PNM Resources (NYSE:PNM) received a $38.00 target price from equities research analysts at SunTrust Banks in a research report issued on Wednesday. The brokerage presently has a “hold” rating on the utilities provider’s stock. SunTrust Banks’ price objective would indicate a potential downside of 3.80% from the company’s previous close.
A number of other brokerages also recently commented on PNM. Zacks Investment Research downgraded shares of PNM Resources from a “hold” rating to a “sell” rating in a report on Tuesday. Mizuho reaffirmed a “sell” rating and issued a $35.00 price target on shares of PNM Resources in a report on Monday, October 30th. Williams Capital downgraded shares of PNM Resources from a “hold” rating to a “sell” rating and set a $38.00 price target for the company. in a report on Monday, September 18th. Evercore ISI downgraded shares of PNM Resources from an “in-line” rating to an “underperform” rating and set a $37.50 price target for the company. in a report on Tuesday, September 26th. Finally, ValuEngine downgraded shares of PNM Resources from a “buy” rating to a “hold” rating in a report on Friday, September 22nd. Five investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $39.74.
Shares of PNM Resources (NYSE PNM) traded down $0.15 during trading on Wednesday, hitting $39.50. The stock had a trading volume of 926,500 shares, compared to its average volume of 879,467. The stock has a market capitalization of $3,158.27, a price-to-earnings ratio of 19.85, a price-to-earnings-growth ratio of 4.13 and a beta of 0.36. The company has a current ratio of 0.53, a quick ratio of 0.43 and a debt-to-equity ratio of 1.25. PNM Resources has a 52-week low of $33.35 and a 52-week high of $46.00.
PNM Resources (NYSE:PNM) last issued its quarterly earnings data on Friday, October 27th. The utilities provider reported $0.93 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.85 by $0.08. PNM Resources had a return on equity of 9.18% and a net margin of 11.27%. The firm had revenue of $419.90 million during the quarter, compared to analyst estimates of $422.71 million. During the same quarter last year, the business posted $0.78 earnings per share. sell-side analysts forecast that PNM Resources will post 1.86 earnings per share for the current fiscal year.
A number of hedge funds and other institutional investors have recently made changes to their positions in PNM. Flinton Capital Management LLC lifted its stake in PNM Resources by 71.4% in the second quarter. Flinton Capital Management LLC now owns 4,416 shares of the utilities provider’s stock worth $169,000 after purchasing an additional 1,840 shares during the last quarter. Meeder Asset Management Inc. bought a new stake in PNM Resources in the third quarter worth about $170,000. World Asset Management Inc bought a new stake in PNM Resources in the third quarter worth about $206,000. Neuberger Berman Group LLC bought a new stake in PNM Resources in the second quarter worth about $209,000. Finally, LSV Asset Management bought a new stake in PNM Resources in the second quarter worth about $244,000. 92.21% of the stock is owned by institutional investors and hedge funds.
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About PNM Resources
PNM Resources, Inc (PNMR) is an investor-owned holding company with approximately two regulated utilities providing electricity and electric services in New Mexico and Texas. PNMR’s electric utilities are Public Service Company of New Mexico (PNM) and Texas-New Mexico Power Company (TNMP). It operates in three segments: PNM, TNMP, and Corporate and Other.
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