A number of other analysts have also issued reports on PNM. Zacks Investment Research upgraded shares of PNM Resources from a sell rating to a hold rating in a research note on Thursday, September 15th. Jefferies Group restated a hold rating and issued a $35.00 price target on shares of PNM Resources in a research note on Tuesday, August 30th. Williams Capital restated a hold rating on shares of PNM Resources in a research note on Wednesday, September 21st. Argus dropped their price target on shares of PNM Resources from $40.00 to $38.00 and set a buy rating for the company in a research note on Thursday, September 22nd. Finally, TheStreet lowered shares of PNM Resources from a buy rating to a hold rating in a research note on Friday, August 26th. Four investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The stock presently has an average rating of Buy and an average target price of $36.00.
Shares of PNM Resources (NYSE:PNM) traded up 0.09% during trading on Monday, reaching $34.59. 61,571 shares of the company’s stock were exchanged. The company’s 50-day moving average is $32.76 and its 200 day moving average is $33.18. PNM Resources has a 52 week low of $26.56 and a 52 week high of $36.15. The stock has a market capitalization of $2.76 billion, a PE ratio of 380.11 and a beta of 0.24.
PNM Resources (NYSE:PNM) last posted its quarterly earnings data on Monday, August 8th. The company reported $0.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.39 by $0.01. The company had revenue of $315.39 million for the quarter, compared to analyst estimates of $379 million. PNM Resources had a net margin of 0.54% and a return on equity of 7.00%. The business’s quarterly revenue was down 10.6% on a year-over-year basis. During the same quarter last year, the firm posted $0.44 earnings per share. On average, analysts forecast that PNM Resources will post $1.58 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Monday, November 14th. Stockholders of record on Monday, October 31st will be issued a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 2.55%. The ex-dividend date of this dividend is Thursday, October 27th. PNM Resources’s dividend payout ratio (DPR) is 1,100.00%.
Institutional investors have recently made changes to their positions in the stock. Creative Planning increased its position in shares of PNM Resources by 119.6% in the second quarter. Creative Planning now owns 2,875 shares of the company’s stock valued at $102,000 after buying an additional 1,566 shares during the period. Meeder Asset Management Inc. increased its position in shares of PNM Resources by 514.3% in the first quarter. Meeder Asset Management Inc. now owns 3,686 shares of the company’s stock valued at $124,000 after buying an additional 3,086 shares during the period. Tower Research Capital LLC TRC purchased a new position in shares of PNM Resources during the second quarter valued at about $163,000. LS Investment Advisors LLC increased its position in shares of PNM Resources by 72.6% in the second quarter. LS Investment Advisors LLC now owns 4,754 shares of the company’s stock valued at $168,000 after buying an additional 2,000 shares during the period. Finally, Boothbay Fund Management LLC purchased a new position in shares of PNM Resources during the first quarter valued at about $200,000. 92.60% of the stock is owned by 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 and Subsidiaries (PNM) and Texas-New Mexico Power Company and Subsidiaries (TNMP).
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