SunTrust Banks, Inc. Reiterates Hold Rating for PNM Resources, Inc. (PNM)

PNM Resources, Inc. (NYSE:PNM)‘s stock had its “hold” rating reiterated by analysts at SunTrust Banks, Inc. in a research report issued on Friday. They currently have a $38.00 price objective on the utilities provider’s stock. SunTrust Banks, Inc.’s target price points to a potential downside of 12.44% from the stock’s current price.

A number of other equities analysts have also commented on PNM. BidaskClub raised shares of PNM Resources from a “buy” rating to a “strong-buy” rating in a research report on Thursday, August 10th. Royal Bank of Canada lowered shares of PNM Resources from an “outperform” rating to a “sector perform” rating in a report on Friday, August 18th. Ladenburg Thalmann Financial Services lowered shares of PNM Resources from a “buy” rating to a “neutral” rating and set a $41.00 price objective on the stock. in a report on Friday, August 18th. Evercore ISI lowered shares of PNM Resources from an “in-line” rating to an “underperform” rating and set a $37.50 price objective on the stock. in a report on Tuesday, September 26th. Finally, Zacks Investment Research raised shares of PNM Resources from a “hold” rating to a “buy” rating and set a $48.00 price objective on the stock in a report on Wednesday, November 1st. Four research analysts have rated the stock with a sell rating, eight have given a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $39.74.

PNM Resources (NYSE:PNM) opened at $43.40 on Friday. The company has a market cap of $3,464.93, a P/E ratio of 21.32, a PEG ratio of 4.28 and a beta of 0.36. PNM Resources has a 1 year low of $31.00 and a 1 year high of $43.80. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.43 and a current ratio of 0.53.

PNM Resources (NYSE:PNM) last issued its earnings results on Friday, October 27th. The utilities provider reported $0.93 EPS for the quarter, topping the Zacks’ consensus estimate of $0.85 by $0.08. The business had revenue of $419.90 million for the quarter, compared to analyst estimates of $422.71 million. PNM Resources had a net margin of 18.65% and a return on equity of 16.93%. During the same period last year, the company posted $0.78 earnings per share. research analysts anticipate that PNM Resources will post 1.86 EPS for the current year.

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A number of institutional investors and hedge funds have recently made changes to their positions in the business. State Street Corp boosted its stake in PNM Resources by 3.6% in the second quarter. State Street Corp now owns 2,816,088 shares of the utilities provider’s stock valued at $107,715,000 after acquiring an additional 98,535 shares in the last quarter. Ameriprise Financial Inc. boosted its stake in PNM Resources by 32.6% in the second quarter. Ameriprise Financial Inc. now owns 1,388,167 shares of the utilities provider’s stock valued at $53,069,000 after acquiring an additional 341,655 shares in the last quarter. William Blair Investment Management LLC boosted its stake in PNM Resources by 7.4% in the second quarter. William Blair Investment Management LLC now owns 585,026 shares of the utilities provider’s stock valued at $22,377,000 after acquiring an additional 40,301 shares in the last quarter. Thrivent Financial For Lutherans boosted its stake in PNM Resources by 0.3% in the second quarter. Thrivent Financial For Lutherans now owns 413,315 shares of the utilities provider’s stock valued at $15,809,000 after acquiring an additional 1,120 shares in the last quarter. Finally, Deroy & Devereaux Private Investment Counsel Inc. boosted its stake in PNM Resources by 28.8% in the third quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 407,147 shares of the utilities provider’s stock valued at $16,408,000 after acquiring an additional 91,064 shares in the last quarter. Institutional investors own 93.67% of the company’s stock.

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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