MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Raises Stock Position in Pampa Energia S.A. $PAM

Key Points

• MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Pampa Energia S.A. by 9.7% in Q1 2023, owning 557,474 shares valued at approximately $43 million.
• Pampa Energia's stock has a consensus rating of "Hold" among analysts, with a price target range between $85.83 and $92.00.
• The company reported disappointing earnings, with EPS of $0.70, missing the consensus estimate of $2.35, and revenue of $486 million, below estimates of $632 million.

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Pampa Energia S.A. (NYSE:PAM - Free Report) by 9.7% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 557,474 shares of the utilities provider's stock after purchasing an additional 49,099 shares during the quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned about 1.02% of Pampa Energia worth $43,037,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Itau Unibanco Holding S.A. boosted its stake in Pampa Energia by 1,122.0% during the first quarter. Itau Unibanco Holding S.A. now owns 213,674 shares of the utilities provider's stock worth $16,067,000 after buying an additional 196,188 shares during the period. GAMMA Investing LLC lifted its holdings in shares of Pampa Energia by 7,143.8% in the 1st quarter. GAMMA Investing LLC now owns 178,486 shares of the utilities provider's stock worth $13,779,000 after acquiring an additional 176,022 shares during the last quarter. TT International Asset Management LTD lifted its holdings in shares of Pampa Energia by 9.4% in the 1st quarter. TT International Asset Management LTD now owns 1,319,537 shares of the utilities provider's stock worth $101,868,000 after acquiring an additional 112,934 shares during the last quarter. Balyasny Asset Management L.P. purchased a new position in shares of Pampa Energia during the 4th quarter worth approximately $8,556,000. Finally, Helikon Investments Ltd boosted its position in shares of Pampa Energia by 11.2% during the 1st quarter. Helikon Investments Ltd now owns 492,578 shares of the utilities provider's stock worth $38,027,000 after purchasing an additional 49,709 shares during the period. Hedge funds and other institutional investors own 12.77% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on PAM shares. Zacks Research raised shares of Pampa Energia from a "strong sell" rating to a "hold" rating in a research report on Monday, August 18th. Wall Street Zen cut shares of Pampa Energia from a "hold" rating to a "sell" rating in a research report on Friday, September 5th. Finally, Citigroup increased their price objective on shares of Pampa Energia from $88.00 to $92.00 and gave the stock a "neutral" rating in a research report on Monday, May 19th. Three equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, Pampa Energia presently has a consensus rating of "Hold" and a consensus price target of $92.75.

Pampa Energia Stock Down 4.5%

Shares of NYSE PAM traded down $2.83 during midday trading on Friday, hitting $59.35. The company's stock had a trading volume of 116,561 shares, compared to its average volume of 251,026. The business's fifty day simple moving average is $71.13 and its two-hundred day simple moving average is $74.11. The company has a debt-to-equity ratio of 0.39, a current ratio of 2.70 and a quick ratio of 2.33. Pampa Energia S.A. has a 1 year low of $55.36 and a 1 year high of $97.55. The firm has a market capitalization of $3.39 billion, a price-to-earnings ratio of 7.32, a price-to-earnings-growth ratio of 4.82 and a beta of 1.16.

Pampa Energia (NYSE:PAM - Get Free Report) last issued its quarterly earnings results on Wednesday, August 6th. The utilities provider reported $0.70 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.35 by ($1.65). Pampa Energia had a return on equity of 13.01% and a net margin of 23.73%.The firm had revenue of $486.00 million during the quarter, compared to analysts' expectations of $632.05 million. On average, equities analysts predict that Pampa Energia S.A. will post 9.33 EPS for the current year.

About Pampa Energia

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.