PNM Resources, Inc. (Holding Co.) (PNM) Upgraded by Zacks Investment Research to “Buy”

Zacks Investment Research upgraded shares of PNM Resources, Inc. (Holding Co.) (NYSE:PNM) from a hold rating to a buy rating in a report released on Wednesday. The brokerage currently has $48.00 price target on the utilities provider’s stock.

According to Zacks, “PNM Resources is an energy holding company based in Albuquerque, New Mexico. Its principal subsidiary is Public Service Company of New Mexico, which provides electric power and natural gas utility services to more than 1.3 million people in New Mexico. The company also sells power on the wholesale market in the Western U.S. “

Other research analysts also recently issued research reports about the company. ValuEngine raised PNM Resources, Inc. (Holding Co.) from a hold rating to a buy rating in a research note on Thursday, September 7th. Argus reaffirmed a buy rating and issued a $41.40 price objective (down previously from $43.00) on shares of PNM Resources, Inc. (Holding Co.) in a research note on Friday, August 11th. BidaskClub raised PNM Resources, Inc. (Holding Co.) from a sell rating to a hold rating in a research note on Friday, July 28th. Jefferies Group LLC reaffirmed a hold rating and issued a $38.00 price objective on shares of PNM Resources, Inc. (Holding Co.) in a research note on Friday, July 21st. Finally, KeyCorp reaffirmed a hold rating on shares of PNM Resources, Inc. (Holding Co.) in a research note on Friday, September 1st. Four analysts have rated the stock with a sell rating, eight have given a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. The company presently has an average rating of Hold and an average target price of $39.74.

PNM Resources, Inc. (NYSE PNM) opened at $42.40 on Wednesday. PNM Resources, Inc. has a 52 week low of $30.95 and a 52 week high of $43.80. The company has a quick ratio of 0.37, a current ratio of 0.53 and a debt-to-equity ratio of 1.25. The stock has a market capitalization of $3,377.33, a P/E ratio of 20.78, a PEG ratio of 4.01 and a beta of 0.36.

PNM Resources, Inc. (Holding Co.) (NYSE:PNM) last released its quarterly earnings data on Friday, October 27th. The utilities provider reported $0.93 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.85 by $0.08. PNM Resources, Inc. (Holding Co.) had a return on equity of 9.18% and a net margin of 11.27%. The company had revenue of $419.90 million during the quarter, compared to the consensus estimate of $422.71 million. During the same quarter in the prior year, the firm posted $0.78 earnings per share. analysts expect that PNM Resources, Inc. will post 1.86 EPS for the current fiscal year.

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The business also recently announced a quarterly dividend, which will be paid on Tuesday, November 14th. Investors of record on Monday, October 30th will be issued a $0.2425 dividend. This represents a $0.97 annualized dividend and a yield of 2.29%. The ex-dividend date is Friday, October 27th. PNM Resources, Inc. (Holding Co.)’s payout ratio is presently 48.74%.

In related news, SVP Ronald N. Darnell sold 5,000 shares of the company’s stock in a transaction that occurred on Friday, August 11th. The stock was sold at an average price of $40.97, for a total value of $204,850.00. Following the sale, the senior vice president now directly owns 24,053 shares in the company, valued at $985,451.41. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 1.26% of the company’s stock.

Several institutional investors have recently bought and sold shares of the business. Bessemer Group Inc. boosted its holdings in shares of PNM Resources, Inc. (Holding Co.) by 15.7% during the 3rd quarter. Bessemer Group Inc. now owns 11,059 shares of the utilities provider’s stock worth $446,000 after buying an additional 1,500 shares in the last quarter. World Asset Management Inc bought a new position in shares of PNM Resources, Inc. (Holding Co.) during the 3rd quarter worth approximately $206,000. Adams Diversified Equity Fund Inc. bought a new position in shares of PNM Resources, Inc. (Holding Co.) during the 3rd quarter worth approximately $999,000. Deroy & Devereaux Private Investment Counsel Inc. boosted its holdings in shares of PNM Resources, Inc. (Holding Co.) by 28.8% during the 3rd quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 407,147 shares of the utilities provider’s stock worth $16,408,000 after buying an additional 91,064 shares in the last quarter. Finally, Aperio Group LLC boosted its holdings in shares of PNM Resources, Inc. (Holding Co.) by 23.6% during the 3rd quarter. Aperio Group LLC now owns 63,845 shares of the utilities provider’s stock worth $2,573,000 after buying an additional 12,176 shares in the last quarter. Hedge funds and other institutional investors own 94.47% of the company’s stock.

About PNM Resources, Inc. (Holding Co.)

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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