ValuEngine downgraded shares of PNM Resources, Inc. (Holding Co.) (NYSE:PNM) from a buy rating to a hold rating in a research note published on Friday.

Several other equities analysts have also recently commented on PNM. Royal Bank Of Canada set a $39.00 target price on shares of PNM Resources, Inc. (Holding Co.) and gave the company a buy rating in a research note on Saturday, June 3rd. BidaskClub cut shares of PNM Resources, Inc. (Holding Co.) from a buy rating to a hold rating in a research note on Saturday, July 1st. Zacks Investment Research raised shares of PNM Resources, Inc. (Holding Co.) from a sell rating to a hold rating in a research note on Wednesday, July 12th. Jefferies Group LLC reissued a hold rating and set a $38.00 target price on shares of PNM Resources, Inc. (Holding Co.) in a research note on Friday, July 21st. Finally, Argus reissued a buy rating and set a $41.40 target price (down previously from $43.00) on shares of PNM Resources, Inc. (Holding Co.) in a research note on Friday, August 11th. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. The stock currently has a consensus rating of Hold and an average target price of $38.33.

PNM Resources, Inc. (NYSE:PNM) traded down 0.72% during mid-day trading on Friday, reaching $41.30. 453,599 shares of the company were exchanged. The company’s 50 day moving average price is $41.94 and its 200-day moving average price is $38.87. PNM Resources, Inc. has a 12 month low of $30.95 and a 12 month high of $43.05. The stock has a market capitalization of $3.29 billion, a P/E ratio of 23.74 and a beta of 0.32.

PNM Resources, Inc. (Holding Co.) (NYSE:PNM) last released its earnings results on Friday, July 28th. The utilities provider reported $0.49 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.45 by $0.04. The firm had revenue of $362.32 million for 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 previous year, the business posted $0.40 EPS. On average, equities analysts expect that PNM Resources, Inc. will post $1.85 earnings per share for the current fiscal year.

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The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 14th. Stockholders of record on Monday, October 30th will be given a dividend of $0.2425 per share. The ex-dividend date of this dividend is Friday, October 27th. This represents a $0.97 annualized dividend and a dividend yield of 2.35%. PNM Resources, Inc. (Holding Co.)’s dividend payout ratio (DPR) is 55.43%.

In other PNM Resources, Inc. (Holding Co.) news, SVP Ronald N. Darnell sold 5,000 shares of the firm’s stock in a transaction dated Friday, August 11th. The shares were 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 sale was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Patrick V. Apodaca sold 5,333 shares of the firm’s stock in a transaction dated Wednesday, August 2nd. The stock was sold at an average price of $40.43, for a total transaction of $215,613.19. Following the completion of the transaction, the senior vice president now owns 65,009 shares of the company’s stock, valued at $2,628,313.87. The disclosure for this sale can be found here. Company insiders own 1.26% of the company’s stock.

Institutional investors and hedge funds have recently made changes to their positions in the business. Edge Asset Management Inc. boosted its holdings in shares of PNM Resources, Inc. (Holding Co.) by 5.1% in the first quarter. Edge Asset Management Inc. now owns 678,133 shares of the utilities provider’s stock worth $25,090,000 after buying an additional 32,788 shares during the period. Citadel Advisors LLC acquired a new position in shares of PNM Resources, Inc. (Holding Co.) in the first quarter worth about $2,415,000. Goldman Sachs Group Inc. boosted its holdings in shares of PNM Resources, Inc. (Holding Co.) by 5.7% in the first quarter. Goldman Sachs Group Inc. now owns 2,723,894 shares of the utilities provider’s stock worth $100,784,000 after buying an additional 147,047 shares during the period. Baird Financial Group Inc. acquired a new position in shares of PNM Resources, Inc. (Holding Co.) in the first quarter worth about $507,000. Finally, Massachusetts Financial Services Co. MA boosted its holdings in shares of PNM Resources, Inc. (Holding Co.) by 38.8% in the first quarter. Massachusetts Financial Services Co. MA now owns 532,511 shares of the utilities provider’s stock worth $19,703,000 after buying an additional 148,956 shares during the period. Institutional investors own 94.31% 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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