PNM Resources (NYSE:PNM) Hits New 1-Year High at $52.98

Shares of PNM Resources Inc (NYSE:PNM) hit a new 52-week high during mid-day trading on Monday . The company traded as high as $52.98 and last traded at $52.48, with a volume of 84965 shares changing hands. The stock had previously closed at $52.92.

PNM has been the topic of a number of research analyst reports. Zacks Investment Research cut shares of PNM Resources from a “hold” rating to a “sell” rating in a report on Wednesday, July 31st. TheStreet raised shares of PNM Resources from a “c+” rating to a “b-” rating in a research report on Thursday, August 29th. UBS Group boosted their price target on shares of PNM Resources from $50.00 to $53.00 and gave the company a “neutral” rating in a research report on Friday, September 6th. Barclays reissued a “sell” rating and issued a $49.00 price target on shares of PNM Resources in a research report on Wednesday, June 19th. Finally, Bank of America raised shares of PNM Resources from a “neutral” rating to a “buy” rating and set a $56.00 price target on the stock in a research report on Monday, September 30th. Three analysts have rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the company’s stock. PNM Resources has a consensus rating of “Hold” and a consensus price target of $51.86.

The company has a current ratio of 0.45, a quick ratio of 0.34 and a debt-to-equity ratio of 1.67. The firm has a market cap of $4.22 billion, a P/E ratio of 25.95, a price-to-earnings-growth ratio of 4.63 and a beta of 0.21. The stock’s fifty day moving average is $51.07 and its two-hundred day moving average is $49.13.

PNM Resources (NYSE:PNM) last announced its quarterly earnings data on Friday, August 2nd. The utilities provider reported $0.37 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.37. PNM Resources had a negative net margin of 1.69% and a positive return on equity of 8.08%. The company had revenue of $330.23 million during the quarter. On average, analysts forecast that PNM Resources Inc will post 2.08 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, November 1st will be paid a $0.29 dividend. The ex-dividend date of this dividend is Thursday, October 31st. This represents a $1.16 dividend on an annualized basis and a dividend yield of 2.23%. PNM Resources’s dividend payout ratio (DPR) is 58.00%.

Institutional investors have recently made changes to their positions in the company. First Trust Advisors LP grew its position in PNM Resources by 666.0% during the 1st quarter. First Trust Advisors LP now owns 91,091 shares of the utilities provider’s stock valued at $4,312,000 after purchasing an additional 79,200 shares during the last quarter. Swiss National Bank increased its position in PNM Resources by 3.1% during the first quarter. Swiss National Bank now owns 145,200 shares of the utilities provider’s stock worth $6,874,000 after buying an additional 4,400 shares during the period. Dynamic Technology Lab Private Ltd acquired a new position in PNM Resources during the first quarter worth approximately $350,000. Northern Trust Corp increased its position in PNM Resources by 0.7% during the first quarter. Northern Trust Corp now owns 2,175,967 shares of the utilities provider’s stock worth $103,010,000 after buying an additional 14,464 shares during the period. Finally, ClariVest Asset Management LLC increased its position in PNM Resources by 4.3% during the first quarter. ClariVest Asset Management LLC now owns 60,300 shares of the utilities provider’s stock worth $2,854,000 after buying an additional 2,500 shares during the period. 90.37% of the stock is owned by institutional investors.

About PNM Resources (NYSE:PNM)

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.

See Also: Economic Reports

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


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