Pampa Energía (NYSE:PAM) Rating Lowered to Hold at Zacks Investment Research

Pampa Energía (NYSE:PAM) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a research note issued on Thursday, Zacks.com reports.

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. “

Shares of Pampa Energía stock opened at $19.61 on Thursday. The firm has a 50-day moving average of $17.13 and a 200-day moving average of $15.93. The stock has a market cap of $1.09 billion, a PE ratio of -4.14, a PEG ratio of 0.10 and a beta of 0.59. Pampa Energía has a 52-week low of $10.94 and a 52-week high of $20.34. The company has a debt-to-equity ratio of 0.87, a quick ratio of 2.61 and a current ratio of 3.05.

Pampa Energía (NYSE:PAM) last posted its quarterly earnings data on Wednesday, August 11th. The utilities provider reported $1.94 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.77 by $1.17. The business had revenue of $346.00 million during the quarter, compared to analysts’ expectations of $303.54 million. Pampa Energía had a negative net margin of 17.94% and a positive return on equity of 12.67%. Equities research analysts predict that Pampa Energía will post 3.69 earnings per share for the current fiscal year.

Hedge funds and other institutional investors have recently modified their holdings of the business. Goldman Sachs Group Inc. acquired a new position in Pampa Energía during the first quarter worth about $182,000. UBS Group AG increased its stake in shares of Pampa Energía by 1,090.9% in the first quarter. UBS Group AG now owns 6,574 shares of the utilities provider’s stock valued at $97,000 after buying an additional 6,022 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Pampa Energía by 12.7% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 122,446 shares of the utilities provider’s stock valued at $1,817,000 after buying an additional 13,779 shares during the period. Morgan Stanley increased its stake in shares of Pampa Energía by 532.3% in the second quarter. Morgan Stanley now owns 76,163 shares of the utilities provider’s stock valued at $1,156,000 after buying an additional 64,118 shares during the period. Finally, Bank of America Corp DE increased its stake in shares of Pampa Energía by 283.4% in the second quarter. Bank of America Corp DE now owns 2,500 shares of the utilities provider’s stock valued at $38,000 after buying an additional 1,848 shares during the period. 13.66% of the stock is owned by hedge funds and other institutional investors.

About Pampa Energía

Pampa Energía SA engages in the generation, transmission, and distribution of electricity. It operates through the following segments: Electricity Generation, Distribution of Energy, Oil and Gas, Petrochemicals, and Holding and Others. The Electricity Generation segment includes electricity generation activities through the operation of hydro and thermal power plants as well as wind farms.

Further Reading: Do equity income investments outperform growth and income investments?

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