PNM Resources, Inc. (Holding Co.) (NYSE:PNM) was downgraded by BidaskClub from a “hold” rating to a “sell” rating in a research note issued on Wednesday, July 19th.
Other equities analysts have also recently issued research reports about the company. Royal Bank Of Canada set a $39.00 price objective on PNM Resources, Inc. (Holding Co.) and gave the company a “buy” rating in a research note on Saturday, June 3rd. Zacks Investment Research upgraded PNM Resources, Inc. (Holding Co.) from a “sell” rating to a “hold” rating in a research note on Wednesday, July 12th. Mizuho assumed coverage on PNM Resources, Inc. (Holding Co.) in a research note on Wednesday, April 19th. They issued an “underperform” rating and a $32.25 price objective for the company. Finally, Evercore ISI assumed coverage on PNM Resources, Inc. (Holding Co.) in a research note on Friday, March 31st. They issued an “in-line” rating and a $36.00 price objective for the company. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and three have issued a buy rating to the stock. PNM Resources, Inc. (Holding Co.) has a consensus rating of “Hold” and a consensus price target of $36.47.
PNM Resources, Inc. (PNM) traded up 1.40% during mid-day trading on Wednesday, hitting $39.80. 514,669 shares of the company’s stock traded hands. The stock has a market cap of $3.17 billion, a PE ratio of 22.87 and a beta of 0.32. The firm’s 50-day moving average price is $38.69 and its 200-day moving average price is $37.00. PNM Resources, Inc. has a one year low of $30.95 and a one year high of $40.10.
PNM Resources, Inc. (Holding Co.) (NYSE:PNM) last announced its quarterly earnings data on Friday, July 28th. The utilities provider reported $0.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.45 by $0.04. The business had revenue of $362.32 million during the quarter. PNM Resources, Inc. (Holding Co.) had a return on equity of 8.63% and a net margin of 10.05%. During the same quarter in the previous year, the business posted $0.40 EPS. On average, analysts forecast that PNM Resources, Inc. will post $1.82 EPS for the current fiscal year.
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In other PNM Resources, Inc. (Holding Co.) news, Director Norman P. Becker bought 2,500 shares of the firm’s stock in a transaction that occurred on Monday, June 5th. The stock was purchased at an average price of $38.98 per share, for a total transaction of $97,450.00. Following the completion of the purchase, the director now directly owns 5,732 shares in the company, valued at $223,433.36. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 1.26% of the stock is owned by insiders.
Large investors have recently modified their holdings of the stock. IFP Advisors Inc boosted its stake in shares of PNM Resources, Inc. (Holding Co.) by 211.8% in the first quarter. IFP Advisors Inc now owns 2,987 shares of the utilities provider’s stock worth $111,000 after buying an additional 2,029 shares in the last quarter. Meadow Creek Investment Management LLC boosted its stake in shares of PNM Resources, Inc. (Holding Co.) by 3.9% in the first quarter. Meadow Creek Investment Management LLC now owns 3,542 shares of the utilities provider’s stock worth $131,000 after buying an additional 132 shares in the last quarter. Glen Harbor Capital Management LLC boosted its stake in shares of PNM Resources, Inc. (Holding Co.) by 3.9% in the first quarter. Glen Harbor Capital Management LLC now owns 4,508 shares of the utilities provider’s stock worth $167,000 after buying an additional 168 shares in the last quarter. Envestnet Asset Management Inc. boosted its stake in shares of PNM Resources, Inc. (Holding Co.) by 45.1% in the first quarter. Envestnet Asset Management Inc. now owns 4,825 shares of the utilities provider’s stock worth $178,000 after buying an additional 1,499 shares in the last quarter. Finally, US Bancorp DE boosted its stake in shares of PNM Resources, Inc. (Holding Co.) by 23.7% in the second quarter. US Bancorp DE now owns 4,716 shares of the utilities provider’s stock worth $181,000 after buying an additional 905 shares in the last quarter. Institutional investors own 94.39% of the company’s stock.
About PNM Resources, Inc. (Holding Co.)
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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