Shares of PNM Resources Inc (NYSE:PNM) have been assigned a consensus recommendation of “Hold” from the seven research firms that are currently covering the stock, MarketBeat.com reports. Three equities research analysts have rated the stock with a sell recommendation, three have given a hold recommendation and one has issued a buy recommendation on the company. The average 12 month target price among brokers that have covered the stock in the last year is $40.25.
Several equities research analysts have commented on PNM shares. Bank of America decreased their price objective on shares of PNM Resources from $38.00 to $36.00 and set an “underperform” rating for the company in a research note on Tuesday, October 16th. Zacks Investment Research upgraded shares of PNM Resources from a “hold” rating to a “strong-buy” rating and set a $45.00 price objective for the company in a research note on Friday, October 19th. Barclays increased their price objective on shares of PNM Resources from $38.00 to $39.00 and gave the company a “sell” rating in a research note on Monday, November 19th. Finally, Mizuho lowered shares of PNM Resources from a “neutral” rating to an “underperform” rating and decreased their price objective for the company from $39.50 to $38.50 in a research note on Monday, January 14th.
A number of large investors have recently bought and sold shares of the business. Oregon Public Employees Retirement Fund increased its stake in shares of PNM Resources by 4,009.0% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 1,297,417 shares of the utilities provider’s stock worth $32,000 after purchasing an additional 1,265,842 shares during the last quarter. Dubuque Bank & Trust Co. purchased a new stake in shares of PNM Resources during the 4th quarter worth approximately $56,000. IFP Advisors Inc increased its stake in shares of PNM Resources by 32.9% during the 4th quarter. IFP Advisors Inc now owns 1,720 shares of the utilities provider’s stock worth $70,000 after purchasing an additional 426 shares during the last quarter. PNC Financial Services Group Inc. increased its stake in shares of PNM Resources by 38.9% during the 4th quarter. PNC Financial Services Group Inc. now owns 3,925 shares of the utilities provider’s stock worth $162,000 after purchasing an additional 1,100 shares during the last quarter. Finally, Hartford Investment Management Co. purchased a new stake in shares of PNM Resources during the 4th quarter worth approximately $205,000. Hedge funds and other institutional investors own 91.04% of the company’s stock.
NYSE:PNM opened at $42.74 on Tuesday. The company has a quick ratio of 0.29, a current ratio of 0.37 and a debt-to-equity ratio of 1.17. The stock has a market capitalization of $3.42 billion, a price-to-earnings ratio of 22.03, a PEG ratio of 4.29 and a beta of 0.30. PNM Resources has a 52 week low of $34.30 and a 52 week high of $45.35.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 15th. Shareholders of record on Friday, February 1st will be paid a $0.29 dividend. This is a positive change from PNM Resources’s previous quarterly dividend of $0.27. The ex-dividend date is Thursday, January 31st. This represents a $1.16 annualized dividend and a yield of 2.71%. PNM Resources’s dividend payout ratio (DPR) is 59.79%.
About PNM Resources
PNM Resources, Inc, through its subsidiaries, engages in the energy and energy-related businesses in the United States. It operates through Public Service Company of New Mexico (PNM) and Texas-New Mexico Power Company (TNMP) segments. The PNM segment is primarily involved in the generation, transmission, and distribution of electricity.
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