Zacks Investment Research downgraded shares of Pampa Energia (NYSE:PAM) from a buy rating to a hold rating in a report published on Tuesday.
According to Zacks, “Pampa Energía S.A. is the largest fully integrated electricity company in Argentina. Through its subsidiaries, the Company is engaged in the generation, transmission and distribution of electricity in Argentina. “
A number of other research analysts have also recently commented on the company. ValuEngine upgraded Pampa Energia from a hold rating to a buy rating in a research note on Wednesday, November 15th. Santander upgraded Pampa Energia from a hold rating to a buy rating in a report on Friday, December 15th. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The company presently has an average rating of Buy and an average price target of $71.00.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Wells Fargo & Company MN acquired a new stake in Pampa Energia in the fourth quarter valued at $188,000. Envestnet Asset Management Inc. increased its holdings in Pampa Energia by 70.0% in the third quarter. Envestnet Asset Management Inc. now owns 3,139 shares of the utilities provider’s stock valued at $204,000 after purchasing an additional 1,292 shares during the period. 180 Wealth Advisors LLC acquired a new stake in Pampa Energia in the fourth quarter valued at $244,000. Stifel Financial Corp acquired a new stake in Pampa Energia in the second quarter valued at $220,000. Finally, Invictus RG acquired a new stake in Pampa Energia in the third quarter valued at $256,000. Institutional investors and hedge funds own 44.19% of the company’s stock.
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About Pampa Energia
Pampa Energia SA is an integrated electricity company. The Company, through its subsidiaries, is engaged in the generation, transmission and distribution of electricity in Argentina. Its segments include generation, transmission, distribution, oil and gas, and holding and others. Its generation segment includes a direct and indirect equity interest in Central Piedra Buena SA, Central Termica Guemes SA, Central Termica Loma de la Lata SA and Pampa Comercializadora S.A, among others, and investments in companies in the electricity generation sector.
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