PNM Resources Inc (NYSE:PNM) CFO Charles N. Eldred sold 1,500 shares of the stock in a transaction that occurred on Friday, March 2nd. The stock was sold at an average price of $35.55, for a total value of $53,325.00. Following the sale, the chief financial officer now owns 115,888 shares in the company, valued at $4,119,818.40. The sale was disclosed in a filing with the SEC, which is available at the SEC website.
Shares of PNM Resources Inc (PNM) traded up $0.40 during trading on Wednesday, hitting $36.55. The stock had a trading volume of 383,301 shares, compared to its average volume of 756,536. The firm has a market capitalization of $2,883.46, a PE ratio of 36.55, a PEG ratio of 3.38 and a beta of 0.34. The company has a current ratio of 0.35, a quick ratio of 0.27 and a debt-to-equity ratio of 1.24. PNM Resources Inc has a 1-year low of $33.75 and a 1-year high of $46.00.
PNM Resources (NYSE:PNM) last released its quarterly earnings data on Tuesday, February 27th. The utilities provider reported $0.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.19 by $0.05. The firm had revenue of $332.61 million during the quarter, compared to analysts’ expectations of $330.25 million. PNM Resources had a return on equity of 8.71% and a net margin of 5.55%. During the same quarter last year, the firm earned $0.34 earnings per share. research analysts anticipate that PNM Resources Inc will post 1.86 earnings per share for the current fiscal year.
Several research firms recently commented on PNM. Zacks Investment Research cut PNM Resources from a “buy” rating to a “hold” rating in a research report on Tuesday, December 26th. SunTrust Banks reiterated a “hold” rating and set a $39.00 price target on shares of PNM Resources in a research report on Tuesday, December 26th. Mizuho reiterated a “sell” rating and set a $30.50 price target on shares of PNM Resources in a research report on Thursday, January 11th. UBS Group started coverage on PNM Resources in a research report on Friday, February 2nd. They set a “sell” rating and a $36.00 price target on the stock. Finally, Royal Bank of Canada reiterated a “hold” rating and set a $40.00 price target on shares of PNM Resources in a research report on Thursday, February 1st. Four research analysts have rated the stock with a sell rating, eight have assigned a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. PNM Resources presently has a consensus rating of “Hold” and an average price target of $38.66.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in PNM. Segall Bryant & Hamill LLC raised its holdings in PNM Resources by 8.5% during the fourth quarter. Segall Bryant & Hamill LLC now owns 111,932 shares of the utilities provider’s stock valued at $4,528,000 after buying an additional 8,740 shares in the last quarter. MetLife Investment Advisors LLC bought a new position in PNM Resources during the fourth quarter valued at about $3,510,000. Magellan Asset Management Ltd increased its stake in shares of PNM Resources by 5.7% in the fourth quarter. Magellan Asset Management Ltd now owns 53,773 shares of the utilities provider’s stock worth $2,175,000 after purchasing an additional 2,904 shares during the period. Vident Investment Advisory LLC bought a new position in shares of PNM Resources in the fourth quarter worth about $215,000. Finally, Dean Capital Management bought a new position in shares of PNM Resources in the fourth quarter worth about $4,533,000. 91.80% of the stock is owned by hedge funds and other institutional investors.
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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.
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