Pampa Energía (NYSE:PAM) Downgraded to Neutral Rating by Citigroup

Citigroup cut shares of Pampa Energía (NYSE:PAM) from a buy rating to a neutral rating in a research note published on Friday morning, MarketBeat reports. Citigroup currently has $75.00 price objective on the utilities provider’s stock, up from their previous price objective of $58.00.

Other research analysts also recently issued research reports about the company. StockNews.com downgraded Pampa Energía from a “buy” rating to a “hold” rating in a research note on Monday, October 28th. JPMorgan Chase & Co. increased their target price on shares of Pampa Energía from $55.00 to $59.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. Finally, Bank of America upped their price objective on Pampa Energía from $62.00 to $72.00 and gave the company a “buy” rating in a research note on Wednesday, September 11th. Four analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $63.00.

Pampa Energía Stock Down 0.5 %

Shares of NYSE:PAM opened at $65.72 on Friday. Pampa Energía has a fifty-two week low of $32.91 and a fifty-two week high of $69.59. The firm’s 50 day moving average price is $61.07 and its 200 day moving average price is $51.63. 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 stock has a market cap of $3.58 billion, a price-to-earnings ratio of 9.96 and a beta of 0.88.

Pampa Energía (NYSE:PAM) last announced its quarterly earnings results on Wednesday, August 7th. The utilities provider reported $1.80 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.36 by $0.44. Pampa Energía had a return on equity of 12.59% and a net margin of 20.96%. The company had revenue of $500.00 million during the quarter, compared to the consensus estimate of $479.17 million. As a group, equities research analysts predict that Pampa Energía will post 8.65 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Pampa Energía

A number of large investors have recently made changes to their positions in PAM. Helikon Investments Ltd lifted its position in shares of Pampa Energía by 146.6% during the 3rd quarter. Helikon Investments Ltd now owns 1,319,415 shares of the utilities provider’s stock valued at $79,218,000 after acquiring an additional 784,407 shares during the period. Diversify Wealth Management LLC raised its holdings in Pampa Energía by 3.9% during the third quarter. Diversify Wealth Management LLC now owns 15,110 shares of the utilities provider’s stock worth $1,006,000 after purchasing an additional 573 shares during the last quarter. Whittier Trust Co. of Nevada Inc. boosted its position in Pampa Energía by 26.6% during the third quarter. Whittier Trust Co. of Nevada Inc. now owns 2,501 shares of the utilities provider’s stock worth $150,000 after purchasing an additional 526 shares in the last quarter. Whittier Trust Co. grew its holdings in Pampa Energía by 8.4% in the third quarter. Whittier Trust Co. now owns 15,062 shares of the utilities provider’s stock valued at $904,000 after purchasing an additional 1,162 shares during the last quarter. Finally, Glenorchy Capital Ltd increased its position in shares of Pampa Energía by 35.5% in the third quarter. Glenorchy Capital Ltd now owns 75,223 shares of the utilities provider’s stock valued at $4,516,000 after buying an additional 19,717 shares in the last quarter. Hedge funds and other institutional investors own 12.77% of the company’s stock.

About Pampa Energía

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.