PNM Resources Inc (NYSE:PNM) has received an average recommendation of “Hold” from the fifteen ratings firms that are covering the stock, MarketBeat reports. Four analysts have rated the stock with a sell rating, nine have issued a hold rating, one has given a buy rating and one has given a strong buy rating to the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $39.08.
A number of brokerages have weighed in on PNM. Mizuho reissued a “sell” rating and issued a $30.50 price target on shares of PNM Resources in a report on Thursday, January 11th. Royal Bank of Canada reissued a “hold” rating and issued a $40.00 price target on shares of PNM Resources in a report on Thursday. SunTrust Banks reissued a “hold” rating and issued a $39.00 price target on shares of PNM Resources in a report on Tuesday, December 26th. 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 report on Wednesday, November 1st. Finally, Bank of America began coverage on shares of PNM Resources in a report on Tuesday, October 24th. They issued an “underperform” rating and a $38.00 price target for the company.
Shares of PNM Resources (NYSE PNM) opened at $36.85 on Friday. PNM Resources has a 1-year low of $34.00 and a 1-year high of $46.00. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.53 and a quick ratio of 0.43. The firm has a market cap of $3,002.94, a PE ratio of 18.52, a price-to-earnings-growth ratio of 3.76 and a beta of 0.36.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, February 1st. Shareholders of record on Thursday, January 18th were paid a dividend of $0.265 per share. The ex-dividend date of this dividend was Wednesday, January 17th. This is a positive change from PNM Resources’s previous quarterly dividend of $0.24. This represents a $1.06 dividend on an annualized basis and a yield of 2.88%. PNM Resources’s dividend payout ratio is currently 53.27%.
Several institutional investors and hedge funds have recently modified their holdings of PNM. Flinton Capital Management LLC increased its holdings in PNM Resources by 71.4% in the second quarter. Flinton Capital Management LLC now owns 4,416 shares of the utilities provider’s stock worth $169,000 after buying an additional 1,840 shares during the last quarter. Meeder Asset Management Inc. bought a new stake in PNM Resources during the third quarter worth approximately $170,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in PNM Resources by 41.1% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,807 shares of the utilities provider’s stock worth $194,000 after purchasing an additional 1,399 shares during the period. Parametrica Management Ltd bought a new stake in PNM Resources during the fourth quarter worth approximately $200,000. Finally, World Asset Management Inc bought a new stake in PNM Resources during the third quarter worth approximately $206,000. Institutional investors own 92.54% 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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