* At the highest point: When a pendulum reaches its highest point, it momentarily stops. At this point, its kinetic energy (energy of motion) is zero, and all its energy is stored as potential energy (energy due to its position).

* During the swing: As the pendulum swings back down, its potential energy is converted back into kinetic energy. At the bottom of its swing, it has maximum kinetic energy and minimum potential energy.

So, the answer is yes, but it's not a simple transfer. Here's the full story:

1. Starting at rest: Initially, the pendulum is lifted to its highest point, giving it maximum potential energy and zero kinetic energy.

2. Swinging down: As it swings down, potential energy is converted to kinetic energy. The pendulum gains speed.

3. Bottom of swing: At the bottom, kinetic energy is at its maximum, and potential energy is at its minimum.

4. Swinging up: As it swings back up, kinetic energy is converted back to potential energy. The pendulum slows down.

5. Highest point again: At the highest point, the process repeats.

Important Note: In reality, a pendulum won't swing forever. Friction from the air and the pivot point will cause the pendulum to lose energy over time. This energy is mostly converted into heat, which is a less organized form of energy.