PNM Resources (NYSE:PNM) Price Target Raised to $54.00

PNM Resources (NYSE:PNM) had its target price boosted by Mizuho from $52.50 to $54.00 in a research note issued to investors on Monday, BenzingaRatingsTable reports. Mizuho currently has a buy rating on the utilities provider’s stock.

PNM has been the subject of several other research reports. UBS Group cut to a sell rating and increased their target price for the stock from GBX 530 ($6.93) to GBX 540 ($7.06) in a research report on Wednesday, June 12th. Wells Fargo & Co restated a buy rating on shares of Allergan in a report on Monday, June 10th. Zacks Investment Research cut ExlService from a hold rating to a sell rating in a report on Wednesday, July 10th. Barclays restated a top pick rating and set a GBX 3,250 ($42.47) price target on shares of in a report on Wednesday, June 19th. Finally, Bank of America upgraded Air Products & Chemicals from an underperform rating to a neutral rating and raised their price target for the company from $170.00 to $215.00 in a report on Thursday, April 25th. Three research analysts have rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company. The stock has an average rating of Hold and an average target price of $50.19.

NYSE:PNM opened at $49.79 on Monday. The company has a debt-to-equity ratio of 1.66, a current ratio of 0.69 and a quick ratio of 0.59. PNM Resources has a 12-month low of $37.17 and a 12-month high of $52.10. The stock’s 50-day simple moving average is $50.06. The stock has a market capitalization of $3.93 billion, a PE ratio of 24.90, a P/E/G ratio of 4.33 and a beta of 0.29.

PNM Resources (NYSE:PNM) last released its earnings results on Tuesday, May 7th. The utilities provider reported $0.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.11 by $0.02. PNM Resources had a return on equity of 8.68% and a net margin of 6.10%. The firm had revenue of $349.65 million during the quarter, compared to analysts’ expectations of $273.12 million. During the same quarter last year, the business posted $0.21 earnings per share. The firm’s revenue was up 10.0% on a year-over-year basis. Research analysts predict that PNM Resources will post 2.08 EPS for the current year.

Large investors have recently bought and sold shares of the company. Osborn Williams & Donohoe LLC bought a new stake in shares of PNM Resources in the 1st quarter valued at approximately $69,000. Quadrant Capital Group LLC lifted its stake in shares of PNM Resources by 1,004.6% in the 1st quarter. Quadrant Capital Group LLC now owns 2,176 shares of the utilities provider’s stock valued at $100,000 after purchasing an additional 1,979 shares during the last quarter. Meeder Asset Management Inc. bought a new stake in shares of PNM Resources in the 1st quarter valued at approximately $123,000. PNC Financial Services Group Inc. lifted its stake in shares of PNM Resources by 38.9% in the 4th quarter. PNC Financial Services Group Inc. now owns 3,925 shares of the utilities provider’s stock valued at $162,000 after purchasing an additional 1,100 shares during the last quarter. Finally, Intrust Bank NA bought a new stake in shares of PNM Resources in the 1st quarter valued at approximately $213,000. 90.14% of the stock is owned by institutional investors and hedge funds.

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.

Further Reading: Fiduciary

Analyst Recommendations for PNM Resources (NYSE:PNM)

Receive News & Ratings for PNM Resources Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PNM Resources and related companies with MarketBeat.com's FREE daily email newsletter.