Jefferies Group LLC restated their hold rating on shares of PNM Resources, Inc. (Holding Co.) (NYSE:PNM) in a research note issued to investors on Thursday. Jefferies Group LLC currently has a $43.00 price target on the utilities provider’s stock. Jefferies Group also issued estimates for PNM Resources, Inc. (Holding Co.)’s FY2018 earnings at $1.73 EPS and FY2019 earnings at $2.02 EPS.

A number of other research analysts also recently issued reports on PNM. BidaskClub upgraded PNM Resources, Inc. (Holding Co.) from a buy rating to a strong-buy rating in a research note on Thursday, August 10th. Royal Bank Of Canada set a $39.00 price objective on PNM Resources, Inc. (Holding Co.) and gave the company a buy rating in a research note on Saturday, June 3rd. Ladenburg Thalmann Financial Services downgraded PNM Resources, Inc. (Holding Co.) from a buy rating to a neutral rating and set a $41.00 price objective for the company. in a research note on Friday, August 18th. Argus reiterated a buy rating and set a $41.40 price objective (down from $43.00) on shares of PNM Resources, Inc. (Holding Co.) in a research note on Friday, August 11th. Finally, Zacks Investment Research upgraded PNM Resources, Inc. (Holding Co.) from a sell rating to a hold rating in a research note on Wednesday, August 2nd. One research analyst has rated the stock with a sell rating, nine have given a hold rating, two have given a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has an average rating of Hold and an average target price of $37.77.

PNM Resources, Inc. (NYSE:PNM) remained flat at $42.40 during mid-day trading on Thursday. The stock had a trading volume of 123,106 shares. PNM Resources, Inc. has a 52 week low of $30.95 and a 52 week high of $42.85. The stock’s 50 day moving average is $40.58 and its 200-day moving average is $38.25. The firm has a market cap of $3.38 billion, a P/E ratio of 24.37 and a beta of 0.32.

PNM Resources, Inc. (Holding Co.) (NYSE:PNM) last announced its quarterly earnings data on Friday, July 28th. The utilities provider reported $0.49 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.45 by $0.04. The company had revenue of $362.32 million during the quarter. PNM Resources, Inc. (Holding Co.) had a return on equity of 8.57% and a net margin of 10.05%. During the same quarter last year, the firm posted $0.40 earnings per share. On average, analysts predict that PNM Resources, Inc. will post $1.85 EPS for the current fiscal year.

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The firm also recently declared a quarterly dividend, which was paid on Monday, August 14th. Investors of record on Monday, August 7th were issued a $0.2425 dividend. The ex-dividend date of this dividend was Thursday, August 3rd. This represents a $0.97 dividend on an annualized basis and a yield of 2.29%. PNM Resources, Inc. (Holding Co.)’s dividend payout ratio is presently 55.43%.

In related news, SVP Patrick V. Apodaca sold 5,333 shares of the business’s stock in a transaction that occurred on Wednesday, August 2nd. The stock was sold at an average price of $40.43, for a total value of $215,613.19. Following the transaction, the senior vice president now directly owns 65,009 shares of the company’s stock, valued at approximately $2,628,313.87. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, SVP Ronald N. Darnell sold 5,000 shares of the business’s stock in a transaction that occurred on Friday, August 11th. The stock was sold at an average price of $40.97, for a total value of $204,850.00. Following the completion of the transaction, the senior vice president now directly owns 24,053 shares in the company, valued at $985,451.41. The disclosure for this sale can be found here. 1.26% of the stock is currently owned by insiders.

Several hedge funds have recently modified their holdings of the company. IFP Advisors Inc boosted its stake in shares of PNM Resources, Inc. (Holding Co.) by 211.8% in the first quarter. IFP Advisors Inc now owns 2,987 shares of the utilities provider’s stock valued at $111,000 after buying an additional 2,029 shares during the period. Meadow Creek Investment Management LLC boosted its stake in shares of PNM Resources, Inc. (Holding Co.) by 3.9% in the first quarter. Meadow Creek Investment Management LLC now owns 3,542 shares of the utilities provider’s stock valued at $131,000 after buying an additional 132 shares during the period. Glen Harbor Capital Management LLC boosted its stake in shares of PNM Resources, Inc. (Holding Co.) by 3.9% in the first quarter. Glen Harbor Capital Management LLC now owns 4,508 shares of the utilities provider’s stock valued at $167,000 after buying an additional 168 shares during the period. Flinton Capital Management LLC boosted its stake in shares of PNM Resources, Inc. (Holding Co.) by 71.4% in the second quarter. Flinton Capital Management LLC now owns 4,416 shares of the utilities provider’s stock valued at $169,000 after buying an additional 1,840 shares during the period. Finally, Envestnet Asset Management Inc. boosted its stake in shares of PNM Resources, Inc. (Holding Co.) by 45.1% in the first quarter. Envestnet Asset Management Inc. now owns 4,825 shares of the utilities provider’s stock valued at $178,000 after buying an additional 1,499 shares during the period. 95.15% of the stock is currently owned by institutional investors and hedge funds.

PNM Resources, Inc. (Holding Co.) 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.

Analyst Recommendations for PNM Resources, Inc. (Holding Co.) (NYSE:PNM)

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