PNM Resources, Inc. (NYSE:PNM) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Wednesday, November 1st. The brokerage currently has a $48.00 target price on the utilities provider’s stock. Zacks Investment Research‘s price target would indicate a potential upside of 10.60% from the company’s current price.
According to Zacks, “PNM Resources is an energy holding company based in Albuquerque, New Mexico. Its principal subsidiary is Public Service Company of New Mexico, which provides electric power and natural gas utility services to more than 1.3 million people in New Mexico. The company also sells power on the wholesale market in the Western U.S. “
Several other brokerages have also recently weighed in on PNM. Mizuho reissued a “sell” rating and set a $35.00 price objective on shares of PNM Resources in a report on Monday, October 30th. ValuEngine raised PNM Resources from a “hold” rating to a “buy” rating in a report on Thursday, September 7th. Williams Capital cut PNM Resources 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 reaffirmed a “hold” rating on shares of PNM Resources in a research note on Friday, September 1st. Finally, Jefferies Group LLC reaffirmed a “hold” rating and issued a $43.00 price target on shares of PNM Resources in a research note on Thursday, August 31st. Four equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $39.74.
Shares of PNM Resources (NYSE:PNM) traded down $0.10 during midday trading on Wednesday, reaching $43.40. 415,700 shares of the company traded hands, compared to its average volume of 589,691. The firm has a market cap of $3,464.93, a P/E ratio of 21.32, a price-to-earnings-growth ratio of 4.28 and a beta of 0.36. The company has a current ratio of 0.53, a quick ratio of 0.43 and a debt-to-equity ratio of 1.25. PNM Resources has a 1-year low of $31.00 and a 1-year high of $43.80.
PNM Resources (NYSE:PNM) last issued its quarterly earnings results on Friday, October 27th. The utilities provider reported $0.93 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.85 by $0.08. The business had revenue of $419.90 million for the quarter, compared to the consensus estimate of $422.71 million. PNM Resources had a net margin of 18.65% and a return on equity of 16.93%. During the same quarter in the prior year, the company earned $0.78 EPS. research analysts predict that PNM Resources will post 1.86 earnings per share for the current year.
TRADEMARK VIOLATION NOTICE: “PNM Resources, Inc. (PNM) Lifted to “Buy” at Zacks Investment Research” was originally published by Dispatch Tribunal and is the sole property of of Dispatch Tribunal. If you are accessing this article on another publication, it was stolen and reposted in violation of US and international trademark & copyright laws. The correct version of this article can be viewed at https://www.dispatchtribunal.com/2017/11/11/pnm-resources-inc-holding-co-pnm-upgraded-by-zacks-investment-research-to-buy.html.
A number of large investors have recently added to or reduced their stakes in PNM. Meeder Asset Management Inc. acquired a new stake in shares of PNM Resources in the 3rd quarter valued at approximately $170,000. IFP Advisors Inc boosted its holdings in shares of PNM Resources by 42.2% in the 2nd quarter. IFP Advisors Inc now owns 4,247 shares of the utilities provider’s stock valued at $162,000 after buying an additional 1,260 shares during the last quarter. Flinton Capital Management LLC boosted its holdings in shares of PNM Resources by 71.4% in the 2nd quarter. Flinton Capital Management LLC now owns 4,416 shares of the utilities provider’s stock valued at $169,000 after buying an additional 1,840 shares during the last quarter. US Bancorp DE boosted its holdings in shares of PNM Resources by 23.7% in the 2nd quarter. US Bancorp DE now owns 4,716 shares of the utilities provider’s stock valued at $181,000 after buying an additional 905 shares during the last quarter. Finally, World Asset Management Inc acquired a new stake in shares of PNM Resources in the 3rd quarter valued at approximately $206,000. 93.67% of the stock is owned by hedge funds and other institutional investors.
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.
Get a free copy of the Zacks research report on PNM Resources (PNM)
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for PNM Resources Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PNM Resources Inc. and related companies with MarketBeat.com's FREE daily email newsletter.