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

Shares of PNM Resources, Inc. (NYSE:PNM) have been given a consensus rating of “Hold” by the five research firms that are covering the company, Marketbeat.com reports. Three analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average 1-year price target among brokerages that have covered the stock in the last year is $43.40.

A number of equities analysts have recently commented on PNM shares. StockNews.com lowered shares of PNM Resources from a “hold” rating to a “sell” rating in a research report on Wednesday. Barclays boosted their target price on shares of PNM Resources from $40.00 to $43.00 and gave the stock an “overweight” rating in a research report on Monday, April 15th. Finally, Evercore ISI initiated coverage on PNM Resources in a research report on Thursday, May 30th. They issued an “in-line” rating and a $38.00 price target on the stock.

Institutional Trading of PNM Resources

Several institutional investors have recently made changes to their positions in PNM. Vanguard Group Inc. boosted its holdings in PNM Resources by 1.8% during the first quarter. Vanguard Group Inc. now owns 9,498,325 shares of the utilities provider’s stock valued at $357,517,000 after purchasing an additional 167,395 shares in the last quarter. Zimmer Partners LP grew its position in PNM Resources by 1,332.6% in the first quarter. Zimmer Partners LP now owns 3,551,669 shares of the utilities provider’s stock valued at $133,685,000 after acquiring an additional 3,303,752 shares during the period. Hudson Bay Capital Management LP raised its stake in PNM Resources by 42.5% during the third quarter. Hudson Bay Capital Management LP now owns 2,670,601 shares of the utilities provider’s stock worth $119,136,000 after acquiring an additional 796,077 shares in the last quarter. Reaves W H & Co. Inc. raised its stake in PNM Resources by 6,084.6% during the first quarter. Reaves W H & Co. Inc. now owns 1,740,227 shares of the utilities provider’s stock worth $65,503,000 after acquiring an additional 1,712,089 shares in the last quarter. Finally, First Trust Advisors LP lifted its holdings in shares of PNM Resources by 6.3% during the fourth quarter. First Trust Advisors LP now owns 1,587,169 shares of the utilities provider’s stock valued at $66,026,000 after acquiring an additional 94,267 shares during the period. 91.68% of the stock is currently owned by institutional investors and hedge funds.

PNM Resources Stock Performance

PNM stock opened at $35.99 on Friday. The firm has a 50 day moving average of $37.32 and a two-hundred day moving average of $37.56. PNM Resources has a 12 month low of $34.63 and a 12 month high of $45.94. The company has a market capitalization of $3.25 billion, a price-to-earnings ratio of 39.55 and a beta of 0.35. The company has a quick ratio of 0.27, a current ratio of 0.37 and a debt-to-equity ratio of 1.81.

PNM Resources (NYSE:PNM) last issued its quarterly earnings data on Tuesday, April 30th. The utilities provider reported $0.41 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.68 by ($0.27). PNM Resources had a return on equity of 9.91% and a net margin of 4.38%. The business had revenue of $436.90 million during the quarter, compared to the consensus estimate of $531.00 million. During the same quarter in the prior year, the company posted $0.55 earnings per share. The company’s revenue for the quarter was down 19.7% on a year-over-year basis. As a group, equities analysts anticipate that PNM Resources will post 2.7 EPS for the current fiscal year.

PNM Resources Company Profile

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.