Pampa Energia (NYSE:PAM) Rating Increased to Strong-Buy at Zacks Investment Research

Pampa Energia (NYSE:PAM) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a research report issued to clients and investors on Tuesday, Zacks.com reports. The firm presently has a $19.00 price objective on the utilities provider’s stock. Zacks Investment Research‘s target price points to a potential upside of 6.38% from the stock’s previous close.

According to Zacks, “Pampa Energía S.A. is the largest fully integrated electricity company in Argentina. Through its subsidiaries, the Company is engaged in the generation, transmission and distribution of electricity in Argentina. “

Several other equities research analysts have also recently weighed in on the company. TheStreet upgraded Pampa Energia from a “d+” rating to a “c” rating in a research note on Wednesday, June 26th. Morgan Stanley cut Pampa Energia from an “overweight” rating to an “equal weight” rating in a research note on Monday, August 12th. Citigroup cut Pampa Energia from a “buy” rating to a “neutral” rating in a research note on Monday, July 1st. Bank of America cut Pampa Energia from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $52.50 to $33.00 in a research note on Tuesday, August 13th. Finally, ValuEngine cut Pampa Energia from a “sell” rating to a “strong sell” rating in a research note on Thursday, August 1st. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $32.08.

PAM stock traded up $0.32 during trading on Tuesday, hitting $17.86. 348,859 shares of the company’s stock were exchanged, compared to its average volume of 729,372. The business has a 50-day moving average price of $15.58 and a two-hundred day moving average price of $25.26. The stock has a market capitalization of $1.32 billion, a price-to-earnings ratio of -11.67, a PEG ratio of 0.19 and a beta of 1.00. Pampa Energia has a 52-week low of $12.01 and a 52-week high of $39.89. The company has a current ratio of 1.24, a quick ratio of 1.09 and a debt-to-equity ratio of 0.66.

Pampa Energia (NYSE:PAM) last posted its earnings results on Monday, August 12th. The utilities provider reported $2.07 earnings per share for the quarter, topping the consensus estimate of $0.82 by $1.25. The firm had revenue of $808.00 million during the quarter. Pampa Energia had a return on equity of 16.83% and a net margin of 16.83%. On average, equities research analysts anticipate that Pampa Energia will post 4.43 earnings per share for the current fiscal year.

A number of hedge funds and other institutional investors have recently modified their holdings of PAM. Sumitomo Mitsui Trust Holdings Inc. purchased a new position in shares of Pampa Energia in the 2nd quarter valued at approximately $6,977,000. Gulf International Bank UK Ltd acquired a new stake in Pampa Energia in the 2nd quarter valued at $346,000. Pictet Asset Management Ltd. acquired a new stake in Pampa Energia in the 2nd quarter valued at $105,000. Provida Pension Fund Administrator acquired a new stake in Pampa Energia in the 2nd quarter valued at $1,874,000. Finally, Oaktree Capital Management LP grew its stake in Pampa Energia by 19.6% in the 2nd quarter. Oaktree Capital Management LP now owns 528,000 shares of the utilities provider’s stock valued at $18,306,000 after acquiring an additional 86,500 shares during the period. Institutional investors own 39.77% of the company’s stock.

About Pampa Energia

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.

Read More: How prevalent are 12b-1 fees?

Get a free copy of the Zacks research report on Pampa Energia (PAM)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for Pampa Energia (NYSE:PAM)

Receive News & Ratings for Pampa Energia Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Pampa Energia and related companies with MarketBeat.com's FREE daily email newsletter.