PNM Resources Inc. (NYSE:PNM) was upgraded by equities research analysts at Williams Capital from a “hold” rating to a “buy” rating in a report issued on Tuesday. The firm currently has a $35.00 price objective on the stock. Williams Capital’s price objective indicates a potential upside of 11.29% from the stock’s current price.
PNM has been the subject of several other research reports. SunTrust Banks Inc. cut their price target on PNM Resources from $35.00 to $34.00 and set a “neutral” rating for the company in a report on Monday, August 29th. Jefferies Group raised PNM Resources from a “hold” rating to a “buy” rating in a report on Tuesday, September 20th. Zacks Investment Research raised PNM Resources from a “sell” rating to a “hold” rating in a report on Thursday, September 15th. Finally, TheStreet cut PNM Resources from a “buy” rating to a “hold” rating in a report on Friday, August 26th. Three equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $36.21.
PNM Resources (NYSE:PNM) opened at 31.45 on Tuesday. The firm has a market cap of $2.51 billion, a price-to-earnings ratio of 345.60 and a beta of 0.38. PNM Resources has a 12 month low of $26.56 and a 12 month high of $36.15. The firm’s 50-day moving average price is $32.69 and its 200-day moving average price is $33.14.
PNM Resources (NYSE:PNM) last announced its earnings results on Monday, August 8th. The company reported $0.40 earnings per share for the quarter, beating the consensus estimate of $0.39 by $0.01. PNM Resources had a return on equity of 7.00% and a net margin of 0.54%. The firm earned $315.39 million during the quarter, compared to the consensus estimate of $379 million. During the same quarter in the prior year, the company earned $0.44 EPS. The firm’s revenue for the quarter was down 10.6% compared to the same quarter last year. Equities research analysts predict that PNM Resources will post $1.58 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Monday, November 14th. Stockholders of record on Monday, October 31st will be issued a $0.22 dividend. The ex-dividend date is Thursday, October 27th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.80%. PNM Resources’s payout ratio is presently 1,100.00%.
A number of large investors have recently added to or reduced their stakes in the stock. Creative Planning boosted its stake 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 stake 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 in the last quarter. Tower Research Capital LLC TRC acquired a new stake in PNM Resources during the second quarter worth $163,000. LS Investment Advisors LLC boosted its stake 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 in the last quarter. Finally, Boothbay Fund Management LLC acquired a new stake in PNM Resources during the first quarter worth $200,000. 92.60% of the stock is owned by hedge funds and other 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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