Ping Capital Management Inc. Purchases 32,633 Shares of Pampa Energia S.A. $PAM

Key Points

• Ping Capital Management Inc. increased its stake in Pampa Energia S.A. by 74.9%, purchasing an additional 32,633 shares, bringing its total holdings to 76,200 shares.
• Multiple hedge funds have also significantly boosted their positions in Pampa Energia, with Advisors Preferred LLC increasing its holdings by 158.9% in the first quarter.
• Pampa Energia reported earnings of $0.70 per share, which fell short of analysts' estimates of $2.35, leading to various analyst downgrades and adjustments in stock ratings.

Ping Capital Management Inc. increased its position in shares of Pampa Energia S.A. (NYSE:PAM - Free Report) by 74.9% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 76,200 shares of the utilities provider's stock after buying an additional 32,633 shares during the quarter. Pampa Energia accounts for about 1.3% of Ping Capital Management Inc.'s portfolio, making the stock its 12th biggest holding. Ping Capital Management Inc. owned about 0.14% of Pampa Energia worth $5,287,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of PAM. Advisors Preferred LLC grew its holdings in shares of Pampa Energia by 158.9% during the first quarter. Advisors Preferred LLC now owns 730 shares of the utilities provider's stock worth $58,000 after buying an additional 448 shares in the last quarter. Burns Matteson Capital Management LLC bought a new position in shares of Pampa Energia during the first quarter worth about $186,000. Banco Santander S.A. bought a new position in Pampa Energia in the first quarter valued at approximately $221,000. Deltec Asset Management LLC bought a new position in Pampa Energia in the first quarter valued at approximately $232,000. Finally, Ameriprise Financial Inc. bought a new position in Pampa Energia in the fourth quarter valued at approximately $236,000. 12.77% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have weighed in on PAM. Wall Street Zen downgraded Pampa Energia from a "hold" rating to a "sell" rating in a research note on Friday, September 26th. Zacks Research upgraded Pampa Energia from a "strong sell" rating to a "hold" rating in a research note on Monday, August 18th. Three research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $92.75.

Pampa Energia Stock Performance

PAM opened at $60.56 on Friday. Pampa Energia S.A. has a 12-month low of $54.95 and a 12-month high of $97.55. The stock has a market cap of $3.30 billion, a price-to-earnings ratio of 7.47, a PEG ratio of 5.42 and a beta of 1.10. The business has a 50 day moving average of $68.03 and a 200-day moving average of $72.39. The company has a quick ratio of 2.33, a current ratio of 2.70 and a debt-to-equity ratio of 0.39.

Pampa Energia (NYSE:PAM - Get Free Report) last released its quarterly earnings data 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 net margin of 23.73% and a return on equity of 13.01%. The business had revenue of $486.00 million during the quarter, compared to analyst estimates of $632.05 million. On average, equities research analysts expect that Pampa Energia S.A. will post 9.33 earnings per share 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.

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