Shares of PNM Resources Inc (NYSE:PNM) have earned a consensus recommendation of “Hold” from the ten brokerages that are currently covering the company. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and three have given a buy rating to the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $35.97.

PNM has been the topic of several research analyst reports. Jefferies Group LLC upped their price objective on shares of PNM Resources to $36.50 and gave the stock a “hold” rating in a research note on Wednesday, March 1st. Williams Capital cut shares of PNM Resources from a “buy” rating to a “hold” rating and upped their price objective for the stock from $35.00 to $36.00 in a research note on Wednesday, March 1st. Barclays PLC reaffirmed a “hold” rating and set a $36.00 price objective on shares of PNM Resources in a research note on Wednesday, March 1st. Royal Bank of Canada upped their price objective on shares of PNM Resources from $37.00 to $38.00 and gave the stock an “outperform” rating in a research note on Thursday, March 9th. Finally, Zacks Investment Research cut shares of PNM Resources from a “hold” rating to a “sell” rating in a research note on Saturday, March 25th.

Shares of PNM Resources (NYSE:PNM) opened at 37.75 on Friday. The stock’s 50 day moving average price is $37.32 and its 200-day moving average price is $35.20. PNM Resources has a 12-month low of $30.95 and a 12-month high of $38.39. The company has a market cap of $3.01 billion, a PE ratio of 23.32 and a beta of 0.30.

PNM Resources (NYSE:PNM) last issued its quarterly earnings data on Friday, April 28th. The utilities provider reported $0.28 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.24 by $0.04. The firm had revenue of $330.20 million for the quarter. PNM Resources had a net margin of 0.07% and a return on equity of 7.14%. PNM Resources’s quarterly revenue was up 6.2% compared to the same quarter last year. During the same period in the prior year, the company posted $0.13 earnings per share. On average, equities research analysts forecast that PNM Resources will post $1.82 earnings per share for the current year.

In other news, CFO Charles N. Eldred sold 4,000 shares of the stock in a transaction that occurred on Monday, March 6th. The shares were sold at an average price of $36.40, for a total transaction of $145,600.00. Following the sale, the chief financial officer now directly owns 99,311 shares of the company’s stock, valued at $3,614,920.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.22% of the stock is owned by corporate insiders.

Several hedge funds have recently added to or reduced their stakes in PNM. BlackRock Inc. boosted its stake in PNM Resources by 16,661.9% in the first quarter. BlackRock Inc. now owns 8,489,239 shares of the utilities provider’s stock valued at $314,103,000 after buying an additional 8,438,593 shares during the period. Vanguard Group Inc. boosted its stake in PNM Resources by 4.6% in the first quarter. Vanguard Group Inc. now owns 7,082,734 shares of the utilities provider’s stock valued at $262,061,000 after buying an additional 308,821 shares during the period. Alliancebernstein L.P. boosted its stake in PNM Resources by 5.2% in the first quarter. Alliancebernstein L.P. now owns 2,928,634 shares of the utilities provider’s stock valued at $108,359,000 after buying an additional 144,125 shares during the period. Goldman Sachs Group Inc. boosted its stake in PNM Resources by 5.7% in the first quarter. Goldman Sachs Group Inc. now owns 2,723,894 shares of the utilities provider’s stock valued at $100,784,000 after buying an additional 147,047 shares during the period. Finally, State Street Corp boosted its stake in PNM Resources by 0.4% in the first quarter. State Street Corp now owns 2,717,553 shares of the utilities provider’s stock valued at $100,549,000 after buying an additional 11,978 shares during the period. 93.48% of the stock is currently 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.

12 Month Chart for NYSE:PNM

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