Pampa Energía (NYSE:PAM) Hits New 52-Week High – Still a Buy?

Shares of Pampa Energía S.A. (NYSE:PAM) reached a new 52-week high on Tuesday . The company traded as high as $71.43 and last traded at $70.75, with a volume of 179588 shares changing hands. The stock had previously closed at $71.07.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on PAM. Citigroup lowered shares of Pampa Energía from a “buy” rating to a “neutral” rating and upped their price target for the company from $58.00 to $75.00 in a research report on Friday, November 1st. StockNews.com upgraded shares of Pampa Energía from a “hold” rating to a “buy” rating in a research note on Thursday. JPMorgan Chase & Co. upped their price objective on Pampa Energía from $55.00 to $59.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. Finally, Bank of America lifted their target price on Pampa Energía from $62.00 to $72.00 and gave the company a “buy” rating in a research report on Wednesday, September 11th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $63.00.

Pampa Energía Price Performance

The company has a debt-to-equity ratio of 0.44, a quick ratio of 2.11 and a current ratio of 2.39. The firm’s fifty day moving average is $64.08 and its two-hundred day moving average is $53.19. The company has a market cap of $4.14 billion, a P/E ratio of 11.67 and a beta of 0.88.

Pampa Energía (NYSE:PAM) last posted its earnings results on Wednesday, November 6th. The utilities provider reported $2.70 earnings per share for the quarter, beating the consensus estimate of $1.75 by $0.95. Pampa Energía had a net margin of 19.86% and a return on equity of 12.38%. The company had revenue of $540.00 million during the quarter, compared to analysts’ expectations of $517.71 million. During the same period last year, the company posted $2.80 earnings per share. As a group, analysts anticipate that Pampa Energía S.A. will post 8.65 earnings per share for the current fiscal year.

Institutional Trading of Pampa Energía

Several hedge funds have recently modified their holdings of PAM. Cubist Systematic Strategies LLC purchased a new position in shares of Pampa Energía in the 2nd quarter worth approximately $950,000. Truist Financial Corp purchased a new stake in Pampa Energía in the second quarter worth about $854,000. Claro Advisors LLC lifted its holdings in Pampa Energía by 253.9% during the third quarter. Claro Advisors LLC now owns 18,172 shares of the utilities provider’s stock worth $1,091,000 after buying an additional 13,037 shares during the period. Glenorchy Capital Ltd boosted its position in Pampa Energía by 35.5% during the third quarter. Glenorchy Capital Ltd now owns 75,223 shares of the utilities provider’s stock valued at $4,516,000 after purchasing an additional 19,717 shares in the last quarter. Finally, Millennium Management LLC lifted its holdings in shares of Pampa Energía by 428.0% during the 2nd quarter. Millennium Management LLC now owns 628,522 shares of the utilities provider’s stock valued at $27,818,000 after purchasing an additional 509,487 shares during the last quarter. 12.77% of the stock is owned by hedge funds and other institutional investors.

Pampa Energía Company Profile

Pampa Energía SA operates as an integrated power company in Argentina. The company operates through Electricity Generation, Oil and Gas, Petrochemicals, and Holding and Other Business segments. It generates electricity through thermal plants, hydroelectric plants, and wind farms with a 5,332 megawatt (MW) installed capacity.