Morgan Stanley started coverage on shares of Pampa Energia S.A. (NYSE:PAM) in a research note issued to investors on Tuesday morning, Marketbeat.com reports. The brokerage issued an equal weight rating and a $69.00 price objective on the utilities provider’s stock.

Several other brokerages have also recently issued reports on PAM. Bank of America Corporation restated a buy rating and issued a $75.00 target price (up previously from $65.00) on shares of Pampa Energia in a report on Saturday, June 3rd. TheStreet cut shares of Pampa Energia from a c rating to a d rating in a report on Wednesday, May 24th. Finally, BidaskClub cut shares of Pampa Energia from a strong-buy rating to a buy rating in a report on Wednesday, July 12th. Two research analysts have rated the stock with a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company’s stock. Pampa Energia currently has a consensus rating of Buy and an average target price of $70.67.

Shares of Pampa Energia (PAM) opened at 61.48 on Tuesday. Pampa Energia has a one year low of $30.07 and a one year high of $65.51. The company has a market cap of $4.52 billion, a PE ratio of 42.40 and a beta of 1.22. The firm’s 50-day moving average is $59.64 and its 200-day moving average is $57.50.

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Several institutional investors have recently modified their holdings of PAM. Capital World Investors boosted its stake in shares of Pampa Energia by 372.8% during the 2nd quarter. Capital World Investors now owns 4,426,113 shares of the utilities provider’s stock worth $260,477,000 after acquiring an additional 3,489,983 shares during the last quarter. Bank of America Corp DE boosted its stake in shares of Pampa Energia by 10,294.6% during the 1st quarter. Bank of America Corp DE now owns 1,202,028 shares of the utilities provider’s stock worth $65,175,000 after acquiring an additional 1,190,464 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in shares of Pampa Energia by 80.5% during the 1st quarter. JPMorgan Chase & Co. now owns 1,783,747 shares of the utilities provider’s stock worth $96,715,000 after acquiring an additional 795,743 shares during the last quarter. UBS Group AG boosted its stake in shares of Pampa Energia by 1,660.3% during the 1st quarter. UBS Group AG now owns 484,437 shares of the utilities provider’s stock worth $26,266,000 after acquiring an additional 456,917 shares during the last quarter. Finally, William Blair Investment Management LLC boosted its stake in shares of Pampa Energia by 140.7% during the 1st quarter. William Blair Investment Management LLC now owns 733,025 shares of the utilities provider’s stock worth $39,745,000 after acquiring an additional 428,429 shares during the last quarter. Institutional investors and hedge funds own 44.37% of the company’s stock.

Pampa Energia Company Profile

Pampa Energia SA is an integrated electricity company. The Company, through its subsidiaries, is engaged in the generation, transmission and distribution of electricity in Argentina. Its segments include generation, transmission, distribution, oil and gas, and holding and others. Its generation segment includes a direct and indirect equity interest in Central Piedra Buena SA, Central Termica Guemes SA, Central Termica Loma de la Lata SA and Pampa Comercializadora S.A, among others, and investments in companies in the electricity generation sector.

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