Somerset Capital Management LLP boosted its stake in Pampa Energia S.A. (NYSE:PAM) by 50.0% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 21,900 shares of the utilities provider’s stock after acquiring an additional 7,300 shares during the period. Pampa Energia accounts for 0.2% of Somerset Capital Management LLP’s portfolio, making the stock its 16th biggest position. Somerset Capital Management LLP’s holdings in Pampa Energia were worth $759,000 at the end of the most recent reporting period.
A number of other hedge funds also recently made changes to their positions in the stock. Northern Trust Corp grew its stake in shares of Pampa Energia by 14.9% during the 4th quarter. Northern Trust Corp now owns 100,165 shares of the utilities provider’s stock worth $3,187,000 after acquiring an additional 13,012 shares during the period. Legal & General Group Plc lifted its holdings in Pampa Energia by 213.9% during the 4th quarter. Legal & General Group Plc now owns 49,049 shares of the utilities provider’s stock worth $1,560,000 after purchasing an additional 33,424 shares in the last quarter. Deutsche Bank AG lifted its holdings in Pampa Energia by 67.7% during the 4th quarter. Deutsche Bank AG now owns 200,551 shares of the utilities provider’s stock worth $6,379,000 after purchasing an additional 80,984 shares in the last quarter. Virtu Financial LLC purchased a new stake in Pampa Energia during the 1st quarter worth about $213,000. Finally, Deltec Asset Management LLC lifted its holdings in Pampa Energia by 13.0% during the 1st quarter. Deltec Asset Management LLC now owns 64,986 shares of the utilities provider’s stock worth $1,792,000 after purchasing an additional 7,486 shares in the last quarter. Institutional investors and hedge funds own 37.81% of the company’s stock.
Shares of NYSE PAM traded up $0.44 during trading hours on Friday, reaching $17.70. 27,970 shares of the stock traded hands, compared to its average volume of 842,475. The company has a market capitalization of $1.18 billion, a P/E ratio of -11.63 and a beta of 0.60. The company has a quick ratio of 1.20, a current ratio of 1.24 and a debt-to-equity ratio of 0.66. Pampa Energia S.A. has a 52-week low of $14.32 and a 52-week high of $39.89. The company’s 50-day simple moving average is $32.31 and its two-hundred day simple moving average is $29.51.
Several analysts have weighed in on PAM shares. ValuEngine cut Pampa Energia from a “sell” rating to a “strong sell” rating in a report on Thursday, August 1st. Citigroup cut Pampa Energia from a “buy” rating to a “neutral” rating in a report on Monday, July 1st. Morgan Stanley cut Pampa Energia from an “overweight” rating to an “equal weight” rating in a report on Monday. Bank of America cut Pampa Energia from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $52.50 to $33.00 in a report on Tuesday. Finally, TheStreet raised Pampa Energia from a “d+” rating to a “c” rating in a report on Wednesday, June 26th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the company. Pampa Energia currently has an average rating of “Hold” and a consensus price target of $37.00.
About Pampa Energia
Pampa Energía SA, an integrated electricity company, through its subsidiaries, engages in the generation, transmission, and distribution of electricity in Argentina. The company generates electricity through combined cycle gas-fired generating units, thermal generation plants, open-cycle gas turbines, and hydroelectric power generation systems, as well as through a wind farm.
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