Newfoundland Capital Management Invests $1.77 Million in Pampa Energia S.A. (PAM)
Newfoundland Capital Management bought a new position in shares of Pampa Energia S.A. (NYSE:PAM) during the second quarter, according to its most recent 13F filing with the SEC. The fund bought 30,000 shares of the utilities provider’s stock, valued at approximately $1,766,000. Pampa Energia accounts for approximately 0.7% of Newfoundland Capital Management’s portfolio, making the stock its 12th largest position.
A number of other large investors also recently added to or reduced their stakes in PAM. Creative Planning increased its stake in Pampa Energia by 32.1% in the second quarter. Creative Planning now owns 1,850 shares of the utilities provider’s stock valued at $109,000 after buying an additional 450 shares in the last quarter. Tudor Investment Corp ET AL acquired a new stake in Pampa Energia during the first quarter valued at about $235,000. World Asset Management Inc acquired a new stake in Pampa Energia during the second quarter valued at about $235,000. Boston Partners acquired a new stake in Pampa Energia during the first quarter valued at about $260,000. Finally, Sumitomo Mitsui Trust Holdings Inc. acquired a new stake in Pampa Energia during the first quarter valued at about $271,000. Hedge funds and other institutional investors own 44.37% of the company’s stock.
Shares of Pampa Energia S.A. (NYSE:PAM) opened at 61.24 on Monday. The firm’s 50-day moving average is $56.60 and its 200 day moving average is $55.64. Pampa Energia S.A. has a 1-year low of $24.88 and a 1-year high of $65.51. The stock has a market capitalization of $4.50 billion, a P/E ratio of 42.98 and a beta of 1.21.
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Several equities research analysts have issued reports on PAM shares. Bank of America Corporation reiterated a “buy” rating and set a $75.00 price objective (up from $65.00) on shares of Pampa Energia in a research note on Saturday, June 3rd. BidaskClub downgraded shares of Pampa Energia from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, July 12th. Finally, TheStreet downgraded shares of Pampa Energia from a “c” rating to a “d” rating in a research note on Wednesday, May 24th.
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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