PNM Resources, Inc. (NYSE:PNM) Given Consensus Rating of “Hold” by Brokerages

PNM Resources, Inc. (NYSE:PNM) has been given a consensus rating of “Hold” by the eight ratings firms that are currently covering the firm, MarketBeat reports. Two research analysts have rated the stock with a sell rating and six have issued a hold rating on the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $50.67.

Separately, Argus downgraded shares of PNM Resources from a “buy” rating to a “hold” rating in a report on Wednesday, August 25th.

NYSE PNM traded up $0.07 during trading on Thursday, reaching $49.69. The company’s stock had a trading volume of 5,376 shares, compared to its average volume of 803,309. The company has a current ratio of 0.62, a quick ratio of 0.52 and a debt-to-equity ratio of 1.49. The firm has a market capitalization of $4.27 billion, a price-to-earnings ratio of 20.28, a price-to-earnings-growth ratio of 4.20 and a beta of 0.53. PNM Resources has a 12 month low of $45.23 and a 12 month high of $50.25. The firm has a 50 day moving average price of $49.23 and a 200 day moving average price of $49.10.

PNM Resources (NYSE:PNM) last posted its quarterly earnings data on Friday, July 30th. The utilities provider reported $0.55 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.46 by $0.09. The firm had revenue of $426.54 million during the quarter, compared to the consensus estimate of $345.08 million. PNM Resources had a net margin of 12.46% and a return on equity of 9.79%. The business’s revenue for the quarter was up 19.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.55 EPS. On average, equities analysts forecast that PNM Resources will post 2.28 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, November 12th. Stockholders of record on Monday, November 1st will be issued a dividend of $0.3275 per share. This represents a $1.31 dividend on an annualized basis and a dividend yield of 2.64%. The ex-dividend date of this dividend is Friday, October 29th. This is an increase from PNM Resources’s previous quarterly dividend of $0.33. PNM Resources’s dividend payout ratio is 57.46%.

Several institutional investors have recently modified their holdings of PNM. Captrust Financial Advisors lifted its holdings in shares of PNM Resources by 1,250.3% during the 1st quarter. Captrust Financial Advisors now owns 2,093 shares of the utilities provider’s stock worth $103,000 after acquiring an additional 1,938 shares during the period. Meeder Asset Management Inc. increased its position in PNM Resources by 203.9% during the 2nd quarter. Meeder Asset Management Inc. now owns 2,641 shares of the utilities provider’s stock worth $129,000 after purchasing an additional 1,772 shares in the last quarter. AGF Investments Inc. acquired a new position in PNM Resources during the 2nd quarter worth approximately $180,000. Sphinx Trading LP acquired a new position in PNM Resources during the 3rd quarter worth approximately $198,000. Finally, Mercer Global Advisors Inc. ADV acquired a new position in PNM Resources during the 1st quarter worth approximately $204,000. 83.26% of the stock is owned by institutional investors.

About PNM Resources

PNM Resources, Inc operates as an investor-owned holding company, which provides electricity and electric services in New Mexico and Texas. It operates through the following segments: Public Service Company of New Mexico (PNM), Texas-New Mexico Power Company (TNMP), and Corporate and Other. The PNM segment includes the retail electric utility operations of the company.

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Analyst Recommendations for PNM Resources (NYSE:PNM)

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