PNM Resources, Inc. (NYSE:PNM) Given Average Rating of “Moderate Buy” by Analysts

Shares of PNM Resources, Inc. (NYSE:PNM) have been assigned an average recommendation of “Moderate Buy” from the five analysts that are currently covering the company, Marketbeat.com reports. Two analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $46.80.

Several analysts recently commented on PNM shares. Barclays raised their price objective on PNM Resources from $40.00 to $43.00 and gave the stock an “overweight” rating in a research note on Monday, April 15th. Wells Fargo & Company raised PNM Resources from an “equal weight” rating to an “overweight” rating and set a $44.00 target price for the company in a research note on Wednesday, January 3rd. TheStreet lowered shares of PNM Resources from a “b-” rating to a “c+” rating in a research note on Thursday, January 4th. StockNews.com downgraded shares of PNM Resources from a “hold” rating to a “sell” rating in a research report on Wednesday, January 17th. Finally, Mizuho cut shares of PNM Resources from a “buy” rating to a “neutral” rating and set a $41.00 price objective on the stock. in a research report on Wednesday, January 3rd.

PNM Resources Stock Performance

Shares of NYSE:PNM opened at $36.61 on Friday. The business has a fifty day moving average of $37.13 and a 200-day moving average of $39.65. The company has a debt-to-equity ratio of 1.77, a quick ratio of 0.31 and a current ratio of 0.39. PNM Resources has a twelve month low of $34.63 and a twelve month high of $49.07. The firm has a market cap of $3.30 billion, a PE ratio of 35.54, a price-to-earnings-growth ratio of 9.98 and a beta of 0.35.

PNM Resources (NYSE:PNM) last released its earnings results on Tuesday, February 6th. The utilities provider reported $0.18 EPS for the quarter, beating the consensus estimate of $0.14 by $0.04. The company had revenue of $412.11 million during the quarter, compared to analysts’ expectations of $705.05 million. PNM Resources had a return on equity of 10.51% and a net margin of 4.54%. During the same period last year, the firm earned $0.15 EPS. On average, equities research analysts predict that PNM Resources will post 2.7 EPS for the current fiscal year.

PNM Resources Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 10th. Shareholders of record on Friday, April 26th will be paid a $0.387 dividend. The ex-dividend date of this dividend is Thursday, April 25th. This represents a $1.55 annualized dividend and a yield of 4.23%. PNM Resources’s dividend payout ratio is 150.49%.

Hedge Funds Weigh In On PNM Resources

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. State of Michigan Retirement System lifted its position in PNM Resources by 2.4% during the first quarter. State of Michigan Retirement System now owns 21,089 shares of the utilities provider’s stock worth $794,000 after acquiring an additional 500 shares during the last quarter. First Hawaiian Bank acquired a new stake in PNM Resources during the 1st quarter worth approximately $241,000. GAMMA Investing LLC lifted its holdings in PNM Resources by 106.4% during the 1st quarter. GAMMA Investing LLC now owns 834 shares of the utilities provider’s stock worth $31,000 after purchasing an additional 430 shares during the last quarter. NBC Securities Inc. bought a new stake in PNM Resources in the 1st quarter valued at $2,192,000. Finally, Nomura Holdings Inc. acquired a new position in PNM Resources in the 4th quarter valued at $17,740,000. 91.68% of the stock is owned by institutional investors.

About PNM Resources

PNM Resources, Inc, through its subsidiaries, provides electricity and electric services 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 engages in the generation, transmission, and distribution of electricity.