.16 on Friday. The business has a 50-day simple moving average of $53.49 and a two-hundred day simple moving average of $48.21. Pampa Energía S.A. has a 52-week low of $32.91 and a 52-week high of $62.66. The company has a quick ratio of 2.01, a current ratio of 2.33 and a debt-to-equity ratio of 0.44. The company has a market cap of $3.39 billion, a P/E ratio of 7.96 and a beta of 0.89.

Pampa Energía (NYSE:PAM) last announced its earnings results on Wednesday, August 7th. The utilities provider reported $1.80 EPS for the quarter, beating analysts’ consensus estimates of $1.36 by $0.44. Pampa Energía had a net margin of 20.96% and a return on equity of 12.59%. The business had revenue of $500.00 million during the quarter, compared to analysts’ expectations of $479.17 million. Analysts predict that Pampa Energía S.A. will post 9.54 EPS for the current year.

Pampa Energía 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.