PNM Resources Inc (PNM) Receives Average Rating of “Hold” from Brokerages

Shares of PNM Resources Inc (NYSE:PNM) have been given an average rating of “Hold” by the seven brokerages that are currently covering the company, Marketbeat reports. Two research analysts have rated the stock with a sell recommendation, four have issued a hold recommendation and one has issued a buy recommendation on the company. The average 1-year price target among brokerages that have covered the stock in the last year is $42.75.

Several equities analysts have recently commented on PNM shares. Barclays upped their price objective on shares of PNM Resources from $38.00 to $39.00 and gave the company a “sell” rating in a research note on Monday, November 19th. Bank of America reissued an “underperform” rating and issued a $42.00 price target (up from $39.00) on shares of PNM Resources in a research note on Tuesday, December 4th. Zacks Investment Research raised shares of PNM Resources from a “hold” rating to a “buy” rating and set a $47.00 price target for the company in a research note on Saturday, January 12th. Finally, Mizuho cut shares of PNM Resources from a “neutral” rating to an “underperform” rating and cut their price objective for the stock from $39.50 to $38.50 in a report on Monday, January 14th.

In other PNM Resources news, SVP Patrick V. Apodaca sold 4,800 shares of the company’s stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $44.32, for a total value of $212,736.00. Following the sale, the senior vice president now owns 63,258 shares in the company, valued at $2,803,594.56. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Joseph Don Tarry sold 1,092 shares of the company’s stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $44.89, for a total transaction of $49,019.88. Following the completion of the sale, the vice president now owns 11,882 shares in the company, valued at approximately $533,382.98. The disclosure for this sale can be found here. In the last 90 days, insiders sold 24,953 shares of company stock worth $1,110,564. Corporate insiders own 1.25% of the company’s stock.

A number of institutional investors and hedge funds have recently made changes to their positions in PNM. Victory Capital Management Inc. grew its holdings in shares of PNM Resources by 0.6% during the third quarter. Victory Capital Management Inc. now owns 1,213,079 shares of the utilities provider’s stock valued at $47,856,000 after buying an additional 7,747 shares during the last quarter. Engineers Gate Manager LP purchased a new stake in shares of PNM Resources during the third quarter valued at approximately $216,000. WINTON GROUP Ltd grew its holdings in shares of PNM Resources by 11.2% during the third quarter. WINTON GROUP Ltd now owns 206,834 shares of the utilities provider’s stock valued at $8,160,000 after buying an additional 20,770 shares during the last quarter. Dupont Capital Management Corp grew its holdings in shares of PNM Resources by 38.8% during the third quarter. Dupont Capital Management Corp now owns 24,316 shares of the utilities provider’s stock valued at $959,000 after buying an additional 6,801 shares during the last quarter. Finally, Piermont Capital Management Inc. grew its holdings in shares of PNM Resources by 64.4% during the third quarter. Piermont Capital Management Inc. now owns 59,680 shares of the utilities provider’s stock valued at $2,354,000 after buying an additional 23,370 shares during the last quarter. Institutional investors and hedge funds own 90.06% of the company’s stock.

PNM Resources stock traded down $0.29 during mid-day trading on Friday, hitting $46.53. The company’s stock had a trading volume of 373,796 shares, compared to its average volume of 421,605. The company has a quick ratio of 0.45, a current ratio of 0.59 and a debt-to-equity ratio of 1.52. The company has a market capitalization of $3.76 billion, a PE ratio of 23.27, a P/E/G ratio of 4.74 and a beta of 0.28. PNM Resources has a 12 month low of $34.95 and a 12 month high of $47.39.

PNM Resources (NYSE:PNM) last posted its quarterly earnings results on Wednesday, February 27th. The utilities provider reported $0.18 earnings per share for the quarter, topping the consensus estimate of $0.17 by $0.01. PNM Resources had a net margin of 5.98% and a return on equity of 9.00%. During the same period in the prior year, the firm earned $0.24 earnings per share. As a group, equities analysts expect that PNM Resources will post 2.15 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 16th. Shareholders of record on Thursday, May 2nd will be issued a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a yield of 2.49%. The ex-dividend date of this dividend is Wednesday, May 1st. PNM Resources’s dividend payout ratio (DPR) is presently 58.00%.

PNM Resources Company Profile

PNM Resources, Inc, through its subsidiaries, engages in the energy and energy-related businesses 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 is primarily involved in the generation, transmission, and distribution of electricity.

Featured Article: Buyback

Analyst Recommendations for PNM Resources (NYSE:PNM)

Receive News & Ratings for PNM Resources Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PNM Resources and related companies with MarketBeat.com's FREE daily email newsletter.



Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on reddit