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

Shares of PNM Resources, Inc. (NYSE:PNM) have been assigned a consensus rating of “Moderate Buy” from the five ratings firms that are covering the stock, Marketbeat.com reports. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $46.80.

A number of equities research analysts recently issued reports on PNM shares. Wells Fargo & Company upgraded shares of PNM Resources from an “equal weight” rating to an “overweight” rating and set a $44.00 target price for the company in a report on Wednesday, January 3rd. Mizuho downgraded shares of PNM Resources from a “buy” rating to a “neutral” rating and set a $41.00 price objective for the company. in a research note on Wednesday, January 3rd. TheStreet downgraded shares of PNM Resources from a “b-” rating to a “c+” rating in a research note on Thursday, January 4th. StockNews.com downgraded shares of PNM Resources from a “hold” rating to a “sell” rating in a research note on Wednesday, January 17th. Finally, Barclays boosted their price objective on shares of PNM Resources from $40.00 to $43.00 and gave the stock an “overweight” rating in a research note on Monday.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in PNM. Great West Life Assurance Co. Can raised its holdings in shares of PNM Resources by 8.2% during the first quarter. Great West Life Assurance Co. Can now owns 46,260 shares of the utilities provider’s stock worth $2,263,000 after purchasing an additional 3,493 shares during the period. Yousif Capital Management LLC grew its position in PNM Resources by 1.6% in the 1st quarter. Yousif Capital Management LLC now owns 45,120 shares of the utilities provider’s stock valued at $2,151,000 after buying an additional 724 shares in the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp bought a new position in PNM Resources in the 1st quarter valued at about $5,387,000. Sei Investments Co. boosted its position in shares of PNM Resources by 114.7% during the 1st quarter. Sei Investments Co. now owns 238,673 shares of the utilities provider’s stock valued at $11,378,000 after purchasing an additional 127,483 shares in the last quarter. Finally, Allianz Asset Management GmbH boosted its position in shares of PNM Resources by 0.8% during the 1st quarter. Allianz Asset Management GmbH now owns 391,228 shares of the utilities provider’s stock valued at $18,650,000 after purchasing an additional 2,959 shares in the last quarter. 91.68% of the stock is currently owned by hedge funds and other institutional investors.

PNM Resources Price Performance

PNM Resources stock opened at $36.11 on Friday. PNM Resources has a 1 year low of $34.63 and a 1 year high of $49.08. The firm has a 50 day moving average price of $37.16 and a 200 day moving average price of $39.75. The company has a market cap of $3.26 billion, a price-to-earnings ratio of 35.07, a PEG ratio of 9.94 and a beta of 0.35. The company has a debt-to-equity ratio of 1.77, a quick ratio of 0.31 and a current ratio of 0.39.

PNM Resources (NYSE:PNM) last released its earnings results on Tuesday, February 6th. The utilities provider reported $0.18 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.14 by $0.04. PNM Resources had a net margin of 4.54% and a return on equity of 10.51%. The firm had revenue of $412.11 million during the quarter, compared to the consensus estimate of $705.05 million. During the same period in the previous year, the firm earned $0.15 earnings per share. Sell-side analysts predict that PNM Resources will post 2.7 earnings per share for the current year.

PNM Resources Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 10th. Stockholders of record on Friday, April 26th will be paid a $0.387 dividend. The ex-dividend date of this dividend is Thursday, April 25th. This represents a $1.55 annualized dividend and a dividend yield of 4.29%. PNM Resources’s dividend payout ratio (DPR) is presently 150.49%.

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.