PNM Resources Inc. (NYSE:PNM)‘s stock had its “hold” rating reissued by stock analysts at Williams Capital in a report released on Wednesday.
PNM has been the topic of several other reports. SunTrust Banks Inc. lowered their target price on PNM Resources from $35.00 to $34.00 and set a “neutral” rating on the stock in a report on Monday, August 29th. Jefferies Group upgraded PNM Resources from a “hold” rating to a “buy” rating in a report on Tuesday. Zacks Investment Research upgraded PNM Resources from a “sell” rating to a “hold” rating in a report on Thursday, September 15th. TheStreet cut PNM Resources from a “buy” rating to a “hold” rating in a report on Friday, August 26th. Finally, Argus lowered their target price on PNM Resources from $40.00 to $38.00 and set a “buy” rating on the stock in a report on Thursday. Four investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $35.67.
Shares of PNM Resources (NYSE:PNM) traded down 0.06% during midday trading on Wednesday, hitting $34.69. The stock had a trading volume of 161,376 shares. The firm has a market cap of $2.76 billion, a price-to-earnings ratio of 381.21 and a beta of 0.24. PNM Resources has a 52-week low of $26.54 and a 52-week high of $36.15. The firm’s 50 day moving average price is $32.68 and its 200 day moving average price is $33.16.
PNM Resources (NYSE:PNM) last issued its earnings results on Monday, August 8th. The company reported $0.40 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.39 by $0.01. The business had revenue of $315.39 million for the quarter, compared to analysts’ expectations of $379 million. PNM Resources had a return on equity of 7.00% and a net margin of 0.54%. The business’s revenue for the quarter was down 10.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.44 EPS. On average, equities research analysts expect that PNM Resources will post $1.59 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 14th. Investors of record on Monday, October 31st will be issued a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 2.54%. The ex-dividend date is Thursday, October 27th. PNM Resources’s dividend payout ratio is presently 1,100.00%.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PNM. Creative Planning boosted its position in PNM Resources by 119.6% in the second quarter. Creative Planning now owns 2,875 shares of the company’s stock worth $102,000 after buying an additional 1,566 shares in the last quarter. Meeder Asset Management Inc. boosted its position in PNM Resources by 514.3% in the first quarter. Meeder Asset Management Inc. now owns 3,686 shares of the company’s stock worth $124,000 after buying an additional 3,086 shares during the period. Tower Research Capital LLC TRC purchased a new position in PNM Resources during the second quarter worth approximately $163,000. LS Investment Advisors LLC boosted its position in PNM Resources by 72.6% in the second quarter. LS Investment Advisors LLC now owns 4,754 shares of the company’s stock worth $168,000 after buying an additional 2,000 shares during the period. Finally, Boothbay Fund Management LLC purchased a new position in PNM Resources during the first quarter worth approximately $200,000. Hedge funds and other institutional investors own 92.60% 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 and Subsidiaries (PNM) and Texas-New Mexico Power Company and Subsidiaries (TNMP).
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