PNM Resources (PNM) Given a $36.00 Price Target by SunTrust Banks Analysts

PNM Resources (NYSE:PNM) has been assigned a $36.00 price objective by equities researchers at SunTrust Banks in a note issued to investors on Tuesday. The firm currently has a “hold” rating on the utilities provider’s stock. SunTrust Banks’ target price would suggest a potential upside of 1.27% from the company’s current price.

A number of other research firms also recently weighed in on PNM. Zacks Investment Research downgraded PNM Resources from a “hold” rating to a “sell” rating in a report on Tuesday, January 2nd. Mizuho reissued a “sell” rating and set a $30.50 target price on shares of PNM Resources in a report on Thursday, January 11th. Williams Capital downgraded PNM Resources from a “hold” rating to a “sell” rating and set a $38.00 target price for the company. in a report on Monday, September 18th. Evercore ISI downgraded PNM Resources from an “in-line” rating to an “underperform” rating and set a $37.50 target price for the company. in a report on Tuesday, September 26th. Finally, ValuEngine cut PNM Resources from a “buy” rating to a “hold” rating in a research report on Friday, September 22nd. Five investment analysts have rated the stock with a sell rating, eight have given a hold rating, one has given a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $39.20.

Shares of PNM Resources (PNM) opened at $35.55 on Tuesday. PNM Resources has a twelve month low of $33.35 and a twelve month high of $46.00. The company has a current ratio of 0.53, a quick ratio of 0.43 and a debt-to-equity ratio of 1.25. The firm has a market capitalization of $2,843.63, a price-to-earnings ratio of 17.86, a PEG ratio of 3.56 and a beta of 0.36.

PNM Resources (NYSE:PNM) last posted its earnings results on Friday, October 27th. The utilities provider reported $0.93 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.85 by $0.08. PNM Resources had a return on equity of 9.18% and a net margin of 11.27%. The company had revenue of $419.90 million during the quarter, compared to the consensus estimate of $422.71 million. During the same quarter last year, the firm earned $0.78 earnings per share. research analysts forecast that PNM Resources will post 1.86 EPS for the current fiscal year.

Several hedge funds and other institutional investors have recently modified their holdings of the stock. New York State Common Retirement Fund increased its position in shares of PNM Resources by 0.3% in the second quarter. New York State Common Retirement Fund now owns 137,079 shares of the utilities provider’s stock worth $5,243,000 after purchasing an additional 395 shares during the period. Mutual of America Capital Management LLC increased its position in shares of PNM Resources by 0.3% in the second quarter. Mutual of America Capital Management LLC now owns 178,577 shares of the utilities provider’s stock worth $6,831,000 after purchasing an additional 458 shares during the period. Thrivent Financial For Lutherans increased its position in shares of PNM Resources by 0.3% in the second quarter. Thrivent Financial For Lutherans now owns 413,315 shares of the utilities provider’s stock worth $15,809,000 after purchasing an additional 1,120 shares during the period. Bessemer Group Inc. increased its position in shares of PNM Resources by 15.7% in the third quarter. Bessemer Group Inc. now owns 11,059 shares of the utilities provider’s stock worth $446,000 after purchasing an additional 1,500 shares during the period. Finally, Flinton Capital Management LLC increased its position in shares of PNM Resources by 71.4% in the second quarter. Flinton Capital Management LLC now owns 4,416 shares of the utilities provider’s stock worth $169,000 after purchasing an additional 1,840 shares during the period. Institutional investors own 92.46% of the company’s stock.

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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 (PNM) and Texas-New Mexico Power Company (TNMP). It operates in three segments: PNM, TNMP, and Corporate and Other.

Analyst Recommendations for PNM Resources (NYSE:PNM)

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