Pampa Energia (NYSE:PAM) Shares Gap Down to $15.65

Pampa Energia S.A. (NYSE:PAM) shares gapped down prior to trading on Friday . The stock had previously closed at $16.36, but opened at $15.65. Pampa Energia shares last traded at $14.03, with a volume of 2,096,969 shares trading hands.

PAM has been the topic of a number of research analyst reports. ValuEngine upgraded shares of Pampa Energia from a “strong sell” rating to a “sell” rating in a research note on Wednesday, October 2nd. HSBC cut shares of Pampa Energia from a “buy” rating to a “hold” rating in a research note on Tuesday, October 22nd. Bank of America lowered shares of Pampa Energia from a “buy” rating to a “neutral” rating and lowered their price target for the company from $52.50 to $33.00 in a research report on Tuesday, August 13th. Citigroup raised shares of Pampa Energia from a “neutral” rating to a “buy” rating and lowered their price target for the company from $40.30 to $24.30 in a research report on Thursday, October 3rd. Finally, Morgan Stanley lowered shares of Pampa Energia from an “overweight” rating to an “equal weight” rating in a research report on Monday, August 12th. One analyst has rated the stock with a sell rating, three have issued a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. Pampa Energia currently has a consensus rating of “Buy” and an average price target of $32.08.

The firm’s 50-day moving average price is $16.27 and its 200-day moving average price is $23.30. The company has a quick ratio of 1.09, a current ratio of 1.24 and a debt-to-equity ratio of 0.66. The company has a market cap of $1.15 billion, a P/E ratio of -9.17, a price-to-earnings-growth ratio of 0.19 and a beta of 0.98.

Pampa Energia (NYSE:PAM) last posted its quarterly earnings results on Monday, August 12th. The utilities provider reported $2.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.82 by $1.25. Pampa Energia had a net margin of 16.83% and a return on equity of 16.83%. The company had revenue of $808.00 million for the quarter. As a group, analysts forecast that Pampa Energia S.A. will post 4.13 earnings per share for the current year.

Several hedge funds and other institutional investors have recently bought and sold shares of PAM. BlackRock Inc. raised its position in shares of Pampa Energia by 197.0% in the second quarter. BlackRock Inc. now owns 3,615,187 shares of the utilities provider’s stock valued at $125,339,000 after purchasing an additional 2,397,908 shares during the period. Vanguard Group Inc. bought a new stake in Pampa Energia during the 2nd quarter worth approximately $10,492,000. Northern Trust Corp increased its holdings in Pampa Energia by 299.4% during the 2nd quarter. Northern Trust Corp now owns 379,550 shares of the utilities provider’s stock worth $13,159,000 after acquiring an additional 284,521 shares during the period. Sumitomo Mitsui Trust Holdings Inc. bought a new stake in Pampa Energia during the 2nd quarter worth approximately $6,977,000. Finally, Bank of America Corp DE increased its holdings in Pampa Energia by 896.7% during the 2nd quarter. Bank of America Corp DE now owns 190,937 shares of the utilities provider’s stock worth $6,620,000 after acquiring an additional 171,780 shares during the period. 43.41% of the stock is currently owned by institutional investors.

About Pampa Energia (NYSE:PAM)

Pampa Energía SA, an integrated electricity company, through its subsidiaries, engages in the generation, transmission, and distribution of electricity in Argentina. The company generates electricity through combined cycle gas-fired generating units, thermal generation plants, open-cycle gas turbines, and hydroelectric power generation systems, as well as through a wind farm.

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