Pampa Energia (NYSE:PAM) Issues Quarterly Earnings Results

Pampa Energia (NYSE:PAM) issued its earnings results on Tuesday. The utilities provider reported $3.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.47 by $0.74, Zacks reports. The company had revenue of $746.00 million for the quarter, compared to analysts’ expectations of $743.17 million. Pampa Energia had a net margin of 23.58% and a return on equity of 15.78%.

Pampa Energia Stock Up 1.2%

Pampa Energia stock traded up $1.00 during trading hours on Thursday, reaching $84.83. The stock had a trading volume of 25,940 shares, compared to its average volume of 221,509. The company has a market cap of $4.56 billion, a price-to-earnings ratio of 8.13, a PEG ratio of 2.22 and a beta of 0.97. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.04 and a quick ratio of 1.78. The business’s 50 day moving average price is $84.30 and its 200-day moving average price is $83.39. Pampa Energia has a 52 week low of $54.95 and a 52 week high of $94.50.

Insider Transactions at Pampa Energia

In other news, Director Marcos Marcelo Mindlin sold 1,500,000 shares of the firm’s stock in a transaction dated Wednesday, July 8th. The shares were sold at an average price of $3.54, for a total value of $5,310,000.00. Following the sale, the director directly owned 20,055,667 shares in the company, valued at approximately $70,997,061.18. This trade represents a 6.96% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Damian Miguel Mindlin sold 555,000 shares of Pampa Energia stock in a transaction that occurred on Wednesday, June 3rd. The stock was sold at an average price of $3.55, for a total transaction of $1,970,250.00. Following the completion of the transaction, the insider directly owned 12,541,870 shares in the company, valued at approximately $44,523,638.50. The trade was a 4.24% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders bought 1,685,694 shares of company stock worth $5,666,005 and sold 7,157,000 shares worth $24,696,070. 55.52% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Pampa Energia

Several institutional investors and hedge funds have recently bought and sold shares of the company. Raymond James Financial Inc. acquired a new position in shares of Pampa Energia during the second quarter worth $37,000. Van ECK Associates Corp acquired a new stake in shares of Pampa Energia in the 3rd quarter worth $139,000. Arete Wealth Advisors LLC purchased a new position in Pampa Energia during the 4th quarter worth $212,000. Schonfeld Strategic Advisors LLC purchased a new position in Pampa Energia during the 4th quarter worth $413,000. Finally, State of Wisconsin Investment Board acquired a new position in Pampa Energia during the 4th quarter valued at about $425,000. 12.77% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the stock. Zacks Research cut shares of Pampa Energia from a “strong-buy” rating to a “hold” rating in a research report on Monday, July 27th. JPMorgan Chase & Co. lifted their price objective on shares of Pampa Energia from $97.50 to $101.50 and gave the company a “neutral” rating in a report on Monday, June 1st. Wall Street Zen downgraded shares of Pampa Energia from a “strong-buy” rating to a “buy” rating in a research note on Saturday, June 20th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Pampa Energia in a report on Friday, June 12th. Two research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $103.83.

Pampa Energia Company Profile

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.