PNM Resources Inc. (PNM) Upgraded to “Buy” by Williams Capital
PNM has been the topic of several other reports. SunTrust Banks Inc. cut their price target on shares of PNM Resources from $35.00 to $34.00 and set a neutral rating on the stock in a report on Monday, August 29th. Jefferies Group raised shares of PNM Resources from a hold rating to a buy rating in a research report on Tuesday, September 20th. Zacks Investment Research raised shares of PNM Resources from a sell rating to a hold rating in a research report on Thursday, September 15th. Finally, TheStreet cut shares of PNM Resources from a buy rating to a hold rating in a research report on Friday, August 26th. Three investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The stock presently has a consensus rating of Buy and a consensus price target of $36.21.
Shares of PNM Resources (NYSE:PNM) traded down 0.03% during midday trading on Tuesday, hitting $31.59. 129,555 shares of the company traded hands. The stock has a market capitalization of $2.52 billion, a P/E ratio of 347.14 and a beta of 0.38. PNM Resources has a 52 week low of $26.56 and a 52 week high of $36.15. The company has a 50-day moving average price of $32.71 and a 200-day moving average price of $33.16.
PNM Resources (NYSE:PNM) last issued its quarterly earnings results on Monday, August 8th. The company reported $0.40 EPS for the quarter, beating the consensus estimate of $0.39 by $0.01. The company had revenue of $315.39 million for the quarter, compared to the consensus estimate of $379 million. PNM Resources had a net margin of 0.54% and a return on equity of 7.00%. The firm’s revenue was down 10.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.44 EPS. Analysts anticipate that PNM Resources will post $1.58 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 14th. Investors of record on Monday, October 31st will be paid a dividend of $0.22 per share. The ex-dividend date of this dividend is Thursday, October 27th. This represents a $0.88 annualized dividend and a dividend yield of 2.78%. PNM Resources’s dividend payout ratio (DPR) is presently 1,100.00%.
Several hedge funds and other institutional investors have recently bought and sold shares of PNM. Creative Planning raised its position in PNM Resources by 119.6% in the second quarter. Creative Planning now owns 2,875 shares of the company’s stock valued at $102,000 after buying an additional 1,566 shares during the period. Meeder Asset Management Inc. raised its position in PNM Resources by 514.3% in the first quarter. Meeder Asset Management Inc. now owns 3,686 shares of the company’s stock valued at $124,000 after buying an additional 3,086 shares during the period. Tower Research Capital LLC TRC purchased a new position in PNM Resources during the second quarter valued at approximately $163,000. LS Investment Advisors LLC raised its position in PNM Resources by 72.6% in the second quarter. LS Investment Advisors LLC now owns 4,754 shares of the company’s stock valued at $168,000 after buying an additional 2,000 shares during the period. Finally, Boothbay Fund Management LLC purchased a new position in PNM Resources during the first quarter valued at approximately $200,000. Hedge funds and other institutional investors own 92.60% of the company’s stock.
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 and Subsidiaries (PNM) and Texas-New Mexico Power Company and Subsidiaries (TNMP).
Receive News & Stock Ratings for PNM Resources Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PNM Resources Inc. and related stocks with our FREE daily email newsletter.