PNM Resources (NYSE:PNM) has been given a $38.00 price objective by SunTrust Banks in a research report issued to clients and investors on Wednesday. The brokerage currently has a “hold” rating on the utilities provider’s stock. SunTrust Banks’ target price would suggest a potential downside of 4.16% from the company’s previous close.

PNM has been the topic of several other research reports. Zacks Investment Research lowered PNM Resources from a “buy” rating to a “hold” rating in a report on Tuesday, December 26th. Bank of America assumed coverage on PNM Resources in a report on Tuesday, October 24th. They issued an “underperform” rating and a $38.00 target price on the stock. Wells Fargo & Co assumed coverage on PNM Resources in a report on Friday, September 22nd. They issued a “market perform” rating and a $42.00 target price on the stock. ValuEngine raised PNM Resources from a “hold” rating to a “buy” rating in a report on Thursday, September 7th. 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. Five investment analysts have rated the stock with a sell rating, eight have issued a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company’s stock. PNM Resources currently has an average rating of “Hold” and a consensus price target of $39.74.

PNM Resources (NYSE:PNM) opened at $39.65 on Wednesday. The company has a market capitalization of $3,182.16, a price-to-earnings ratio of 19.92, a P/E/G ratio of 4.16 and a beta of 0.36. The company has a quick ratio of 0.43, a current ratio of 0.53 and a debt-to-equity ratio of 1.25. PNM Resources has a twelve month low of $33.35 and a twelve month 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, beating 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 quarter in the prior year, the company posted $0.78 earnings per share. equities analysts expect that PNM Resources will post 1.86 EPS for the current fiscal year.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Meeder Asset Management Inc. acquired a new position in PNM Resources in the third quarter valued at $170,000. Flinton Capital Management LLC boosted its stake in PNM Resources by 71.4% in the second quarter. Flinton Capital Management LLC now owns 4,416 shares of the utilities provider’s stock valued at $169,000 after acquiring an additional 1,840 shares in the last quarter. World Asset Management Inc acquired a new position in PNM Resources in the third quarter valued at $206,000. Neuberger Berman Group LLC acquired a new position in PNM Resources in the second quarter valued at $209,000. Finally, LSV Asset Management acquired a new position in PNM Resources in the second quarter valued at $244,000. Institutional investors own 92.21% of the company’s stock.

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PNM Resources 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 (NYSE:PNM)

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