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We present the results from a detailed analysis of the 2007 Swift monitoringcampaign of the quasar PG1211+143. We constructed broad-band, optical/UV/X-rayspectral energy distributions over three X-ray flux intervals. We fitted themwith a model which accounts for the disc and the X-ray coronal emission and thewarm absorber (well established in this source). The three flux spectra arewell fitted by the model we considered. The disc inner temperature remainsconstant at ~2 eV, while X-rays are variable both in spectral slope andnormalization. The absorber covers almost 90% of the central source. It isoutflowing with a velocity less than 2.3*10^4 km/s (3sigma upper limit), andhas a column density of ~10^23.2. Its ionization parameter varies by a factorof 1.6, and it is in photo-ionizing equilibrium with the ionizing flux. It islocated at a distance of less than 0.35 pc from the central source and itsrelative thickness, DR/R is less than 0.1. The absorber' s ionization parametervariations can explain the larger than average amplitude of the X-rayvariations. The absence of optical/UV variations (consistent with the highblack hole mass estimate) argues against the presence of inward propagatingdisc fluctuations and strong X-ray illumination of the disc (in agreement withthe low ratio of X-ray over the bolometric luminosity of ~20-35). We estimatean upper limit for the mass outflow of ~5 solar masses per year (~2.3 times theEddington mass accretion rate). If the outflow rate is indeed that high, thenit must be a short-lived episode in the quasar's life time. Finally, weestimate an upper limit for the kinetic power of the outflow of ~1.4*10^43ergs/s. This outflow cannot deploy significant mechanical energy to thesurrounding ISM of the quasar's host galaxy, but is sufficient to heat the ISMto 10^7 K and to produce a fast decline to the star formation rate of thegalaxy.

Modelling the variable broad-band optical/UV/X-ray spectrum of PG1211+143: Implications for the ionized outflow