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.
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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