Pampa Energia (NYSE:PAM) Shares Gap Up - Here's Why

Key Points

• Pampa Energia's stock price gapped up from $57.44 to $63.10, closing at $63.17 following recent upgrades in ratings from several brokerages.
• Despite positive ratings, the company reported disappointing quarterly earnings, with earnings per share (EPS) of $0.70 missing analyst estimates of $2.35 and revenues falling short at $486 million.
• Institutional investors have shown increased interest, with notable increases in holdings from firms like Bank of America Corp DE and other financial entities during the fourth quarter.

Pampa Energia S.A. (NYSE:PAM - Get Free Report) gapped up prior to trading on Monday . The stock had previously closed at $57.44, but opened at $63.10. Pampa Energia shares last traded at $63.17, with a volume of 163,756 shares trading hands.

Analyst Ratings Changes

Several equities analysts have recently weighed in on PAM shares. Zacks Research upgraded Pampa Energia from a "strong sell" rating to a "hold" rating in a research report on Monday, August 18th. Wall Street Zen upgraded Pampa Energia from a "sell" rating to a "hold" rating in a research report on Saturday, September 13th. Three research analysts have rated the stock with a Hold rating, According to MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $92.75.

Pampa Energia Stock Performance

The company has a market cap of $3.13 billion, a PE ratio of 7.97, a P/E/G ratio of 5.22 and a beta of 1.16. The company has a current ratio of 2.70, a quick ratio of 2.33 and a debt-to-equity ratio of 0.39. The business has a fifty day moving average of $69.54 and a 200-day moving average of $73.24.

Pampa Energia (NYSE:PAM - Get Free Report) last announced 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 net margin of 23.73% and a return on equity of 13.01%. The business had revenue of $486.00 million for the quarter, compared to analysts' expectations of $632.05 million. Equities research analysts anticipate that Pampa Energia S.A. will post 9.33 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in PAM. Itau Unibanco Holding S.A. grew its holdings in shares of Pampa Energia by 1,122.0% during the 1st quarter. Itau Unibanco Holding S.A. now owns 213,674 shares of the utilities provider's stock worth $16,067,000 after acquiring an additional 196,188 shares during the period. GAMMA Investing LLC grew its holdings in shares of Pampa Energia by 7,143.8% during 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 period. TT International Asset Management LTD grew its holdings in shares of Pampa Energia by 9.4% during 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 period. Banco BTG Pactual S.A. grew its holdings in shares of Pampa Energia by 467.2% during the 2nd quarter. Banco BTG Pactual S.A. now owns 93,583 shares of the utilities provider's stock worth $6,493,000 after acquiring an additional 77,083 shares during the period. Finally, Millennium Management LLC grew its holdings in shares of Pampa Energia by 85.4% during the 1st quarter. Millennium Management LLC now owns 162,521 shares of the utilities provider's stock worth $12,547,000 after acquiring an additional 74,841 shares during the period. Hedge funds and other institutional investors own 12.77% of the company's stock.

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.