PNM Resources (NYSE:PNM) has been assigned a $36.00 target price by equities research analysts at SunTrust Banks in a report released on Tuesday. The brokerage currently has a “hold” rating on the utilities provider’s stock. SunTrust Banks’ target price indicates a potential downside of 0.41% from the company’s current price.
Several other research analysts also recently commented on the company. Zacks Investment Research raised PNM Resources from a “hold” rating to a “buy” rating and set a $48.00 target price for the company in a research note on Wednesday, November 1st. ValuEngine downgraded PNM Resources from a “buy” rating to a “hold” rating in a research note on Friday, September 22nd. Mizuho reaffirmed a “sell” rating and issued a $35.00 price objective on shares of PNM Resources in a research note on Monday, October 30th. Wells Fargo & Co started coverage on PNM Resources in a research note on Friday, September 22nd. They issued a “market perform” rating and a $42.00 price objective for the company. Finally, Williams Capital downgraded PNM Resources from a “hold” rating to a “sell” rating and set a $38.00 price objective for the company. in a research note on Monday, September 18th. Five research analysts have rated the stock with a sell rating, eight have assigned a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company. PNM Resources presently has a consensus rating of “Hold” and an average target price of $39.20.
PNM Resources (NYSE PNM) opened at $36.15 on Tuesday. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.43 and a current ratio of 0.53. The company has a market capitalization of $2,840.00, a PE ratio of 18.26, a price-to-earnings-growth ratio of 3.56 and a beta of 0.36. PNM Resources has a 52 week low of $33.35 and a 52 week high of $46.00.
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 Thomson Reuters’ consensus estimate of $0.85 by $0.08. The firm had revenue of $419.90 million during the quarter, compared to the consensus estimate 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 previous year, the firm earned $0.78 earnings per share. sell-side analysts forecast that PNM Resources will post 1.86 EPS for the current year.
Several institutional investors have recently added to or reduced their stakes in the company. Ameriprise Financial Inc. boosted its holdings 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 during the last quarter. Lord Abbett & CO. LLC bought a new stake in PNM Resources in the second quarter valued at approximately $11,867,000. State Street Corp boosted its holdings 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 during the last quarter. Deroy & Devereaux Private Investment Counsel Inc. boosted its holdings 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 during the last quarter. Finally, Castleton Investment Management LLC bought a new stake in PNM Resources in the second quarter valued at approximately $2,824,000. 92.46% of the stock is owned by institutional investors.
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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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