Truist Financial Corp Has $776,000 Holdings in Pampa Energia S.A. $PAM

Truist Financial Corp cut its holdings in shares of Pampa Energia S.A. (NYSE:PAM) by 47.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 8,768 shares of the utilities provider’s stock after selling 8,065 shares during the period. Truist Financial Corp’s holdings in Pampa Energia were worth $776,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Pictet Asset Management Holding SA increased its holdings in shares of Pampa Energia by 1.9% in the fourth quarter. Pictet Asset Management Holding SA now owns 16,531 shares of the utilities provider’s stock worth $1,463,000 after acquiring an additional 316 shares in the last quarter. Raymond James Financial Inc. bought a new position in shares of Pampa Energia during the 2nd quarter valued at about $37,000. BNP Paribas Financial Markets lifted its holdings in shares of Pampa Energia by 10.4% during the 3rd quarter. BNP Paribas Financial Markets now owns 13,672 shares of the utilities provider’s stock valued at $821,000 after purchasing an additional 1,290 shares in the last quarter. Diversify Advisory Services LLC grew its position in shares of Pampa Energia by 23.3% in the 2nd quarter. Diversify Advisory Services LLC now owns 7,172 shares of the utilities provider’s stock valued at $546,000 after purchasing an additional 1,353 shares during the period. Finally, Van ECK Associates Corp acquired a new position in shares of Pampa Energia in the 3rd quarter valued at approximately $139,000. 12.77% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director Marcos Marcelo Mindlin sold 1,800,000 shares of the firm’s stock in a transaction on Friday, May 8th. The shares were sold at an average price of $3.35, for a total value of $6,030,000.00. Following the completion of the transaction, the director owned 23,171,973 shares of the company’s stock, valued at approximately $77,626,109.55. This trade represents a 7.21% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Gustavo Mariani purchased 25,000 shares of the stock in a transaction on Thursday, May 7th. The stock was acquired at an average price of $81.40 per share, for a total transaction of $2,035,000.00. Following the completion of the purchase, the vice president directly owned 1,566,184 shares in the company, valued at approximately $127,487,377.60. The trade was a 1.62% increase in their position. The SEC filing for this purchase provides additional information. Over the last 90 days, insiders sold 7,511,977 shares of company stock worth $26,001,316. 55.52% of the stock is owned by insiders.

Pampa Energia Stock Up 0.2%

Shares of Pampa Energia stock opened at $79.53 on Monday. The firm has a market cap of $4.33 billion, a PE ratio of 9.92, a P/E/G ratio of 3.15 and a beta of 0.97. The business’s 50 day simple moving average is $83.41 and its 200 day simple moving average is $84.73. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.78 and a current ratio of 2.04. Pampa Energia S.A. has a 52-week low of $54.95 and a 52-week high of $94.50.

Pampa Energia (NYSE:PAM) last issued its quarterly earnings results on Tuesday, March 31st. The utilities provider reported $4.00 earnings per share for the quarter. Pampa Energia had a net margin of 20.31% and a return on equity of 12.23%. The company had revenue of $573.00 million during the quarter. On average, analysts predict that Pampa Energia S.A. will post 8.62 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have commented on PAM. Weiss Ratings restated a “hold (c-)” rating on shares of Pampa Energia in a report on Thursday, January 22nd. Wall Street Zen upgraded shares of Pampa Energia from a “hold” rating to a “strong-buy” rating in a report on Saturday, March 14th. Zacks Research raised shares of Pampa Energia from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, April 29th. Finally, HSBC upgraded shares of Pampa Energia from a “hold” rating to a “buy” rating and raised their price objective for the stock from $88.00 to $97.00 in a report on Thursday, March 12th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat, Pampa Energia presently has an average rating of “Buy” and a consensus target price of $105.00.

About Pampa Energia

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.