Citigroup Upgrades Pampa Energía (NYSE:PAM) to Buy

Pampa Energía (NYSE:PAM) was upgraded by equities research analysts at Citigroup from a “neutral” rating to a “buy” rating in a research note issued to investors on Wednesday, MarketBeat.com reports. The brokerage presently has a $58.00 price objective on the utilities provider’s stock, up from their previous price objective of $51.00. Citigroup’s price objective would suggest a potential upside of 29.96% from the company’s previous close.

A number of other research analysts also recently issued reports on PAM. StockNews.com downgraded Pampa Energía from a “buy” rating to a “hold” rating in a report on Thursday, May 30th. HSBC upgraded Pampa Energía from a “reduce” rating to a “hold” rating and set a $46.00 target price for the company in a report on Tuesday, May 21st. Finally, JPMorgan Chase & Co. raised their price target on Pampa Energía from $46.50 to $47.50 and gave the stock a “neutral” rating in a research note on Tuesday, May 28th. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, Pampa Energía has a consensus rating of “Moderate Buy” and an average price target of $50.50.

Pampa Energía Stock Performance

Shares of PAM stock opened at $44.63 on Wednesday. The company has a market capitalization of $2.43 billion, a P/E ratio of 5.71 and a beta of 0.99. Pampa Energía has a fifty-two week low of $32.91 and a fifty-two week high of $52.17. The company has a debt-to-equity ratio of 0.45, a quick ratio of 2.26 and a current ratio of 2.63. The stock has a 50 day moving average price of $46.10 and a two-hundred day moving average price of $45.44.

Pampa Energía (NYSE:PAM) last announced its quarterly earnings results on Tuesday, May 7th. The utilities provider reported $4.90 earnings per share for the quarter, beating the consensus estimate of $1.38 by $3.52. The business had revenue of $401.00 million during the quarter, compared to analysts’ expectations of $419.61 million. Pampa Energía had a net margin of 25.16% and a return on equity of 14.99%. Analysts expect that Pampa Energía will post 7.91 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in PAM. GAMMA Investing LLC purchased a new stake in Pampa Energía in the fourth quarter worth $41,000. SPX Gestao de Recursos Ltda purchased a new stake in shares of Pampa Energía in the 4th quarter worth about $44,000. EverSource Wealth Advisors LLC bought a new position in shares of Pampa Energía in the 1st quarter worth about $52,000. Headlands Technologies LLC purchased a new position in Pampa Energía during the 1st quarter valued at about $69,000. Finally, FNY Investment Advisers LLC bought a new stake in Pampa Energía during the fourth quarter worth about $99,000. Institutional investors own 12.77% of the company’s stock.

About Pampa Energía

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.