PNM Resources, Inc. (Holding Co.) (NYSE:PNM) was downgraded by equities researchers at Evercore ISI from an “in-line” rating to an “underperform” rating in a note issued to investors on Tuesday. They currently have a $37.50 price target on the utilities provider’s stock. Evercore ISI’s price target would suggest a potential downside of 8.98% from the company’s previous close.

Other equities analysts have also recently issued research reports about the company. 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 report on Saturday, June 3rd. Argus reissued a “buy” rating and issued a $41.40 price objective (down previously from $43.00) on shares of PNM Resources, Inc. (Holding Co.) in a report on Friday, August 11th. ValuEngine raised PNM Resources, Inc. (Holding Co.) from a “hold” rating to a “buy” rating in a report on Thursday, September 7th. Zacks Investment Research raised PNM Resources, Inc. (Holding Co.) from a “sell” rating to a “hold” rating in a report on Wednesday, July 12th. Finally, BidaskClub cut PNM Resources, Inc. (Holding Co.) from a “buy” rating to a “hold” rating in a report on Saturday, July 1st. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company’s stock. PNM Resources, Inc. (Holding Co.) currently has a consensus rating of “Hold” and a consensus target price of $38.82.

PNM Resources, Inc. (PNM) opened at 41.20 on Tuesday. The company has a market cap of $3.28 billion, a P/E ratio of 23.68 and a beta of 0.32. PNM Resources, Inc. has a 1-year low of $30.95 and a 1-year high of $43.05. The stock has a 50 day moving average price of $41.94 and a 200 day moving average price of $38.87.

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

TRADEMARK VIOLATION NOTICE: “Evercore ISI Downgrades PNM Resources, Inc. (Holding Co.) (PNM) to Underperform” was first reported by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are accessing this news story on another site, it was illegally stolen and reposted in violation of US and international trademark and copyright laws. The original version of this news story can be viewed at https://www.thecerbatgem.com/2017/09/28/evercore-isi-downgrades-pnm-resources-inc-holding-co-pnm-to-underperform.html.

In related news, SVP Ronald N. Darnell sold 5,000 shares of the company’s stock in a transaction dated 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 owns 24,053 shares of the company’s stock, valued at approximately $985,451.41. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Patrick V. Apodaca sold 5,333 shares of the company’s stock in a transaction dated Wednesday, August 2nd. The stock was sold at an average price of $40.43, for a total value of $215,613.19. Following the completion of 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 disclosure for this sale can be found here. Corporate insiders own 1.26% of the company’s stock.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PNM. Meadow Creek Investment Management LLC raised its holdings 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 during the period. IFP Advisors Inc raised its holdings in PNM Resources, Inc. (Holding Co.) by 42.2% in the 2nd quarter. IFP Advisors Inc now owns 4,247 shares of the utilities provider’s stock worth $162,000 after purchasing an additional 1,260 shares during the period. Flinton Capital Management LLC raised its holdings 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 during the period. Envestnet Asset Management Inc. raised its holdings 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 during the period. Finally, US Bancorp DE raised its holdings in PNM Resources, Inc. (Holding Co.) by 23.7% in the 2nd quarter. US Bancorp DE now owns 4,716 shares of the utilities provider’s stock worth $181,000 after purchasing an additional 905 shares during the period. 94.31% of the stock is owned by institutional investors.

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)

Receive News & Stock Ratings for PNM Resources Inc. (Holding Co.) Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PNM Resources Inc. (Holding Co.) and related stocks with our FREE daily email newsletter.