Pampa Energía (NYSE:PAM) Upgraded to “Strong-Buy” by Zacks Investment Research

Zacks Investment Research upgraded shares of Pampa Energía (NYSE:PAM) from a hold rating to a strong-buy rating in a research report report published on Wednesday morning, Zacks.com reports. Zacks Investment Research currently has $23.00 price target on the utilities provider’s stock.

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. “

PAM opened at $19.61 on Wednesday. Pampa Energía has a fifty-two week low of $10.94 and a fifty-two 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. The company has a market capitalization of $1.09 billion, a P/E ratio of -4.14, a P/E/G ratio of 0.10 and a beta of 0.59. The stock has a fifty day moving average of $17.13 and a 200-day moving average of $15.93.

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

A number of hedge funds have recently bought and sold shares of the stock. Goldman Sachs Group Inc. raised its stake in Pampa Energía by 10.8% in the second quarter. Goldman Sachs Group Inc. now owns 13,552 shares of the utilities provider’s stock valued at $206,000 after purchasing an additional 1,317 shares in the last quarter. Bank of America Corp DE raised its stake in 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 purchasing an additional 1,848 shares in the last quarter. Parametric Portfolio Associates LLC raised its stake in Pampa Energía by 11.2% in the second quarter. Parametric Portfolio Associates LLC now owns 30,863 shares of the utilities provider’s stock valued at $468,000 after purchasing an additional 3,110 shares in the last quarter. Geode Capital Management LLC raised its stake in Pampa Energía by 32.2% in the second quarter. Geode Capital Management LLC now owns 14,899 shares of the utilities provider’s stock valued at $226,000 after purchasing an additional 3,632 shares in the last quarter. Finally, UBS Group AG raised its stake in 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 purchasing an additional 6,022 shares in the last quarter. 13.66% of the stock is owned by institutional investors and hedge funds.

Pampa Energía Company Profile

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.

See Also: Blue-Chip Stocks

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

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

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