PNM Resources (PNM) Given a $38.00 Price Target at SunTrust Banks
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.
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.
COPYRIGHT VIOLATION WARNING: This story was first published by The Cerbat Gem and is the property of of The Cerbat Gem. If you are accessing this story on another website, it was copied illegally and reposted in violation of United States and international copyright and trademark law. The correct version of this story can be accessed at https://www.thecerbatgem.com/2018/01/07/pnm-resources-pnm-given-a-38-00-price-target-at-suntrust-banks.html.
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.
Receive News & Stock Ratings for PNM Resources Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PNM Resources and related stocks with our FREE daily email newsletter.