PNM Resources, Inc. (Holding Co.) (NYSE:PNM) was upgraded by ValuEngine from a “hold” rating to a “buy” rating in a research note issued to investors on Thursday.

Several other research analysts also recently weighed in on the stock. Zacks Investment Research downgraded shares of PNM Resources, Inc. (Holding Co.) from a “hold” rating to a “sell” rating in a report on Thursday, July 20th. BidaskClub downgraded shares of PNM Resources, Inc. (Holding Co.) from a “buy” rating to a “hold” rating in a report on Saturday, July 1st. Jefferies Group LLC reaffirmed a “hold” rating and issued a $38.00 target price on shares of PNM Resources, Inc. (Holding Co.) in a report on Friday, July 21st. Argus reaffirmed a “buy” rating and issued a $41.40 target price (down previously from $43.00) on shares of PNM Resources, Inc. (Holding Co.) in a report on Friday, August 11th. Finally, Ladenburg Thalmann Financial Services downgraded shares of PNM Resources, Inc. (Holding Co.) from a “buy” rating to a “neutral” rating and set a $41.00 target price for the company. in a report on Friday, August 18th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $37.77.

PNM Resources, Inc. (NYSE PNM) opened at 42.55 on Thursday. The stock has a 50 day moving average price of $41.35 and a 200-day moving average price of $38.52. PNM Resources, Inc. has a 12-month low of $30.95 and a 12-month high of $42.95. The company has a market capitalization of $3.39 billion, a price-to-earnings ratio of 24.45 and a beta of 0.32.

PNM Resources, Inc. (Holding Co.) (NYSE:PNM) last issued its earnings results on Friday, July 28th. The utilities provider reported $0.49 earnings per share for the quarter, topping the 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 net margin of 10.05% and a return on equity of 8.57%. During the same period in the prior year, the company posted $0.40 EPS. Equities analysts predict that PNM Resources, Inc. will post $1.85 EPS for the current fiscal year.

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In other PNM Resources, Inc. (Holding Co.) news, SVP Patrick V. Apodaca sold 5,333 shares of the business’s stock in a transaction on Wednesday, August 2nd. The shares were sold at an average price of $40.43, for a total value of $215,613.19. Following the sale, the senior vice president now owns 65,009 shares in the company, valued at approximately $2,628,313.87. The sale was disclosed in a 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 on Friday, August 11th. The stock was sold at an average price of $40.97, for a total transaction of $204,850.00. Following the completion of the sale, the senior vice president now owns 24,053 shares in the company, valued at approximately $985,451.41. The disclosure for this sale can be found here. 1.26% of the stock is owned by insiders.

Hedge funds have recently made changes to their positions in the business. IFP Advisors Inc lifted its stake in PNM Resources, Inc. (Holding Co.) by 211.8% in the 1st quarter. IFP Advisors Inc now owns 2,987 shares of the utilities provider’s stock worth $111,000 after purchasing an additional 2,029 shares in the last quarter. Meadow Creek Investment Management LLC lifted its stake in PNM Resources, Inc. (Holding Co.) by 3.9% in the 1st quarter. Meadow Creek Investment Management LLC now owns 3,542 shares of the utilities provider’s stock worth $131,000 after purchasing an additional 132 shares in the last quarter. Glen Harbor Capital Management LLC lifted its stake in PNM Resources, Inc. (Holding Co.) by 3.9% in the 1st quarter. Glen Harbor Capital Management LLC now owns 4,508 shares of the utilities provider’s stock worth $167,000 after purchasing an additional 168 shares in the last quarter. Flinton Capital Management LLC lifted its stake in PNM Resources, Inc. (Holding Co.) by 71.4% in the 2nd quarter. Flinton Capital Management LLC now owns 4,416 shares of the utilities provider’s stock worth $169,000 after purchasing an additional 1,840 shares in the last quarter. Finally, Envestnet Asset Management Inc. lifted its stake in PNM Resources, Inc. (Holding Co.) by 45.1% in the 1st quarter. Envestnet Asset Management Inc. now owns 4,825 shares of the utilities provider’s stock worth $178,000 after purchasing an additional 1,499 shares in the last quarter. Institutional investors and hedge funds own 95.15% of the company’s stock.

About PNM Resources, Inc. (Holding Co.)

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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