PNM Resources (NYSE:PNM) had its price objective hoisted by stock analysts at Mizuho from $52.50 to $54.00 in a research report issued on Monday, BenzingaRatingsTable reports. The firm presently has a “buy” rating on the utilities provider’s stock. Mizuho’s price target points to a potential upside of 9.29% from the stock’s previous close.
Other equities research analysts also recently issued reports about the company. Barclays reaffirmed a “top pick” rating and set a GBX 3,250 ($42.47) price target on shares of in a research note on Wednesday, June 19th. Williams Capital reaffirmed a “hold” rating on shares of Southwest Gas in a research note on Monday, March 18th. Zacks Investment Research downgraded ExlService from a “hold” rating to a “sell” rating in a research note on Wednesday, July 10th. Wells Fargo & Co reaffirmed a “buy” rating on shares of Allergan in a research note on Monday, June 10th. Finally, Bank of America raised Air Products & Chemicals from an “underperform” rating to a “neutral” rating and raised their price target for the stock from $170.00 to $215.00 in a research note on Thursday, April 25th. Three equities research analysts have rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $49.03.
PNM opened at $49.41 on Monday. PNM Resources has a fifty-two week low of $37.17 and a fifty-two week high of $52.10. The business’s 50-day moving average price is $50.00. The company has a debt-to-equity ratio of 1.66, a current ratio of 0.69 and a quick ratio of 0.59. The stock has a market cap of $3.94 billion, a P/E ratio of 24.71, a PEG ratio of 4.35 and a beta of 0.29.
Hedge funds and other institutional investors have recently modified their holdings of the company. Osborn Williams & Donohoe LLC acquired a new position in shares of PNM Resources during the 1st quarter valued at about $69,000. Quadrant Capital Group LLC increased its holdings in shares of PNM Resources by 1,004.6% during the 1st quarter. Quadrant Capital Group LLC now owns 2,176 shares of the utilities provider’s stock valued at $100,000 after acquiring an additional 1,979 shares during the last quarter. Meeder Asset Management Inc. acquired a new position in shares of PNM Resources during the 1st quarter valued at about $123,000. PNC Financial Services Group Inc. increased its holdings 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 valued at $162,000 after acquiring an additional 1,100 shares during the last quarter. Finally, Intrust Bank NA acquired a new stake in PNM Resources in the 1st quarter valued at approximately $213,000. 90.14% of the stock is currently 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.
Read More: Understanding Analyst Ratings
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.