PNM Resources (NYSE:PNM)‘s stock had its “hold” rating reissued by stock analysts at SunTrust Banks in a report issued on Tuesday, December 26th. They currently have a $39.00 price objective on the utilities provider’s stock. SunTrust Banks’ price target would indicate a potential upside of 9.24% from the company’s previous close.
A number of other research firms have also recently weighed in on PNM. Mizuho restated a “sell” rating and issued a $35.00 price target on shares of PNM Resources in a research note on Monday, October 30th. Zacks Investment Research cut PNM Resources from a “hold” rating to a “sell” rating in a research note on Saturday, October 21st. Williams Capital cut PNM Resources from a “hold” rating to a “sell” rating and set a $38.00 price target on the stock. in a research note on Monday, September 18th. KeyCorp restated a “hold” rating on shares of PNM Resources in a research note on Friday, September 1st. Finally, Evercore ISI cut PNM Resources from an “in-line” rating to an “underperform” rating and set a $37.50 price target on the stock. in a research note on Tuesday, September 26th. Five investment analysts have rated the stock with a sell rating, eight have given a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $39.37.
Shares of PNM Resources (NYSE PNM) opened at $35.70 on Tuesday. PNM Resources has a 12 month low of $33.35 and a 12 month high of $46.00. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.43 and a current ratio of 0.53. The stock has a market capitalization of $2,840.00, a P/E ratio of 18.03, a PEG ratio of 3.81 and a beta of 0.36.
PNM Resources (NYSE:PNM) last posted its quarterly earnings results on Friday, October 27th. The utilities provider reported $0.93 earnings per share for the quarter, beating analysts’ consensus estimates of $0.85 by $0.08. PNM Resources had a return on equity of 16.93% and a net margin of 18.65%. The business had revenue of $419.90 million for the quarter, compared to analysts’ expectations of $422.71 million. During the same quarter in the prior year, the business earned $0.78 EPS. research analysts forecast that PNM Resources will post 1.86 earnings per share for the current year.
A number of hedge funds have recently bought and sold shares of PNM. SG Americas Securities LLC grew its holdings in shares of PNM Resources by 23.3% during the 2nd quarter. SG Americas Securities LLC now owns 24,805 shares of the utilities provider’s stock worth $949,000 after purchasing an additional 4,689 shares in the last quarter. Comerica Bank grew its holdings in shares of PNM Resources by 0.7% during the 2nd quarter. Comerica Bank now owns 62,790 shares of the utilities provider’s stock worth $2,439,000 after purchasing an additional 454 shares in the last quarter. Neuberger Berman Group LLC acquired a new stake in shares of PNM Resources during the 2nd quarter worth $209,000. LSV Asset Management acquired a new stake in shares of PNM Resources during the 2nd quarter worth $244,000. Finally, Martingale Asset Management L P acquired a new stake in shares of PNM Resources during the 2nd quarter worth $758,000. Hedge funds and other institutional investors own 92.21% of the company’s stock.
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PNM Resources Company Profile
PNM Resources, Inc (PNMR) is an investor-owned holding company with approximately two regulated utilities providing electricity and electric services in New Mexico and Texas. PNMR’s electric utilities are Public Service Company of New Mexico (PNM) and Texas-New Mexico Power Company (TNMP). It operates in three segments: PNM, TNMP, and Corporate and Other.
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