SunTrust Banks set a $38.00 price target on PNM Resources (NYSE:PNM) in a report published on Wednesday. The brokerage currently has a hold rating on the utilities provider’s stock.

PNM has been the subject of several other research reports. Zacks Investment Research cut shares of PNM Resources from a buy rating to a hold rating in a research report on Tuesday, December 26th. Williams Capital cut shares of PNM Resources from a hold rating to a sell rating and set a $38.00 price target for the company. in a research report on Monday, September 18th. Mizuho reaffirmed a sell rating and set a $35.00 price objective on shares of PNM Resources in a research report on Monday, October 30th. Bank of America initiated coverage on shares of PNM Resources in a research report on Tuesday, October 24th. They set an underperform rating and a $38.00 price objective for the company. Finally, Evercore ISI cut shares of PNM Resources from an in-line rating to an underperform rating and set a $37.50 price objective for the company. in a research report on Tuesday, September 26th. Five equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company’s stock. PNM Resources has a consensus rating of Hold and an average target price of $39.74.

Shares of PNM Resources (NYSE PNM) traded down $0.05 during mid-day trading on Wednesday, reaching $39.40. 440,655 shares of the company’s stock traded hands, compared to its average volume of 679,459. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.53 and a quick ratio of 0.43. PNM Resources has a 52 week low of $33.35 and a 52 week high of $46.00. The stock has a market cap of $3,138.37, a PE ratio of 19.31, a PEG ratio of 4.11 and a beta of 0.36.

PNM Resources (NYSE:PNM) last issued its quarterly earnings results on Friday, October 27th. The utilities provider reported $0.93 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.85 by $0.08. PNM Resources had a net margin of 11.27% and a return on equity of 9.18%. The company had revenue of $419.90 million during the quarter, compared to analysts’ expectations of $422.71 million. During the same quarter last year, the company posted $0.78 EPS. sell-side analysts predict that PNM Resources will post 1.86 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, February 1st. Stockholders of record on Thursday, January 18th will be given a dividend of $0.265 per share. This is a boost from PNM Resources’s previous quarterly dividend of $0.24. This represents a $1.06 annualized dividend and a dividend yield of 2.69%. The ex-dividend date is Wednesday, January 17th. PNM Resources’s payout ratio is 48.74%.

Institutional investors have recently added to or reduced their stakes in the company. Meeder Asset Management Inc. purchased a new stake in shares of PNM Resources during the 3rd quarter worth $170,000. Flinton Capital Management LLC raised its stake in PNM Resources by 71.4% during the 2nd quarter. Flinton Capital Management LLC now owns 4,416 shares of the utilities provider’s stock worth $169,000 after acquiring an additional 1,840 shares in the last quarter. World Asset Management Inc acquired a new stake in PNM Resources during the 3rd quarter worth $206,000. Neuberger Berman Group LLC acquired a new stake in PNM Resources during the 2nd quarter worth $209,000. Finally, LSV Asset Management acquired a new stake in PNM Resources during the 2nd quarter worth $244,000. 92.21% of the stock is owned by institutional investors and hedge funds.

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About PNM Resources

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 (NYSE:PNM)

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