PNM Resources, Inc. (Holding Co.) (NYSE:PNM) was upgraded by analysts at ValuEngine from a “hold” rating to a “buy” rating in a report issued on Thursday.

Several other analysts also recently issued reports on the company. Zacks Investment Research downgraded PNM Resources, Inc. (Holding Co.) from a “hold” rating to a “sell” rating in a research note on Thursday, July 20th. BidaskClub downgraded PNM Resources, Inc. (Holding Co.) from a “buy” rating to a “hold” rating in a research note on Saturday, July 1st. 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. 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. Finally, Ladenburg Thalmann Financial Services downgraded PNM Resources, Inc. (Holding Co.) from a “buy” rating to a “neutral” rating and set a $41.00 price objective on the stock. in a research note on Friday, August 18th. One research analyst has rated the stock with a sell rating, nine have given a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. PNM Resources, Inc. (Holding Co.) presently has a consensus rating of “Hold” and an average target price of $37.77.

Shares of PNM Resources, Inc. (NYSE:PNM) traded up 0.59% on Thursday, hitting $42.55. The stock had a trading volume of 303,271 shares. The stock has a market capitalization of $3.39 billion, a P/E ratio of 24.45 and a beta of 0.32. PNM Resources, Inc. has a 52 week low of $30.95 and a 52 week high of $42.95. The firm has a 50-day moving average price of $41.24 and a 200-day moving average price of $38.49.

PNM Resources, Inc. (Holding Co.) (NYSE:PNM) last issued its earnings results on Friday, July 28th. The utilities provider reported $0.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.45 by $0.04. The company had revenue of $362.32 million for the quarter. PNM Resources, Inc. (Holding Co.) had a return on equity of 8.57% and a net margin of 10.05%. During the same period last year, the business posted $0.40 EPS. Equities analysts expect that PNM Resources, Inc. will post $1.85 earnings per share for the current fiscal year.

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In other news, SVP Ronald N. Darnell sold 5,000 shares of PNM Resources, Inc. (Holding Co.) 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 completion of the transaction, the senior vice president now owns 24,053 shares in the company, valued at approximately $985,451.41. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Patrick V. Apodaca sold 5,333 shares of PNM Resources, Inc. (Holding Co.) stock in a transaction that occurred on Wednesday, August 2nd. The stock was sold at an average price of $40.43, for a total value of $215,613.19. Following the completion of the transaction, the senior vice president now owns 65,009 shares of the company’s stock, valued at approximately $2,628,313.87. The disclosure for this sale can be found here. 1.26% of the stock is currently owned by insiders.

Several institutional investors have recently made changes to their positions in PNM. IFP Advisors Inc boosted its holdings in shares of PNM Resources, Inc. (Holding Co.) by 211.8% in the 1st quarter. IFP Advisors Inc now owns 2,987 shares of the utilities provider’s stock worth $111,000 after purchasing an additional 2,029 shares during the period. Meadow Creek Investment Management LLC boosted its holdings in shares of PNM Resources, Inc. (Holding Co.) by 3.9% in the 1st quarter. Meadow Creek Investment Management LLC now owns 3,542 shares of the utilities provider’s stock worth $131,000 after purchasing an additional 132 shares during the period. Glen Harbor Capital Management LLC boosted its holdings in shares of PNM Resources, Inc. (Holding Co.) by 3.9% in the 1st quarter. Glen Harbor Capital Management LLC now owns 4,508 shares of the utilities provider’s stock worth $167,000 after purchasing an additional 168 shares during the period. Flinton Capital Management LLC boosted its holdings in shares of PNM Resources, Inc. (Holding Co.) by 71.4% in the 2nd quarter. Flinton Capital Management LLC now owns 4,416 shares of the utilities provider’s stock worth $169,000 after purchasing an additional 1,840 shares during the period. Finally, Envestnet Asset Management Inc. boosted its holdings in shares of PNM Resources, Inc. (Holding Co.) by 45.1% in the 1st quarter. Envestnet Asset Management Inc. now owns 4,825 shares of the utilities provider’s stock worth $178,000 after purchasing an additional 1,499 shares during the period. Hedge funds and other institutional investors own 95.15% of the company’s stock.

PNM Resources, Inc. (Holding Co.) 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 (PNM) and Texas-New Mexico Power Company (TNMP). It operates in three segments: PNM, TNMP, and Corporate and Other.

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Analyst Recommendations for PNM Resources, Inc. (Holding Co.) (NYSE:PNM)

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