Ping Capital Management Inc. Invests $2.47 Million in Pampa Energía S.A. (NYSE:PAM)

Ping Capital Management Inc. bought a new position in Pampa Energía S.A. (NYSE:PAM) during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 55,800 shares of the utilities provider’s stock, valued at approximately $2,470,000. Pampa Energía comprises 0.8% of Ping Capital Management Inc.’s holdings, making the stock its 12th largest holding.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. SPX Gestao de Recursos Ltda purchased a new position in Pampa Energía in the fourth quarter valued at approximately $44,000. EverSource Wealth Advisors LLC purchased a new position in Pampa Energía in the first quarter valued at approximately $52,000. Headlands Technologies LLC purchased a new position in Pampa Energía in the first quarter valued at approximately $69,000. Whittier Trust Co. of Nevada Inc. lifted its stake in Pampa Energía by 144.1% in the second quarter. Whittier Trust Co. of Nevada Inc. now owns 1,975 shares of the utilities provider’s stock valued at $87,000 after purchasing an additional 1,166 shares during the last quarter. Finally, SG Americas Securities LLC purchased a new position in Pampa Energía in the first quarter valued at approximately $108,000. Hedge funds and other institutional investors own 12.77% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently commented on PAM shares. JPMorgan Chase & Co. upped their price objective on Pampa Energía from $46.50 to $47.50 and gave the company a “neutral” rating in a research note on Tuesday, May 28th. StockNews.com upgraded Pampa Energía from a “hold” rating to a “buy” rating in a research note on Monday, August 12th. HSBC upgraded Pampa Energía from a “reduce” rating to a “hold” rating and set a $46.00 price objective on the stock in a research note on Tuesday, May 21st. Finally, Citigroup raised shares of Pampa Energía from a “neutral” rating to a “buy” rating and boosted their target price for the company from $51.00 to $58.00 in a report on Wednesday, July 3rd. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $50.50.

Pampa Energía Trading Down 0.9 %

Shares of PAM stock opened at $56.18 on Monday. The company’s fifty day simple moving average is $48.51 and its two-hundred day simple moving average is $45.94. The company has a debt-to-equity ratio of 0.44, a current ratio of 2.33 and a quick ratio of 2.01. Pampa Energía S.A. has a 1 year low of $32.91 and a 1 year high of $57.88. The stock has a market capitalization of $3.06 billion, a price-to-earnings ratio of 7.19 and a beta of 0.89.

Pampa Energía (NYSE:PAM) last issued its earnings results on Wednesday, August 7th. The utilities provider reported $1.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.36 by $0.44. Pampa Energía had a net margin of 20.96% and a return on equity of 12.59%. The business had revenue of $500.00 million for the quarter, compared to analysts’ expectations of $479.17 million. As a group, analysts anticipate that Pampa Energía S.A. will post 8.95 earnings per share for the current year.

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.