JPMorgan Chase & Co. Sells 89,959 Shares of Pampa Energia S.A. $PAM

JPMorgan Chase & Co. cut its stake in Pampa Energia S.A. (NYSE:PAM) by 28.3% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 228,039 shares of the utilities provider’s stock after selling 89,959 shares during the period. JPMorgan Chase & Co. owned about 0.42% of Pampa Energia worth $13,696,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in the stock. Raymond James Financial Inc. purchased a new stake in Pampa Energia in the 2nd quarter valued at about $37,000. First Horizon Advisors Inc. bought a new stake in shares of Pampa Energia during the second quarter valued at approximately $51,000. Deltec Asset Management LLC boosted its holdings in shares of Pampa Energia by 66.7% in the third quarter. Deltec Asset Management LLC now owns 5,000 shares of the utilities provider’s stock valued at $300,000 after purchasing an additional 2,000 shares during the period. Personal CFO Solutions LLC grew its stake in Pampa Energia by 6.8% in the second quarter. Personal CFO Solutions LLC now owns 4,335 shares of the utilities provider’s stock worth $301,000 after purchasing an additional 276 shares in the last quarter. Finally, Qube Research & Technologies Ltd purchased a new position in Pampa Energia during the 2nd quarter worth $379,000. Hedge funds and other institutional investors own 12.77% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. Zacks Research cut Pampa Energia from a “hold” rating to a “strong sell” rating in a report on Wednesday, December 31st. Wall Street Zen raised shares of Pampa Energia from a “sell” rating to a “hold” rating in a research note on Saturday, November 8th. Finally, Weiss Ratings reiterated a “hold (c-)” rating on shares of Pampa Energia in a report on Thursday, January 22nd. One equities research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Pampa Energia currently has a consensus rating of “Hold” and a consensus target price of $113.00.

Pampa Energia Price Performance

Shares of NYSE PAM opened at $77.27 on Thursday. Pampa Energia S.A. has a 1-year low of $54.95 and a 1-year high of $94.50. The business has a fifty day moving average price of $83.32 and a 200 day moving average price of $77.79. The company has a debt-to-equity ratio of 0.51, a quick ratio of 2.33 and a current ratio of 3.11.

Pampa Energia (NYSE:PAM) last announced its earnings results on Monday, March 2nd. The utilities provider reported $3.00 EPS for the quarter, topping analysts’ consensus estimates of $0.65 by $2.35. The business had revenue of $507.00 million during the quarter, compared to the consensus estimate of $737.30 billion. Pampa Energia had a net margin of 18.87% and a return on equity of 10.75%. Research analysts anticipate that Pampa Energia S.A. will post 9.33 earnings per share for the current fiscal year.

About Pampa Energia

Pampa Energía SA is Argentina’s largest independent energy company, with integrated operations spanning electricity generation, transmission, distribution and oil and gas activities. The company holds a diversified portfolio of thermal and hydroelectric power plants, along with growing investments in renewable energy projects, serving both domestic and regional markets.

In its electricity business, Pampa Energía develops and operates plants that supply energy to Argentina’s power grid.