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Pampa Energia S.A.’s PAM strategic investments continue to maintain asset quality and help expand its generation portfolio. The company benefits from its efforts to expand its operations in the generation, transmission and distribution of electricity in Argentina. Given its strong growth, PAM makes for a solid investment option in the utility sector.
Let’s focus on the factors that make this Zacks Rank #2 (Buy) company a strong investment option at the moment.
PAM’s Growth Projections & Surprise History
The Zacks Consensus Estimate for Pampa Energia’s 2024 earnings per share (EPS) has moved up 20.6% to $9.54 in the past 60 days.
The Zacks Consensus Estimate for 2024 sales is pinned at $1.88 billion, indicating year-over-year growth of 8.5%.
The company delivered an average earnings surprise of 62% in the past four quarters.
PAM’s Return on Equity (ROE)
ROE indicates how efficiently a company has been utilizing its funds to generate higher returns. Currently, Pampa Energia’s ROE is 12.59%, higher than the industry’s average of 10.34%. This indicates that the company has been utilizing its shareholders' funds more constructively (to generate income) than its peers in the electric power utility industry.
PAM’s Debt Position
Currently, PAM’s total debt to capital is 34.73%, better than the industry’s average of 60.86%.
The time-to-interest earned ratio at the end of the second quarter of 2024 was 2.8. The ratio, being greater than one, reflects the company’s ability to meet future interest obligations without difficulties.
PAM’s Liquidity
Its current ratio of 2.33 is better than the industry’s average of 0.85. A current ratio greater than one indicates that the company has enough short-term assets to liquidate for covering all short-term liabilities, if necessary.
PAM’s Focus on Clean Power Generation
Since 2018, Pampa Energia has been actively developing wind energy, establishing itself as one of Argentina’s leading renewable energy companies. It continues to add more renewable power through inorganic growth and development of MAT ER projects. During the second quarter of 2024, the company’s net power generation was 5,067 gigawatt-hour, including hydro, wind and thermal.
Its PEPE VI project is expected to add 140 megawatts (MW) of wind power. The total completion is expected by October 2024. PAM’s investment of more than $250 million should bring its total installed wind power capacity to 427 MW, positioning it as one of the country’s leading renewable power producers.
PAM’s Stock Price Performance
In the past three months, Pampa Energia’s shares have risen 31% compared with the industry’s 12% growth.
Other Stocks to Consider
A few other top-ranked stocks from the same industry are DTE Energy DTE, Evergy EVRG and Xcel Energy XEL, each carrying a Zacks Rank #2. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
DTE’s long-term (three to five years) earnings growth rate is 8.14%. The Zacks Consensus Estimate for 2024 EPS implies a year-over-year increase of 16.9%.
EVRG’s long-term earnings growth rate is 5.85%. The Zacks Consensus Estimate for 2024 EPS implies year-over-year growth of 8.8%.
XEL’s long-term earnings growth rate is 6.39%. The company delivered an average earnings surprise of 0.7% in the past four quarters.
Zacks Investment Research
Detroit, Michigan-based DTE Energy Company engages in regulated and unregulated energy businesses. With a market cap of $26.1 billion, DTE Energy generates electricity through coal-fired plants, hydroelectric pumped storage, nuclear plants, and wind and solar assets.
Companies worth $10 billion or more are generally described as "large-cap stocks," DTE Energy fits right into that category, with its market cap exceeding this threshold, reflecting its substantial size and influence in the regulated electric industry. It sells electricity to customers in various Ohio, Michigan, and Kentucky counties.
DTE Energy touched its 12% gains during the same time frame.
Over the longer term, DTE stock has trailed behind XLU. DTE gained 18.8% over the past 52 weeks and 14.2% in 2024, underperforming XLU’s 22.2% gains over the past year and 24% returns on a YTD basis.
To confirm the bullish trend, DTE has consistently traded above its 200-day moving average since mid-April and above its 50-day moving average since late February with slight fluctuations.
Shares of DTE experienced marginal gains after the release of its robust Q2 earnings release on Jul. 25. The utility giant reported a solid 7.1% year-over-year growth in operating revenues, totaling $2.9 billion. The company also showcased impressive operational efficiency and cost management, curtailing its operating and non-operating expenses, thereby enhancing profit margins.
Its operating income surged by 26.5% year-over-year to $502 million, while net income soared by a staggering 60.2%, reaching $322 million. Additionally, DTE’s adjusted EPS of $1.43 exceeded analysts’ expectations by 19.2%.
DTE Energy’s competitor Dominion Energy, Inc. , has outperformed DTE. D gained 21.8% over the past year and 23.7% in 2024.
Among the 16 analysts covering the DTE stock, the consensus rating is a “Moderate Buy.” The mean price target of $128.38 represents a potential upside of 1.9% from current price levels.
On the date of publication, Aditya Sarawgi did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
NiSource Inc.’s NI ongoing strategic investments to modernize infrastructure should further enhance the reliability of its operations. The company continues to add clean assets to its portfolio, which helps boost its overall performance. Given its growth opportunities, NiSource makes for a solid investment option in the utility sector.
Let’s focus on the factors that make this Zacks Rank #2 (Buy) company a strong investment pick at the moment.
NI’s Growth Projections & Surprise History
The Zacks Consensus Estimate for 2024 earnings per share (EPS) has increased 0.6% to $1.72 in the past 90 days.
The Zacks Consensus Estimate for third-quarter 2024 sales is pinned at $1.12 billion, indicating a year-over-year increase of 8.6%.
NiSource’s long-term (three to five years) earnings growth rate is 6%. It delivered an average earnings surprise of 20.6% in the past four quarters.
NI’s Debt Position
Currently, NiSource’s total debt to capital is 57.85%, better than the industry’s average of 60.86%.
The time-to-interest earned ratio at the end of the second quarter of 2024 was 2.8. The ratio, being greater than one, reflects the company’s ability to meet future interest obligations without difficulties.
NI’s Dividend Growth
NiSource has been consistently paying dividends to its shareholders. Currently, NiSource’s quarterly dividend is 26.5 cents per share, resulting in an annualized dividend of $1.06, up 6% from the previous level of $1. The company expects an annual dividend payout ratio of 60-70%. Its current dividend yield is 3.15%, better than the Zacks S&P 500 composite’s 1.28%.
NI’s Systematic Investments
NiSource continues to work on a long-term utility infrastructure modernization program. The company expects investments to be in the range of $3.3-$3.5 billion for 2024. It also projects an investment of $16.4 billion during 2024-2028. NiSource expects an annual rate base growth of 8-10% in 2023-2028, caused by its capital expenditures.
The company has a 100% regulated utility business model. NI’s planned regulated investments should improve the reliability and safety of its services and provide efficient electric and natural gas services to its increasing customer base.
NI’s Stock Price Performance
In the past six months, the stock has returned 25.4% compared with the industry’s growth of 20%.
Other Stocks to Consider
A few other top-ranked stocks from the same industry are Evergy EVRG, DTE Energy DTE and Xcel Energy XEL, each carrying a Zacks Rank #2 at present. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
EVRG’s long-term earnings growth rate is 5%. The Zacks Consensus Estimate for 2024 EPS implies an improvement of 8.8% from the bottom line recorded in 2023.
DTE’s long-term earnings growth rate is 8.14%. The Zacks Consensus Estimate for 2024 EPS implies an improvement of 16.9% from the bottom line recorded in 2023.
XEL’s long-term earnings growth rate is 6.4%. The company delivered an average earnings surprise of 0.7% in the trailing four quarters.
Zacks Investment Research
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