GQG Partners LLC Sells 194,826 Shares of Pampa Energia S.A. (PAM)
GQG Partners LLC lowered its stake in shares of Pampa Energia S.A. (NYSE:PAM) by 33.8% in the second quarter, according to its most recent 13F filing with the SEC. The fund owned 380,745 shares of the utilities provider’s stock after selling 194,826 shares during the period. Pampa Energia comprises about 1.6% of GQG Partners LLC’s portfolio, making the stock its 25th largest holding. GQG Partners LLC owned 0.52% of Pampa Energia worth $22,407,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Creative Planning raised its stake in shares of Pampa Energia by 32.1% during the 2nd quarter. Creative Planning now owns 1,850 shares of the utilities provider’s stock valued at $109,000 after buying an additional 450 shares during the last quarter. Pacad Investment Ltd. purchased a new position in shares of Pampa Energia during the 2nd quarter valued at about $159,000. World Asset Management Inc purchased a new position in shares of Pampa Energia during the 2nd quarter valued at about $235,000. Tudor Investment Corp ET AL purchased a new position in shares of Pampa Energia during the 1st quarter valued at about $235,000. Finally, Boston Partners purchased a new position in shares of Pampa Energia during the 1st quarter valued at about $260,000. Institutional investors and hedge funds own 44.37% of the company’s stock.
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A number of research firms have weighed in on PAM. Bank of America Corporation reiterated a “buy” rating and set a $75.00 price objective (up previously from $65.00) on shares of Pampa Energia in a research note on Saturday, June 3rd. Morgan Stanley began coverage on Pampa Energia in a research note on Tuesday. They issued an “equal weight” rating and a $69.00 price target for the company. Finally, BidaskClub lowered Pampa Energia from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, July 12th. Two equities research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $70.67.
Shares of Pampa Energia S.A. (NYSE PAM) traded up 0.93% during trading on Friday, hitting $62.05. The company had a trading volume of 89,423 shares. The firm has a market capitalization of $4.56 billion, a P/E ratio of 42.79 and a beta of 1.22. Pampa Energia S.A. has a 52-week low of $30.07 and a 52-week high of $65.51. The stock’s 50-day moving average is $59.64 and its 200 day moving average is $57.50.
About Pampa Energia
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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