PNM Resources (NYSE:PNM) Downgraded to Hold at ValuEngine

PNM Resources (NYSE:PNM) was downgraded by equities research analysts at ValuEngine from a “buy” rating to a “hold” rating in a research report issued on Wednesday, May 2nd.

Other equities research analysts have also issued research reports about the stock. Mizuho restated a “sell” rating and set a $30.50 price target on shares of PNM Resources in a research note on Thursday, January 11th. UBS began coverage on shares of PNM Resources in a research note on Friday, February 2nd. They issued a “sell” rating and a $36.00 price objective for the company. Royal Bank of Canada reiterated a “hold” rating and issued a $40.00 price objective on shares of PNM Resources in a research note on Thursday, February 1st. Zacks Investment Research upgraded shares of PNM Resources from a “sell” rating to a “hold” rating in a research note on Tuesday, February 13th. Finally, SunTrust Banks set a $34.00 price objective on shares of PNM Resources and gave the company a “hold” rating in a research note on Monday, February 12th. Four investment analysts have rated the stock with a sell rating, nine have issued a hold rating, one has given a buy rating and one has given a strong buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $38.91.

NYSE:PNM traded down $0.05 on Wednesday, hitting $37.75. The stock had a trading volume of 1,066 shares, compared to its average volume of 640,960. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.27 and a current ratio of 0.35. The firm has a market cap of $3.02 billion, a price-to-earnings ratio of 19.48, a price-to-earnings-growth ratio of 3.97 and a beta of 0.25. PNM Resources has a 1 year low of $37.67 and a 1 year high of $38.15.



PNM Resources (NYSE:PNM) last posted its quarterly earnings data on Tuesday, February 27th. The utilities provider reported $0.24 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.19 by $0.05. The firm had revenue of $332.61 million during the quarter, compared to analyst estimates of $330.25 million. PNM Resources had a net margin of 5.03% and a return on equity of 8.41%. During the same quarter last year, the business posted $0.34 EPS. sell-side analysts forecast that PNM Resources will post 1.87 earnings per share for the current year.

In other news, SVP Ronald N. Darnell sold 3,162 shares of PNM Resources stock in a transaction on Monday, March 5th. The shares were sold at an average price of $35.95, for a total transaction of $113,673.90. Following the completion of the sale, the senior vice president now directly owns 29,726 shares of the company’s stock, valued at approximately $1,068,649.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Norman P. Becker acquired 1,250 shares of the company’s stock in a transaction dated Tuesday, May 8th. The shares were bought at an average cost of $38.50 per share, with a total value of $48,125.00. The disclosure for this purchase can be found here. Insiders have sold a total of 7,616 shares of company stock valued at $272,457 over the last ninety days. 1.26% of the stock is currently owned by insiders.

A number of institutional investors have recently bought and sold shares of PNM. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in PNM Resources by 41.1% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,807 shares of the utilities provider’s stock worth $194,000 after purchasing an additional 1,399 shares during the last quarter. Parametrica Management Ltd bought a new stake in PNM Resources in the fourth quarter worth $200,000. Zeke Capital Advisors LLC bought a new stake in PNM Resources in the fourth quarter worth $201,000. Sciencast Management LP bought a new stake in PNM Resources in the fourth quarter worth $209,000. Finally, Vident Investment Advisory LLC bought a new stake in PNM Resources in the fourth quarter worth $215,000. 90.80% of the stock is owned by institutional investors and hedge funds.

About PNM Resources

PNM Resources, Inc, through its subsidiaries, engages in the energy and energy-related businesses in the United States. It operates through Public Service Company of New Mexico (PNM) and Texas-New Mexico Power Company (TNMP) segments. The PNM segment is primarily involved in the generation, transmission, and distribution of electricity.

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for PNM Resources (NYSE:PNM)

Receive News & Ratings for PNM Resources Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PNM Resources and related companies with MarketBeat.com's FREE daily email newsletter.



Leave a Reply