PNM Resources, Inc. (NYSE:PNM) Receives Consensus Rating of “Moderate Buy” from Analysts

Shares of PNM Resources, Inc. (NYSE:PNM) have received an average rating of “Moderate Buy” from the five analysts that are presently covering the stock, MarketBeat reports. Two research analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $46.20.

A number of research firms recently weighed in on PNM. Wells Fargo & Company raised PNM Resources from an “equal weight” rating to an “overweight” rating and set a $44.00 target price on the stock in a report on Wednesday, January 3rd. TheStreet lowered shares of PNM Resources from a “b-” rating to a “c+” rating in a research report on Thursday, January 4th. StockNews.com cut shares of PNM Resources from a “hold” rating to a “sell” rating in a research note on Wednesday, January 17th. Barclays initiated coverage on shares of PNM Resources in a research note on Thursday, February 8th. They issued an “overweight” rating and a $40.00 price target on the stock. Finally, Mizuho downgraded shares of PNM Resources from a “buy” rating to a “neutral” rating and set a $41.00 price objective for the company. in a research report on Wednesday, January 3rd.

PNM Resources Stock Performance

Shares of PNM stock opened at $36.23 on Friday. The company has a fifty day moving average price of $37.15 and a two-hundred day moving average price of $39.93. PNM Resources has a one year low of $34.63 and a one year high of $49.08. The stock has a market cap of $3.27 billion, a P/E ratio of 35.17, a P/E/G ratio of 0.37 and a beta of 0.35. The company has a debt-to-equity ratio of 1.77, a current ratio of 0.39 and a quick ratio of 0.31.

PNM Resources (NYSE:PNM) last posted its quarterly earnings results on Tuesday, February 6th. The utilities provider reported $0.18 EPS for the quarter, topping analysts’ consensus estimates of $0.14 by $0.04. The business had revenue of $412.11 million during the quarter, compared to analysts’ expectations of $705.05 million. PNM Resources had a return on equity of 10.51% and a net margin of 4.54%. During the same quarter last year, the company posted $0.15 earnings per share. As a group, equities analysts predict that PNM Resources will post 2.66 EPS for the current year.

PNM Resources Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 10th. Investors of record on Friday, April 26th will be paid a $0.387 dividend. The ex-dividend date is Thursday, April 25th. This represents a $1.55 annualized dividend and a dividend yield of 4.27%. PNM Resources’s dividend payout ratio (DPR) is presently 150.49%.

Institutional Trading of PNM Resources

Hedge funds and other institutional investors have recently bought and sold shares of the business. GAMMA Investing LLC grew its position in shares of PNM Resources by 106.4% during the 1st quarter. GAMMA Investing LLC now owns 834 shares of the utilities provider’s stock worth $31,000 after purchasing an additional 430 shares in the last quarter. Fortis Group Advisors LLC boosted its stake in shares of PNM Resources by 100.0% in the fourth quarter. Fortis Group Advisors LLC now owns 800 shares of the utilities provider’s stock valued at $33,000 after buying an additional 400 shares during the period. International Assets Investment Management LLC grew its position in PNM Resources by 4,061.5% during the fourth quarter. International Assets Investment Management LLC now owns 1,082 shares of the utilities provider’s stock worth $45,000 after buying an additional 1,056 shares in the last quarter. State of Wyoming bought a new position in PNM Resources during the 4th quarter worth $46,000. Finally, KBC Group NV acquired a new position in PNM Resources in the 4th quarter valued at $48,000. Institutional investors and hedge funds own 91.68% of the company’s stock.

PNM Resources Company Profile

PNM Resources, Inc, through its subsidiaries, provides electricity and electric services in the United States. It operates through Public Service Company of New Mexico (PNM) and Texas-New Mexico Power Company (TNMP) segments. The PNM segment engages in the generation, transmission, and distribution of electricity.