Pictet Asset Management Holding SA Reduces Position in Pampa Energía S.A. (NYSE:PAM)

Pictet Asset Management Holding SA trimmed its position in Pampa Energía S.A. (NYSE:PAM - Free Report) by 66.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 6,202 shares of the utilities provider's stock after selling 12,386 shares during the quarter. Pictet Asset Management Holding SA's holdings in Pampa Energía were worth $545,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. TT International Asset Management LTD boosted its position in shares of Pampa Energía by 250.9% during the 4th quarter. TT International Asset Management LTD now owns 1,206,603 shares of the utilities provider's stock worth $106,108,000 after purchasing an additional 862,723 shares during the period. JPMorgan Chase & Co. grew its stake in shares of Pampa Energía by 167.1% in the fourth quarter. JPMorgan Chase & Co. now owns 423,154 shares of the utilities provider's stock valued at $37,212,000 after buying an additional 264,706 shares in the last quarter. William Blair Investment Management LLC raised its holdings in shares of Pampa Energía by 27.6% in the 4th quarter. William Blair Investment Management LLC now owns 200,078 shares of the utilities provider's stock valued at $17,595,000 after buying an additional 43,257 shares during the period. Candriam S.C.A. acquired a new position in Pampa Energía during the 4th quarter worth about $8,038,000. Finally, Alberta Investment Management Corp purchased a new position in Pampa Energía during the 4th quarter valued at about $7,047,000. Hedge funds and other institutional investors own 12.77% of the company's stock.

Pampa Energía Stock Up 14.5 %

Shares of NYSE:PAM traded up $10.06 during trading hours on Monday, reaching $79.65. The stock had a trading volume of 77,515 shares, compared to its average volume of 265,200. Pampa Energía S.A. has a 1 year low of $38.58 and a 1 year high of $97.55. The firm's 50 day moving average is $77.27 and its 200-day moving average is $78.66. The stock has a market capitalization of $4.34 billion, a price-to-earnings ratio of 12.30 and a beta of 0.94. The company has a debt-to-equity ratio of 0.44, a quick ratio of 2.13 and a current ratio of 2.41.

Remove Ads

Pampa Energía (NYSE:PAM - Get Free Report) last announced its quarterly earnings results on Wednesday, March 5th. The utilities provider reported $1.90 earnings per share (EPS) for the quarter. Pampa Energía had a return on equity of 12.15% and a net margin of 19.86%. The company had revenue of $435.00 million during the quarter, compared to the consensus estimate of $454.61 million. Research analysts predict that Pampa Energía S.A. will post 9.33 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, JPMorgan Chase & Co. raised their price objective on shares of Pampa Energía from $59.00 to $93.50 and gave the company a "neutral" rating in a research note on Friday, January 10th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $71.63.

Pampa Energía Profile

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.