Citigroup Inc. Cuts Stock Position in Pampa Energía S.A. (NYSE:PAM)

Citigroup Inc. trimmed its position in shares of Pampa Energía S.A. (NYSE:PAM) by 0.4% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 421,211 shares of the utilities provider’s stock after selling 1,798 shares during the quarter. Citigroup Inc.’s holdings in Pampa Energía were worth $25,290,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Wrapmanager Inc. acquired a new position in shares of Pampa Energía in the third quarter worth $221,000. Fourth Sail Capital LP acquired a new position in Pampa Energía during the 3rd quarter worth $8,552,000. Helikon Investments Ltd increased its holdings in Pampa Energía by 146.6% during the 3rd quarter. Helikon Investments Ltd now owns 1,319,415 shares of the utilities provider’s stock worth $79,218,000 after purchasing an additional 784,407 shares during the period. Diversify Wealth Management LLC raised its position in Pampa Energía by 3.9% in the 3rd quarter. Diversify Wealth Management LLC now owns 15,110 shares of the utilities provider’s stock valued at $1,006,000 after purchasing an additional 573 shares in the last quarter. Finally, Whittier Trust Co. of Nevada Inc. boosted its stake in shares of Pampa Energía by 26.6% in the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 2,501 shares of the utilities provider’s stock valued at $150,000 after buying an additional 526 shares during the period. 12.77% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have recently commented on PAM. JPMorgan Chase & Co. boosted their price objective on Pampa Energía from $55.00 to $59.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. Bank of America increased their price objective on shares of Pampa Energía from $62.00 to $72.00 and gave the company a “buy” rating in a research report on Wednesday, September 11th. Citigroup cut shares of Pampa Energía from a “buy” rating to a “neutral” rating and lifted their price objective for the stock from $58.00 to $75.00 in a research report on Friday, November 1st. Finally, StockNews.com raised Pampa Energía from a “hold” rating to a “buy” rating in a report on Thursday, November 14th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $63.00.

Pampa Energía Stock Up 1.6 %

Shares of NYSE:PAM opened at $83.93 on Wednesday. The firm has a 50 day simple moving average of $67.30 and a 200-day simple moving average of $54.92. Pampa Energía S.A. has a twelve month low of $38.15 and a twelve month high of $86.91. The company has a current ratio of 2.41, a quick ratio of 2.13 and a debt-to-equity ratio of 0.44. The company has a market capitalization of $4.58 billion, a PE ratio of 12.96 and a beta of 0.88.

Pampa Energía (NYSE:PAM) last announced its quarterly earnings results on Wednesday, November 6th. The utilities provider reported $2.70 earnings per share for the quarter, beating analysts’ consensus estimates of $1.75 by $0.95. The firm had revenue of $540.00 million during the quarter, compared to analysts’ expectations of $517.71 million. Pampa Energía had a net margin of 19.86% and a return on equity of 12.15%. During the same period in the previous year, the company earned $2.80 earnings per share. On average, equities analysts predict that Pampa Energía S.A. will post 8.65 EPS for the current fiscal 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.