Shares of PNM Resources, Inc. (Holding Co.) (NYSE:PNM) have received an average recommendation of “Hold” from the sixteen brokerages that are currently covering the stock, MarketBeat reports. Five research analysts have rated the stock with a sell rating, eight have given a hold rating, two have given a buy rating and one has issued a strong buy rating on the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $38.72.

A number of research firms have issued reports on PNM. Jefferies Group LLC reiterated a “hold” rating and issued a $38.00 target price on shares of PNM Resources, Inc. (Holding Co.) in a research report on Friday, July 21st. BidaskClub cut PNM Resources, Inc. (Holding Co.) from a “hold” rating to a “sell” rating in a report on Wednesday, July 19th. Bank of America Corporation began coverage on PNM Resources, Inc. (Holding Co.) in a report on Tuesday. They set an “underperform” rating and a $38.00 price target on the stock. SunTrust Banks, Inc. restated a “hold” rating and set a $38.00 price target on shares of PNM Resources, Inc. (Holding Co.) in a report on Tuesday. Finally, Zacks Investment Research upgraded PNM Resources, Inc. (Holding Co.) from a “sell” rating to a “hold” rating in a report on Wednesday, July 12th.

In other news, SVP Ronald N. Darnell sold 5,000 shares of the company’s 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 transaction, the senior vice president now directly owns 24,053 shares of the company’s stock, valued at $985,451.41. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Patrick V. Apodaca sold 5,333 shares of the company’s 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 transaction, the senior vice president now directly owns 65,009 shares in the company, valued at $2,628,313.87. The disclosure for this sale can be found here. 1.26% of the stock is currently owned by insiders.

Several large investors have recently modified their holdings of PNM. UBS Asset Management Americas Inc. raised its position in shares of PNM Resources, Inc. (Holding Co.) by 27.4% during the first quarter. UBS Asset Management Americas Inc. now owns 56,664 shares of the utilities provider’s stock worth $2,097,000 after purchasing an additional 12,170 shares during the period. Envestnet Asset Management Inc. raised its position in shares of PNM Resources, Inc. (Holding Co.) by 45.1% during the first 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. Credit Agricole S A acquired a new position in shares of PNM Resources, Inc. (Holding Co.) during the first quarter worth approximately $718,000. OppenheimerFunds Inc. raised its position in shares of PNM Resources, Inc. (Holding Co.) by 27.1% during the first quarter. OppenheimerFunds Inc. now owns 10,778 shares of the utilities provider’s stock worth $399,000 after purchasing an additional 2,301 shares during the period. Finally, Teachers Advisors LLC raised its position in shares of PNM Resources, Inc. (Holding Co.) by 3.1% during the first quarter. Teachers Advisors LLC now owns 134,773 shares of the utilities provider’s stock worth $4,987,000 after purchasing an additional 3,998 shares during the period. 94.18% of the stock is currently owned by institutional investors.

Shares of PNM Resources, Inc. (NYSE PNM) opened at 42.25 on Wednesday. The company has a market cap of $3.37 billion, a price-to-earnings ratio of 24.28 and a beta of 0.30. The stock has a 50 day moving average of $41.53 and a 200 day moving average of $39.65. PNM Resources, Inc. has a 12-month low of $30.95 and a 12-month high of $43.05.

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, beating 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 period last year, the firm earned $0.40 EPS. On average, equities analysts expect that PNM Resources, Inc. will post $1.85 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, November 14th. Shareholders of record on Monday, October 30th will be paid a $0.2425 dividend. This represents a $0.97 annualized dividend and a yield of 2.30%. The ex-dividend date of this dividend is Friday, October 27th. PNM Resources, Inc. (Holding Co.)’s dividend payout ratio (DPR) is presently 55.43%.

TRADEMARK VIOLATION WARNING: “PNM Resources, Inc. (Holding Co.) (PNM) Receives Consensus Rating of “Hold” from Analysts” was originally posted by American Banking News and is the sole property of of American Banking News. If you are accessing this piece of content on another site, it was copied illegally and reposted in violation of U.S. and international copyright and trademark laws. The correct version of this piece of content can be viewed at https://www.americanbankingnews.com/2017/10/25/pnm-resources-inc-holding-co-pnm-receives-consensus-rating-of-hold-from-analysts.html.

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)

Receive News & Ratings for PNM Resources Inc. (Holding Co.) Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PNM Resources Inc. (Holding Co.) and related companies with MarketBeat.com's FREE daily email newsletter.