Brokerages Set PNM Resources, Inc. (NYSE:PNM) Target Price at $50.00

Shares of PNM Resources, Inc. (NYSE:PNM) have been given a consensus recommendation of “Hold” by the nine analysts that are currently covering the stock, MarketBeat.com reports. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and one has assigned a buy rating to the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $50.00.

A number of equities analysts have recently weighed in on PNM shares. Williams Capital reissued a “hold” rating on shares of PNM Resources in a research report on Friday, April 23rd. Citigroup restated a “neutral” rating on shares of PNM Resources in a research note on Tuesday, March 9th.

Shares of PNM Resources stock opened at $49.15 on Friday. The company has a current ratio of 0.22, a quick ratio of 0.18 and a debt-to-equity ratio of 1.06. The firm has a market capitalization of $4.22 billion, a price-to-earnings ratio of 19.27, a P/E/G ratio of 4.09 and a beta of 0.52. The firm has a 50 day moving average of $49.31. PNM Resources has a fifty-two week low of $36.93 and a fifty-two week high of $50.25.

PNM Resources (NYSE:PNM) last issued its quarterly earnings results on Friday, April 30th. The utilities provider reported $0.32 earnings per share for the quarter, beating analysts’ consensus estimates of $0.19 by $0.13. PNM Resources had a net margin of 13.26% and a return on equity of 10.10%. The business had revenue of $364.70 million during the quarter, compared to analyst estimates of $388.27 million. During the same quarter last year, the business posted $0.18 earnings per share. PNM Resources’s revenue for the quarter was up 9.3% compared to the same quarter last year. Equities analysts anticipate that PNM Resources will post 2.31 earnings per share for the current fiscal year.

Institutional investors and hedge funds have recently made changes to their positions in the stock. Water Island Capital LLC acquired a new position in PNM Resources in the 4th quarter valued at about $69,407,000. GABELLI & Co INVESTMENT ADVISERS INC. bought a new stake in PNM Resources in the 4th quarter valued at about $15,307,000. Gabelli Funds LLC boosted its holdings in PNM Resources by 21.8% in the 4th quarter. Gabelli Funds LLC now owns 2,284,274 shares of the utilities provider’s stock valued at $110,856,000 after purchasing an additional 409,151 shares during the period. State of Michigan Retirement System boosted its holdings in PNM Resources by 9.3% in the 1st quarter. State of Michigan Retirement System now owns 31,757 shares of the utilities provider’s stock valued at $1,558,000 after purchasing an additional 2,700 shares during the period. Finally, American International Group Inc. boosted its holdings in PNM Resources by 8.2% in the 1st quarter. American International Group Inc. now owns 204,432 shares of the utilities provider’s stock valued at $10,027,000 after purchasing an additional 15,546 shares during the period. Institutional investors and hedge funds own 82.45% of the company’s stock.

PNM Resources Company Profile

PNM Resources, Inc, through its subsidiaries, provides electricity and electric services in the United States. It operates through Public Service Company of New Mexico (PNM) and Texas-New Mexico Power Company (TNMP) segments. The PNM segment engages in the generation, transmission, and distribution of electricity.

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Analyst Recommendations for PNM Resources (NYSE:PNM)

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