PNM Resources (NYSE:PNM) Price Target Increased to $43.00 by Analysts at Barclays

PNM Resources (NYSE:PNM) had its price objective raised by Barclays from $40.00 to $43.00 in a report published on Monday morning, Benzinga reports. Barclays currently has an overweight rating on the utilities provider’s stock.

Other analysts also recently issued research reports about the stock. Mizuho downgraded shares of PNM Resources from a buy rating to a neutral rating and set a $41.00 price target for the company. in a report on Wednesday, January 3rd. Wells Fargo & Company upgraded shares of PNM Resources from an equal weight rating to an overweight rating and set a $44.00 target price for the company in a report on Wednesday, January 3rd. StockNews.com downgraded shares of PNM Resources from a hold rating to a sell rating in a report on Wednesday, January 17th. Finally, TheStreet downgraded shares of PNM Resources from a b- rating to a c+ rating in a report on Thursday, January 4th. One research analyst has rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, PNM Resources has a consensus rating of Hold and an average price target of $46.80.

PNM Resources Stock Up 0.6 %

Shares of NYSE PNM opened at $36.11 on Monday. The company has a 50 day simple moving average of $37.16 and a 200-day simple moving average of $39.75. The company has a market capitalization of $3.26 billion, a P/E ratio of 35.07, a P/E/G ratio of 9.94 and a beta of 0.35. The company has a debt-to-equity ratio of 1.77, a current ratio of 0.39 and a quick ratio of 0.31. PNM Resources has a 1 year low of $34.63 and a 1 year high of $49.08.

PNM Resources (NYSE:PNM) last announced its quarterly earnings results on Tuesday, February 6th. The utilities provider reported $0.18 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.14 by $0.04. The business had revenue of $412.11 million during the quarter, compared to the consensus estimate of $705.05 million. PNM Resources had a net margin of 4.54% and a return on equity of 10.51%. During the same quarter last year, the firm earned $0.15 EPS. On average, equities research analysts predict that PNM Resources will post 2.7 earnings per share for the current year.

PNM Resources Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 10th. Shareholders of record on Friday, April 26th will be given a $0.387 dividend. The ex-dividend date of this dividend is Thursday, April 25th. This represents a $1.55 annualized dividend and a yield of 4.29%. PNM Resources’s dividend payout ratio is presently 150.49%.

Hedge Funds Weigh In On PNM Resources

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Arizona State Retirement System boosted its position in PNM Resources by 1.4% in the 3rd quarter. Arizona State Retirement System now owns 23,217 shares of the utilities provider’s stock valued at $1,036,000 after buying an additional 313 shares during the period. Franklin Resources Inc. boosted its position in PNM Resources by 2.1% in the 2nd quarter. Franklin Resources Inc. now owns 16,128 shares of the utilities provider’s stock valued at $727,000 after buying an additional 338 shares during the period. Captrust Financial Advisors boosted its position in PNM Resources by 14.8% in the 1st quarter. Captrust Financial Advisors now owns 2,626 shares of the utilities provider’s stock valued at $125,000 after buying an additional 339 shares during the period. Xponance Inc. boosted its position in PNM Resources by 2.9% in the 4th quarter. Xponance Inc. now owns 12,598 shares of the utilities provider’s stock valued at $524,000 after buying an additional 356 shares during the period. Finally, Massachusetts Financial Services Co. MA boosted its position in PNM Resources by 0.9% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 44,588 shares of the utilities provider’s stock valued at $1,989,000 after buying an additional 400 shares during the period. Hedge funds and other institutional investors own 91.68% 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.