PNM Resources Inc. (NYSE:PNM) Receives Consensus Recommendation of “Buy” from Brokerages
PNM Resources Inc. (NYSE:PNM) has received a consensus recommendation of “Buy” from the nine brokerages that are presently covering the stock. Three investment analysts have rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $35.67.
PNM has been the topic of a number of analyst reports. TheStreet cut shares of PNM Resources from a “buy” rating to a “hold” rating in a research report on Friday, August 26th. Zacks Investment Research upgraded shares of PNM Resources from a “sell” rating to a “hold” rating in a research report on Friday, August 26th. SunTrust Banks Inc. cut their price objective on shares of PNM Resources from $35.00 to $34.00 and set a “neutral” rating on the stock in a research report on Monday, August 29th. Finally, Jefferies Group reiterated a “hold” rating on shares of PNM Resources in a research report on Monday, July 18th.
Hedge funds have recently added to or reduced their stakes in the company. Capstone Asset Management Co. raised its stake in PNM Resources by 0.6% in the second quarter. Capstone Asset Management Co. now owns 6,636 shares of the company’s stock worth $235,000 after buying an additional 40 shares during the period. Lynch & Associates IN raised its stake in PNM Resources by 0.9% in the second quarter. Lynch & Associates IN now owns 7,335 shares of the company’s stock worth $260,000 after buying an additional 65 shares during the period. State Treasurer State of Michigan raised its stake in PNM Resources by 0.3% in the second quarter. State Treasurer State of Michigan now owns 31,934 shares of the company’s stock worth $1,132,000 after buying an additional 100 shares during the period. Moody Lynn & Lieberson LLC raised its stake in PNM Resources by 1.0% in the second quarter. Moody Lynn & Lieberson LLC now owns 14,830 shares of the company’s stock worth $526,000 after buying an additional 144 shares during the period. Finally, Chicago Equity Partners LLC raised its stake in PNM Resources by 0.3% in the second quarter. Chicago Equity Partners LLC now owns 53,275 shares of the company’s stock worth $1,888,000 after buying an additional 170 shares during the period. 93.15% of the stock is owned by institutional investors.
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Shares of PNM Resources (NYSE:PNM) traded up 1.79% on Tuesday, hitting $33.60. 395,715 shares of the company traded hands. PNM Resources has a 1-year low of $25.92 and a 1-year high of $36.15. The firm has a market capitalization of $2.68 billion, a P/E ratio of 369.23 and a beta of 0.24. The firm’s 50-day moving average is $32.67 and its 200 day moving average is $33.14.
PNM Resources (NYSE:PNM) last posted its quarterly earnings data on Monday, August 8th. The company reported $0.40 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.39 by $0.01. PNM Resources had a net margin of 0.54% and a return on equity of 7.00%. The business had revenue of $315.39 million for the quarter, compared to analysts’ expectations of $379 million. During the same quarter in the previous year, the business posted $0.44 earnings per share. The business’s revenue was down 10.6% compared to the same quarter last year. On average, analysts anticipate that PNM Resources will post $1.59 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 22nd. Investors of record on Monday, August 8th were paid a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 2.67%. The ex-dividend date of this dividend was Thursday, August 4th. PNM Resources’s dividend payout ratio (DPR) is presently 1,100.00%.
PNM Resources Company Profile
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 and Subsidiaries (PNM) and Texas-New Mexico Power Company and Subsidiaries (TNMP).
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