PNM Resources Inc. (NYSE:PNM) had its price objective raised by SunTrust Banks Inc. from $34.00 to $35.00 in a research note issued to investors on Monday morning. They currently have a neutral rating on the stock.
A number of other research analysts have also issued reports on PNM. Zacks Investment Research raised PNM Resources from a sell rating to a hold rating in a report on Thursday, September 15th. Jefferies Group reaffirmed a hold rating and set a $35.00 target price on shares of PNM Resources in a report on Tuesday, August 30th. Argus decreased their price target on PNM Resources from $40.00 to $38.00 and set a buy rating for the company in a research report on Thursday, September 22nd. Williams Capital reiterated a hold rating on shares of PNM Resources in a research report on Wednesday, September 21st. Finally, TheStreet lowered PNM Resources from a buy rating to a hold rating in a research report on Friday, August 26th. Four analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. PNM Resources currently has an average rating of Buy and a consensus target price of $36.00.
PNM Resources (NYSE:PNM) opened at 33.69 on Monday. The firm has a market capitalization of $2.68 billion, a PE ratio of 370.22 and a beta of 0.24. The stock has a 50 day moving average of $32.81 and a 200-day moving average of $33.19. PNM Resources has a one year low of $26.56 and a one year high of $36.15.
PNM Resources (NYSE:PNM) last released its earnings results on Monday, August 8th. The company reported $0.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.39 by $0.01. The firm had revenue of $315.39 million for the quarter, compared to analyst estimates of $379 million. PNM Resources had a return on equity of 7.00% and a net margin of 0.54%. PNM Resources’s revenue was down 10.6% compared to the same quarter last year. During the same period in the previous year, the company earned $0.44 earnings per share. On average, equities analysts predict that PNM Resources will post $1.58 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 14th. Shareholders of record on Monday, October 31st will be given a dividend of $0.22 per share. The ex-dividend date is Thursday, October 27th. This represents a $0.88 dividend on an annualized basis and a yield of 2.61%. PNM Resources’s payout ratio is presently 1,100.00%.
A number of large investors have recently made changes to their positions in PNM. Creative Planning raised its stake in shares of PNM Resources by 119.6% in the second quarter. Creative Planning now owns 2,875 shares of the company’s stock worth $102,000 after buying an additional 1,566 shares during the last quarter. Meeder Asset Management Inc. raised its stake in shares of PNM Resources by 514.3% in the first quarter. Meeder Asset Management Inc. now owns 3,686 shares of the company’s stock valued at $124,000 after buying an additional 3,086 shares in the last quarter. Tower Research Capital LLC TRC purchased a new stake in shares of PNM Resources during the second quarter valued at about $163,000. LS Investment Advisors LLC raised its stake in shares of PNM Resources by 72.6% in the second quarter. LS Investment Advisors LLC now owns 4,754 shares of the company’s stock valued at $168,000 after buying an additional 2,000 shares in the last quarter. Finally, Boothbay Fund Management LLC purchased a new stake in shares of PNM Resources during the first quarter valued at about $200,000. Hedge funds and other institutional investors own 92.60% of the company’s stock.
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 and Subsidiaries (PNM) and Texas-New Mexico Power Company and Subsidiaries (TNMP).
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