PNM Resources (NYSE:PNM)‘s stock had its “hold” rating reiterated by investment analysts at SunTrust Banks in a research report issued to clients and investors on Tuesday, December 26th. They presently have a $39.00 target price on the utilities provider’s stock. SunTrust Banks’ price target would suggest a potential upside of 6.70% from the stock’s previous close.
A number of other brokerages have also recently weighed in on PNM. Zacks Investment Research raised shares of PNM Resources from a “hold” rating to a “buy” rating and set a $48.00 price target for the company in a research report on Wednesday, November 1st. Mizuho reissued a “sell” rating and issued a $35.00 price objective on shares of PNM Resources in a research report on Monday, October 30th. ValuEngine raised shares of PNM Resources from a “hold” rating to a “buy” rating in a research report on Thursday, September 7th. Williams Capital cut shares of PNM Resources from a “hold” rating to a “sell” rating and set a $38.00 price objective for the company. in a research report on Monday, September 18th. Finally, KeyCorp reissued a “hold” rating on shares of PNM Resources in a research report on Friday, September 1st. Five investment analysts have rated the stock with a sell rating, eight have given a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the stock. PNM Resources presently has a consensus rating of “Hold” and an average target price of $39.37.
Shares of PNM Resources (NYSE PNM) opened at $36.55 on Tuesday. PNM Resources has a 12 month low of $33.35 and a 12 month high of $46.00. The stock has a market cap of $2,910.00, a price-to-earnings ratio of 18.46, a PEG ratio of 4.11 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 (NYSE:PNM) last announced its quarterly earnings results on Friday, October 27th. The utilities provider reported $0.93 earnings per share for the quarter, topping analysts’ consensus estimates of $0.85 by $0.08. PNM Resources had a net margin of 11.27% and a return on equity of 9.18%. The firm had revenue of $419.90 million during the quarter, compared to analysts’ expectations of $422.71 million. During the same period in the prior year, the company earned $0.78 EPS. sell-side analysts predict that PNM Resources will post 1.86 earnings per share for the current fiscal year.
Several institutional investors have recently modified their holdings of the company. Sterling Capital Management LLC acquired a new stake in shares of PNM Resources in the 3rd quarter valued at about $1,402,000. California Public Employees Retirement System raised its stake in shares of PNM Resources by 9.1% in the 3rd quarter. California Public Employees Retirement System now owns 220,557 shares of the utilities provider’s stock valued at $8,888,000 after purchasing an additional 18,457 shares in the last quarter. Nordea Investment Management AB raised its stake in PNM Resources by 7.1% during the third quarter. Nordea Investment Management AB now owns 44,593 shares of the utilities provider’s stock worth $1,797,000 after acquiring an additional 2,937 shares during the period. American International Group Inc. raised its stake in PNM Resources by 2.8% during the third quarter. American International Group Inc. now owns 216,486 shares of the utilities provider’s stock worth $8,724,000 after acquiring an additional 5,806 shares during the period. Finally, Van ECK Associates Corp acquired a new stake in PNM Resources during the third quarter worth about $374,000. Institutional investors and hedge funds own 92.21% of the company’s stock.
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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.
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