PNM Resources Inc (PNM) Receives Average Recommendation of “Hold” from Analysts

Shares of PNM Resources Inc (NYSE:PNM) have received an average rating of “Hold” from the sixteen research firms that are covering the company, MarketBeat.com reports. Four investment analysts have rated the stock with a sell recommendation, eight have assigned a hold recommendation, three have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $39.81.

Several research firms recently commented on PNM. SunTrust Banks reaffirmed a “hold” rating and set a $38.00 target price on shares of PNM Resources in a report on Friday, November 10th. Zacks Investment Research raised PNM Resources from a “hold” rating to a “buy” rating and set a $48.00 target price on the stock in a report on Wednesday, November 1st. Mizuho reaffirmed a “sell” rating and set a $35.00 target price on shares of PNM Resources in a report on Monday, October 30th. Bank of America began coverage on PNM Resources in a report on Tuesday, October 24th. They set an “underperform” rating and a $38.00 target price on the stock. Finally, Evercore ISI lowered PNM Resources from an “in-line” rating to an “underperform” rating and set a $37.50 target price on the stock. in a report on Tuesday, September 26th.

PNM Resources (NYSE:PNM) opened at $43.60 on Thursday. The company has a quick ratio of 0.43, a current ratio of 0.53 and a debt-to-equity ratio of 1.25. The firm has a market capitalization of $3,600.34, a PE ratio of 22.16, a PEG ratio of 4.44 and a beta of 0.36. PNM Resources has a 1-year low of $32.25 and a 1-year high of $46.00.

PNM Resources (NYSE:PNM) last posted its earnings results on Friday, October 27th. The utilities provider reported $0.93 EPS for the quarter, topping the consensus estimate of $0.85 by $0.08. The firm had revenue of $419.90 million for the quarter, compared to analyst estimates of $422.71 million. PNM Resources had a return on equity of 9.18% and a net margin of 11.27%. During the same period last year, the company earned $0.78 earnings per share. sell-side analysts anticipate that PNM Resources will post 1.86 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, February 1st. Shareholders of record on Thursday, January 18th will be issued a $0.265 dividend. This is a positive change from PNM Resources’s previous quarterly dividend of $0.24. This represents a $1.06 annualized dividend and a yield of 2.43%. The ex-dividend date is Wednesday, January 17th. PNM Resources’s dividend payout ratio (DPR) is presently 48.74%.

Institutional investors and hedge funds have recently modified their holdings of the business. Public Employees Retirement System of Ohio grew its holdings in PNM Resources by 181.0% in the second quarter. Public Employees Retirement System of Ohio now owns 20,951 shares of the utilities provider’s stock valued at $801,000 after purchasing an additional 13,495 shares during the period. Zurich Insurance Group Ltd FI acquired a new stake in PNM Resources in the second quarter valued at approximately $956,000. Wedge Capital Management L L P NC grew its holdings in PNM Resources by 19.0% in the second quarter. Wedge Capital Management L L P NC now owns 16,061 shares of the utilities provider’s stock valued at $614,000 after purchasing an additional 2,568 shares during the period. Adams Diversified Equity Fund Inc. acquired a new stake in PNM Resources in the third quarter valued at approximately $999,000. Finally, 361 Capital LLC acquired a new stake in PNM Resources in the third quarter valued at approximately $2,034,000. 92.55% of the stock is currently owned by institutional investors.

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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.

Analyst Recommendations for PNM Resources (NYSE:PNM)

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