Truist Financial Corp lessened its stake in Pampa Energia S.A. (NYSE:PAM – Free Report) by 47.9% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 8,768 shares of the utilities provider’s stock after selling 8,065 shares during the quarter. Truist Financial Corp’s holdings in Pampa Energia were worth $776,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also made changes to their positions in PAM. Raymond James Financial Inc. acquired a new position in Pampa Energia during the second quarter worth $37,000. Van ECK Associates Corp acquired a new stake in Pampa Energia in the third quarter valued at $139,000. Quantbot Technologies LP bought a new position in shares of Pampa Energia in the 3rd quarter valued at about $187,000. PFG Investments LLC bought a new position in shares of Pampa Energia in the 4th quarter valued at about $283,000. Finally, Qube Research & Technologies Ltd acquired a new position in shares of Pampa Energia during the 2nd quarter worth about $379,000. 12.77% of the stock is owned by institutional investors.
Insider Transactions at Pampa Energia
In other news, VP Damian Miguel Mindlin sold 57,500 shares of the stock in a transaction that occurred on Thursday, April 9th. The stock was sold at an average price of $3.47, for a total transaction of $199,525.00. Following the transaction, the vice president owned 13,910,870 shares in the company, valued at approximately $48,270,718.90. This trade represents a 0.41% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Marcos Marcelo Mindlin sold 1,800,000 shares of Pampa Energia stock in a transaction that occurred on Friday, May 8th. The stock was sold at an average price of $3.35, for a total value of $6,030,000.00. Following the sale, the director directly owned 23,171,973 shares of the company’s stock, valued at approximately $77,626,109.55. The trade was a 7.21% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 7,511,977 shares of company stock worth $26,001,316 over the last quarter. Company insiders own 55.52% of the company’s stock.
Pampa Energia Price Performance
Pampa Energia (NYSE:PAM – Get Free Report) last announced its earnings results on Tuesday, March 31st. The utilities provider reported $4.00 EPS for the quarter. Pampa Energia had a net margin of 20.31% and a return on equity of 12.23%. The business had revenue of $573.00 million during the quarter. Equities analysts forecast that Pampa Energia S.A. will post 8.62 EPS for the current year.
Wall Street Analyst Weigh In
A number of equities research analysts have recently issued reports on the stock. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Pampa Energia in a report on Thursday, January 22nd. Wall Street Zen raised Pampa Energia from a “hold” rating to a “strong-buy” rating in a research report on Saturday, March 14th. Zacks Research upgraded Pampa Energia from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, April 29th. Finally, HSBC raised Pampa Energia from a “hold” rating to a “buy” rating and raised their price objective for the company from $88.00 to $97.00 in a research report on Thursday, March 12th. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, Pampa Energia has a consensus rating of “Buy” and a consensus target price of $105.00.
Check Out Our Latest Analysis on PAM
Pampa Energia 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.
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