PNM Resources, Inc. (Holding Co.) (NYSE:PNM)‘s stock had its “hold” rating reaffirmed by SunTrust Banks, Inc. in a research report issued on Tuesday. They currently have a $38.00 price target on the utilities provider’s stock. SunTrust Banks, Inc.’s price target points to a potential downside of 10.06% from the stock’s current price.

A number of other research firms also recently commented on PNM. ValuEngine upgraded PNM Resources, Inc. (Holding Co.) from a “hold” rating to a “buy” rating in a research note on Thursday, September 7th. Williams Capital downgraded PNM Resources, Inc. (Holding Co.) from a “hold” rating to a “sell” rating and set a $38.00 price target for the company. in a research note on Monday, September 18th. KeyCorp reiterated a “hold” rating on shares of PNM Resources, Inc. (Holding Co.) in a research note on Friday, September 1st. Jefferies Group LLC reiterated a “hold” rating and issued a $43.00 price target on shares of PNM Resources, Inc. (Holding Co.) in a research note on Thursday, August 31st. Finally, Bank of America Corporation assumed coverage on PNM Resources, Inc. (Holding Co.) in a research note on Tuesday. They issued an “underperform” rating and a $38.00 price target for the company. Five equities research analysts have rated the stock with a sell rating, eight have given a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. PNM Resources, Inc. (Holding Co.) has a consensus rating of “Hold” and a consensus price target of $38.74.

PNM Resources, Inc. (PNM) traded up 0.12% during mid-day trading on Tuesday, hitting $42.25. The stock had a trading volume of 881,467 shares. PNM Resources, Inc. has a 12-month low of $30.95 and a 12-month high of $43.05. The firm has a market cap of $3.37 billion, a PE ratio of 24.28 and a beta of 0.30. The company has a 50-day moving average of $41.53 and a 200-day moving average of $39.65.

PNM Resources, Inc. (Holding Co.) (NYSE:PNM) last posted its quarterly earnings results on Friday, July 28th. The utilities provider reported $0.49 EPS for the quarter, topping the Zacks’ consensus estimate of $0.45 by $0.04. The business had revenue of $362.32 million during 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 quarter last year, the business posted $0.40 earnings per share. Analysts expect that PNM Resources, Inc. will post $1.85 earnings per share for the current 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 transaction of $204,850.00. Following the sale, the senior vice president now owns 24,053 shares of the company’s stock, valued at $985,451.41. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 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 shares were sold at an average price of $40.43, for a total value of $215,613.19. Following the sale, the senior vice president now directly owns 65,009 shares in the company, valued at approximately $2,628,313.87. The disclosure for this sale can be found here. Company insiders own 1.26% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. New York State Common Retirement Fund raised its holdings in shares of PNM Resources, Inc. (Holding Co.) by 0.3% during the second quarter. New York State Common Retirement Fund now owns 137,079 shares of the utilities provider’s stock valued at $5,243,000 after buying an additional 395 shares during the last quarter. Comerica Bank raised its holdings in shares of PNM Resources, Inc. (Holding Co.) by 0.7% during the second quarter. Comerica Bank now owns 62,790 shares of the utilities provider’s stock valued at $2,439,000 after buying an additional 454 shares during the last quarter. Mutual of America Capital Management LLC raised its holdings in shares of PNM Resources, Inc. (Holding Co.) by 0.3% during the second quarter. Mutual of America Capital Management LLC now owns 178,577 shares of the utilities provider’s stock valued at $6,831,000 after buying an additional 458 shares during the last quarter. Arizona State Retirement System raised its holdings in shares of PNM Resources, Inc. (Holding Co.) by 1.5% during the second quarter. Arizona State Retirement System now owns 33,600 shares of the utilities provider’s stock valued at $1,285,000 after buying an additional 500 shares during the last quarter. Finally, Moody Lynn & Lieberson LLC raised its holdings in shares of PNM Resources, Inc. (Holding Co.) by 3.9% during the second quarter. Moody Lynn & Lieberson LLC now owns 14,877 shares of the utilities provider’s stock valued at $569,000 after buying an additional 555 shares during the last quarter. 94.18% of the stock is currently owned by institutional investors.

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.

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

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