Verition Fund Management LLC Takes Position in Pampa Energía S.A. (NYSE:PAM)

Verition Fund Management LLC bought a new position in shares of Pampa Energía S.A. (NYSE:PAM) during the 3rd quarter, HoldingsChannel reports. The firm bought 9,945 shares of the utilities provider’s stock, valued at approximately $597,000.

Other hedge funds also recently added to or reduced their stakes in the company. Blue Trust Inc. boosted its holdings in Pampa Energía by 158.1% in the third quarter. Blue Trust Inc. now owns 413 shares of the utilities provider’s stock worth $25,000 after acquiring an additional 253 shares in the last quarter. Ashton Thomas Private Wealth LLC acquired a new stake in Pampa Energía in the 2nd quarter worth approximately $37,000. GAMMA Investing LLC grew its position in Pampa Energía by 32.7% during the 3rd quarter. GAMMA Investing LLC now owns 1,401 shares of the utilities provider’s stock worth $84,000 after purchasing an additional 345 shares during the last quarter. Whittier Trust Co. of Nevada Inc. increased its stake in Pampa Energía by 144.1% during the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 1,975 shares of the utilities provider’s stock valued at $87,000 after purchasing an additional 1,166 shares in the last quarter. Finally, EverSource Wealth Advisors LLC raised its holdings in shares of Pampa Energía by 89.7% in the second quarter. EverSource Wealth Advisors LLC now owns 2,239 shares of the utilities provider’s stock worth $102,000 after buying an additional 1,059 shares during the last quarter. 12.77% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

PAM has been the topic of a number of research analyst reports. Citigroup lowered shares of Pampa Energía from a “buy” rating to a “neutral” rating and boosted their price objective for the company from $58.00 to $75.00 in a report on Friday, November 1st. Bank of America boosted their price target on Pampa Energía from $62.00 to $72.00 and gave the company a “buy” rating in a research note on Wednesday, September 11th. JPMorgan Chase & Co. raised their price objective on Pampa Energía from $55.00 to $59.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. Finally, StockNews.com raised Pampa Energía from a “hold” rating to a “buy” rating in a report on Thursday, November 14th. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, Pampa Energía presently has an average rating of “Hold” and a consensus target price of $63.00.

Pampa Energía Price Performance

NYSE:PAM opened at $86.73 on Wednesday. The firm’s fifty day moving average is $73.03 and its two-hundred day moving average is $57.95. The firm has a market cap of $4.73 billion, a price-to-earnings ratio of 13.34 and a beta of 0.96. The company has a debt-to-equity ratio of 0.44, a quick ratio of 2.13 and a current ratio of 2.41. Pampa Energía S.A. has a one year low of $38.15 and a one year high of $90.40.

Pampa Energía (NYSE:PAM) last issued its earnings results on Wednesday, November 6th. The utilities provider reported $2.70 EPS for the quarter, topping analysts’ consensus estimates of $1.75 by $0.95. The firm had revenue of $540.00 million for the quarter, compared to the consensus estimate of $517.71 million. Pampa Energía had a return on equity of 12.15% and a net margin of 19.86%. During the same quarter in the prior year, the business earned $2.80 earnings per share. Research analysts expect that Pampa Energía S.A. will post 8.65 EPS for the current year.

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.