PNM Resources (NYSE:PNM)‘s stock had its “hold” rating reissued by equities researchers at SunTrust Banks in a note issued to investors on Tuesday, December 26th. They currently have a $39.00 price objective on the utilities provider’s stock. SunTrust Banks’ target price indicates a potential upside of 9.24% from the stock’s previous close.
Several other research analysts have also weighed in on the company. Zacks Investment Research lowered PNM Resources from a “buy” rating to a “hold” rating in a research report on Tuesday, December 26th. Mizuho restated a “sell” rating and issued a $35.00 target price on shares of PNM Resources in a research note on Monday, October 30th. Bank of America began coverage on PNM Resources in a research note on Tuesday, October 24th. They set an “underperform” rating and a $38.00 price target for the company. Evercore ISI downgraded PNM Resources from an “in-line” rating to an “underperform” rating and set a $37.50 price target for the company. in a research note on Tuesday, September 26th. Finally, ValuEngine downgraded PNM Resources from a “buy” rating to a “hold” rating in a research note on Friday, September 22nd. Five analysts have rated the stock with a sell rating, eight have given a hold rating, one has issued a buy rating and one has assigned 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. The firm has a market capitalization of $2,910.00, a price-to-earnings ratio of 18.03, a PEG ratio of 4.11 and a beta of 0.36. The company has a quick ratio of 0.43, a current ratio of 0.53 and a debt-to-equity ratio of 1.25. PNM Resources has a twelve month low of $33.35 and a twelve month high of $46.00.
PNM Resources (NYSE:PNM) last announced its earnings results on Friday, October 27th. The utilities provider reported $0.93 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.85 by $0.08. The company had revenue of $419.90 million for the quarter, compared to analyst estimates of $422.71 million. PNM Resources had a return on equity of 9.18% and a net margin of 11.27%. During the same period in the previous year, the firm earned $0.78 earnings per share. analysts forecast that PNM Resources will post 1.86 EPS for the current year.
A number of hedge funds have recently added to or reduced their stakes in PNM. Public Employees Retirement System of Ohio boosted its position in PNM Resources by 181.0% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 20,951 shares of the utilities provider’s stock valued at $801,000 after buying an additional 13,495 shares during the last quarter. Zurich Insurance Group Ltd FI bought a new position in PNM Resources in the 2nd quarter valued at $956,000. 361 Capital LLC bought a new position in PNM Resources in the 3rd quarter valued at $2,034,000. Van ECK Associates Corp bought a new position in PNM Resources in the 3rd quarter valued at $374,000. Finally, Adams Diversified Equity Fund Inc. bought a new position in PNM Resources in the 3rd quarter valued at $999,000. 92.21% of the stock is owned by hedge funds and other institutional investors.
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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