PNM Resources (NYSE:PNM) Now Covered by StockNews.com

Equities researchers at StockNews.com started coverage on shares of PNM Resources (NYSE:PNM) in a report issued on Tuesday. The firm set a “sell” rating on the utilities provider’s stock.

A number of other equities research analysts also recently weighed in on PNM. Wells Fargo & Company lifted their price target on shares of PNM Resources from $41.00 to $46.00 and gave the company an “overweight” rating in a research report on Thursday, August 1st. Evercore ISI began coverage on PNM Resources in a report on Thursday, May 30th. They issued an “in-line” rating and a $38.00 price objective for the company. Finally, Barclays increased their target price on PNM Resources from $43.00 to $45.00 and gave the stock an “overweight” rating in a report on Monday, July 22nd. One analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $44.20.

PNM Resources Stock Performance

The business’s fifty day moving average price is $38.73 and its 200 day moving average price is $37.74. The firm has a market cap of $3.77 billion, a PE ratio of 45.90 and a beta of 0.35. PNM Resources has a fifty-two week low of $34.63 and a fifty-two week high of $45.10. The company has a debt-to-equity ratio of 1.81, a quick ratio of 0.27 and a current ratio of 0.37.

PNM Resources (NYSE:PNM) last posted its earnings results on Wednesday, July 31st. The utilities provider reported $0.60 earnings per share for the quarter, topping analysts’ consensus estimates of $0.55 by $0.05. PNM Resources had a return on equity of 10.15% and a net margin of 4.50%. The company had revenue of $488.10 million during the quarter, compared to the consensus estimate of $481.02 million. During the same quarter last year, the firm earned $0.55 earnings per share. The company’s revenue was up 2.3% on a year-over-year basis. As a group, sell-side analysts forecast that PNM Resources will post 2.72 EPS for the current year.

Institutional Trading of PNM Resources

Several institutional investors and hedge funds have recently modified their holdings of the business. Inspire Investing LLC raised its stake in PNM Resources by 3.1% during the first quarter. Inspire Investing LLC now owns 9,530 shares of the utilities provider’s stock worth $359,000 after acquiring an additional 290 shares in the last quarter. New York State Teachers Retirement System lifted its stake in PNM Resources by 0.3% in the 1st quarter. New York State Teachers Retirement System now owns 87,439 shares of the utilities provider’s stock valued at $3,291,000 after purchasing an additional 300 shares during the last quarter. Fortis Group Advisors LLC boosted its position in PNM Resources by 100.0% in the fourth quarter. Fortis Group Advisors LLC now owns 800 shares of the utilities provider’s stock valued at $33,000 after buying an additional 400 shares in the last quarter. GAMMA Investing LLC grew its stake in shares of PNM Resources by 106.4% during the first quarter. GAMMA Investing LLC now owns 834 shares of the utilities provider’s stock worth $31,000 after buying an additional 430 shares during the last quarter. Finally, State of Michigan Retirement System increased its holdings in shares of 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 buying an additional 500 shares in the last quarter. 91.68% of the stock is currently owned by institutional investors.

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.