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

Key Points

• JPMorgan Chase & Co. sold 89,959 shares, cutting its Pampa Energía stake by 28.3% in Q3 to 228,039 shares valued at about $13.7 million.
• Insiders continued heavy selling: VP Damian Miguel Mindlin sold 429,000 shares and insiders sold a total of 729,477 shares last quarter, though insiders still own 55.52% of the company.
• Analyst views are mixed — HSBC upgraded Pampa Energía to a "buy" and raised its target to $97 while Zacks cut to "strong sell"; the consensus rating is "Hold" with an average price target of $105.

JPMorgan Chase & Co. decreased its stake in shares of Pampa Energia S.A. (NYSE:PAM - Free Report) by 28.3% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 228,039 shares of the utilities provider's stock after selling 89,959 shares during the quarter. JPMorgan Chase & Co.'s holdings in Pampa Energia were worth $13,696,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently modified their holdings of the stock. Raymond James Financial Inc. acquired a new position in shares of Pampa Energia during the 2nd quarter valued at $37,000. Van ECK Associates Corp acquired a new stake in Pampa Energia in the third quarter worth $139,000. Quantbot Technologies LP acquired a new stake in Pampa Energia in the third quarter worth $187,000. Deltec Asset Management LLC increased its stake in 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 in the last quarter. Finally, Qube Research & Technologies Ltd bought a new stake in Pampa Energia in the second quarter valued at $379,000. Institutional investors own 12.77% of the company's stock.

Insiders Place Their Bets

In other Pampa Energia news, VP Damian Miguel Mindlin sold 429,000 shares of Pampa Energia stock in a transaction dated Wednesday, March 18th. The stock was sold at an average price of $3.45, for a total transaction of $1,480,050.00. Following the completion of the transaction, the vice president owned 14,768,847 shares in the company, valued at approximately $50,952,522.15. The trade was a 2.82% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last quarter, insiders have sold 729,477 shares of company stock valued at $2,504,791. 55.52% of the stock is currently owned by company insiders.

Pampa Energia Stock Performance

PAM opened at $83.96 on Friday. The company has a current ratio of 3.11, a quick ratio of 2.75 and a debt-to-equity ratio of 0.51. The company's fifty day moving average price is $82.68 and its two-hundred day moving average price is $79.50. Pampa Energia S.A. has a 1-year low of $54.95 and a 1-year high of $94.50. The company has a market cap of $4.57 billion, a price-to-earnings ratio of 12.12, a PEG ratio of 3.61 and a beta of 1.16.

Pampa Energia (NYSE:PAM - Get Free Report) last issued its quarterly earnings data on Sunday, February 15th. The utilities provider reported $2.50 earnings per share (EPS) for the quarter. The firm had revenue of $507.00 million during the quarter. Pampa Energia had a net margin of 18.87% and a return on equity of 10.75%. On average, analysts expect that Pampa Energia S.A. will post 9.33 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research firms have recently issued reports on PAM. Weiss Ratings reissued a "hold (c-)" rating on shares of Pampa Energia in a research report on Thursday, January 22nd. Zacks Research lowered Pampa Energia from a "hold" rating to a "strong sell" rating in a research report on Wednesday, December 31st. Wall Street Zen raised Pampa Energia from a "hold" rating to a "strong-buy" rating in a research note on Saturday, March 14th. Finally, HSBC upgraded Pampa Energia from a "hold" rating to a "buy" rating and increased their price target for the stock from $88.00 to $97.00 in a report on Thursday, March 12th. Two research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $105.00.

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.

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