Pampa Energia (NYSE:PAM) Posts Earnings Results, Beats Expectations By $0.03 EPS

Pampa Energia (NYSE:PAM) announced its quarterly earnings results on Tuesday. The utilities provider reported $2.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.47 by $0.03, FiscalAI reports. Pampa Energia had a net margin of 20.31% and a return on equity of 12.23%. The business had revenue of $746.00 million for the quarter, compared to analyst estimates of $743.17 million.

Pampa Energia Trading Down 2.1%

Shares of NYSE:PAM traded down $1.83 on Tuesday, hitting $84.89. The company had a trading volume of 210,688 shares, compared to its average volume of 223,046. The firm’s 50-day simple moving average is $84.22 and its two-hundred day simple moving average is $83.32. Pampa Energia has a 1 year low of $54.95 and a 1 year high of $94.50. The company has a quick ratio of 1.78, a current ratio of 2.04 and a debt-to-equity ratio of 0.49. The firm has a market capitalization of $4.56 billion, a price-to-earnings ratio of 10.58, a P/E/G ratio of 2.32 and a beta of 0.97.

Insider Activity

In other Pampa Energia news, insider Damian Miguel Mindlin sold 555,000 shares of the firm’s stock in a transaction dated Wednesday, June 3rd. The shares were sold at an average price of $3.55, for a total value of $1,970,250.00. Following the completion of the sale, the insider directly owned 12,541,870 shares in the company, valued at $44,523,638.50. This trade represents a 4.24% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, VP Gustavo Mariani acquired 25,000 shares of the business’s stock in a transaction on Thursday, May 7th. The shares were purchased at an average cost of $81.40 per share, for a total transaction of $2,035,000.00. Following the completion of the transaction, the vice president owned 1,566,184 shares in the company, valued at approximately $127,487,377.60. This represents a 1.62% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. In the last 90 days, insiders have purchased 1,710,694 shares of company stock valued at $7,701,005 and have sold 7,157,000 shares valued at $24,696,070. Insiders own 55.52% of the company’s stock.

Institutional Trading of Pampa Energia

A number of hedge funds have recently modified their holdings of PAM. Invesco Ltd. purchased a new position in Pampa Energia during the 4th quarter valued at about $9,736,000. Vident Advisory LLC purchased a new stake in Pampa Energia in the fourth quarter worth about $444,000. PointState Capital LP bought a new position in shares of Pampa Energia during the fourth quarter valued at approximately $24,006,000. Engineers Gate Manager LP lifted its holdings in shares of Pampa Energia by 89.5% during the fourth quarter. Engineers Gate Manager LP now owns 8,656 shares of the utilities provider’s stock valued at $766,000 after purchasing an additional 4,087 shares during the last quarter. Finally, Seldon Capital LP purchased a new position in shares of Pampa Energia during the fourth quarter valued at approximately $12,582,000. Institutional investors own 12.77% of the company’s stock.

Wall Street Analysts Forecast Growth

PAM has been the subject of several recent analyst reports. JPMorgan Chase & Co. upped their price objective on shares of Pampa Energia from $97.50 to $101.50 and gave the company a “neutral” rating in a research note on Monday, June 1st. Wall Street Zen cut Pampa Energia from a “strong-buy” rating to a “buy” rating in a research note on Saturday, June 20th. Weiss Ratings restated a “hold (c)” rating on shares of Pampa Energia in a report on Friday, June 12th. Finally, Zacks Research lowered Pampa Energia from a “strong-buy” rating to a “hold” rating in a research report on Monday, July 27th. Two equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $103.83.

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.