PNM Resources, Inc. (NYSE:PNM)‘s stock had its “hold” rating reissued by research analysts at SunTrust Banks, Inc. in a note issued to investors on Friday. They currently have a $38.00 price objective on the utilities provider’s stock. SunTrust Banks, Inc.’s target price indicates a potential downside of 12.44% from the company’s previous close.
Several other research analysts also recently commented on PNM. BidaskClub upgraded PNM Resources from a “buy” rating to a “strong-buy” rating in a report on Thursday, August 10th. Royal Bank of Canada downgraded PNM Resources from an “outperform” rating to a “sector perform” rating in a report on Friday, August 18th. Ladenburg Thalmann Financial Services downgraded PNM Resources from a “buy” rating to a “neutral” rating and set a $41.00 price objective on the stock. in a report on Friday, August 18th. Zacks Investment Research upgraded PNM Resources from a “hold” rating to a “buy” rating and set a $48.00 price objective on the stock in a report on Wednesday, November 1st. Finally, Evercore ISI downgraded PNM Resources from an “in-line” rating to an “underperform” rating and set a $37.50 price objective on the stock. in a report on Tuesday, September 26th. Four analysts have rated the stock with a sell rating, eight have issued a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. PNM Resources has an average rating of “Hold” and a consensus price target of $39.74.
PNM Resources (NYSE PNM) traded down $0.10 on Friday, reaching $43.40. The company’s stock had a trading volume of 415,700 shares, compared to its average volume of 589,691. The stock has a market cap of $3,464.93, a P/E ratio of 21.32, a P/E/G ratio of 4.28 and a beta of 0.36. PNM Resources has a one year low of $31.00 and a one year high of $43.80. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.53 and a quick ratio of 0.43.
PNM Resources (NYSE:PNM) last released its quarterly earnings data on Friday, October 27th. The utilities provider reported $0.93 EPS for the quarter, topping the consensus estimate of $0.85 by $0.08. The company had revenue of $419.90 million for the quarter, compared to the consensus estimate of $422.71 million. PNM Resources had a return on equity of 16.93% and a net margin of 18.65%. During the same period last year, the business posted $0.78 EPS. equities analysts anticipate that PNM Resources will post 1.86 EPS for the current year.
Several large investors have recently made changes to their positions in the company. Nordea Investment Management AB increased its holdings in shares of PNM Resources by 7.1% in the 3rd quarter. Nordea Investment Management AB now owns 44,593 shares of the utilities provider’s stock valued at $1,797,000 after acquiring an additional 2,937 shares during the period. American International Group Inc. increased its holdings in shares of PNM Resources by 2.8% in the 3rd quarter. American International Group Inc. now owns 216,486 shares of the utilities provider’s stock valued at $8,724,000 after acquiring an additional 5,806 shares during the period. Van ECK Associates Corp purchased a new position in shares of PNM Resources in the 3rd quarter valued at $374,000. 361 Capital LLC purchased a new position in shares of PNM Resources in the 3rd quarter valued at $2,034,000. Finally, SG Americas Securities LLC increased its holdings in shares of PNM Resources by 9.6% in the 3rd quarter. SG Americas Securities LLC now owns 27,187 shares of the utilities provider’s stock valued at $1,096,000 after acquiring an additional 2,382 shares during the period. Institutional investors and hedge funds own 93.67% of the company’s stock.
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.
Receive News & Ratings for PNM Resources Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PNM Resources Inc. and related companies with MarketBeat.com's FREE daily email newsletter.