PNM Resources, Inc. (NYSE:PNM) Given Average Rating of “Hold” by Analysts

Shares of PNM Resources, Inc. (NYSE:PNM) have earned an average rating of “Hold” from the five brokerages that are currently covering the company, MarketBeat Ratings reports. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $43.40.

PNM has been the topic of several research reports. Barclays lifted their price target on shares of PNM Resources from $40.00 to $43.00 and gave the company an “overweight” rating in a report on Monday, April 15th. StockNews.com raised shares of PNM Resources from a “sell” rating to a “hold” rating in a report on Tuesday. Finally, Evercore ISI initiated coverage on shares of PNM Resources in a report on Thursday, May 30th. They set an “in-line” rating and a $38.00 price target on the stock.

PNM Resources Price Performance

PNM stock opened at $36.93 on Friday. The company has a quick ratio of 0.27, a current ratio of 0.37 and a debt-to-equity ratio of 1.81. PNM Resources has a 12 month low of $34.63 and a 12 month high of $45.94. The firm has a market cap of $3.33 billion, a P/E ratio of 40.58 and a beta of 0.38. The company’s 50-day moving average price is $37.34 and its two-hundred day moving average price is $37.77.

PNM Resources (NYSE:PNM) last released its earnings results on Tuesday, April 30th. The utilities provider reported $0.41 EPS for the quarter, missing the consensus estimate of $0.68 by ($0.27). PNM Resources had a net margin of 4.38% and a return on equity of 9.91%. The firm had revenue of $436.90 million during the quarter, compared to the consensus estimate of $531.00 million. During the same period in the prior year, the business earned $0.55 earnings per share. PNM Resources’s quarterly revenue was down 19.7% compared to the same quarter last year. On average, analysts anticipate that PNM Resources will post 2.7 earnings per share for the current fiscal year.

Institutional Investors Weigh In On PNM Resources

Several hedge funds have recently added to or reduced their stakes in PNM. Inspire Investing LLC lifted its position in shares of PNM Resources by 3.1% in the 1st quarter. Inspire Investing LLC now owns 9,530 shares of the utilities provider’s stock worth $359,000 after purchasing an additional 290 shares during the period. New York State Teachers Retirement System lifted its position in shares of PNM Resources by 0.3% in the 1st quarter. New York State Teachers Retirement System now owns 87,439 shares of the utilities provider’s stock worth $3,291,000 after purchasing an additional 300 shares during the period. Xponance Inc. lifted its position in shares of PNM Resources by 2.9% in the 4th quarter. Xponance Inc. now owns 12,598 shares of the utilities provider’s stock worth $524,000 after purchasing an additional 356 shares during the period. IFM Investors Pty Ltd lifted its position in shares of PNM Resources by 3.3% in the 1st quarter. IFM Investors Pty Ltd now owns 11,877 shares of the utilities provider’s stock worth $447,000 after purchasing an additional 376 shares during the period. Finally, Fortis Group Advisors LLC lifted its position in shares of PNM Resources by 100.0% in the 4th quarter. Fortis Group Advisors LLC now owns 800 shares of the utilities provider’s stock worth $33,000 after purchasing an additional 400 shares during the period. 91.68% of the stock is currently owned by institutional investors and hedge funds.

PNM Resources Company Profile

PNM Resources, Inc, through its subsidiaries, provides electricity and electric services 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 engages in the generation, transmission, and distribution of electricity.