PNM Resources (NYSE:PNM) has been assigned a $47.00 price target by research analysts at Barclays in a research report issued to clients and investors on Friday, TipRanks reports. The firm presently has a “sell” rating on the utilities provider’s stock. Barclays‘s price objective would suggest a potential downside of 0.30% from the stock’s previous close.
PNM has been the subject of a number of other research reports. Zacks Investment Research cut shares of PNM Resources from a “buy” rating to a “hold” rating in a research note on Tuesday, January 22nd. Wells Fargo & Co set a $45.00 target price on shares of PNM Resources and gave the stock a “hold” rating in a research note on Thursday, February 28th. Bank of America reissued an “underperform” rating and set a $43.00 target price (up previously from $40.00) on shares of PNM Resources in a research note on Thursday, February 28th. Williams Capital reissued a “sell” rating on shares of PNM Resources in a research note on Monday, March 18th. Finally, Mizuho upgraded shares of PNM Resources from an “underperform” rating to a “neutral” rating and boosted their price target for the stock from $42.50 to $43.50 in a research report on Friday, March 8th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company. The company has an average rating of “Hold” and an average target price of $47.70.
Shares of PNM stock traded down $0.66 on Friday, reaching $47.14. 746,938 shares of the company were exchanged, compared to its average volume of 403,856. The stock has a market capitalization of $3.80 billion, a P/E ratio of 23.57, a P/E/G ratio of 4.23 and a beta of 0.28. The company has a quick ratio of 0.59, a current ratio of 0.69 and a debt-to-equity ratio of 1.66. PNM Resources has a 1 year low of $34.95 and a 1 year high of $48.35.
PNM Resources (NYSE:PNM) last released its earnings results on Tuesday, May 7th. The utilities provider reported $0.13 EPS for the quarter, topping analysts’ consensus estimates of $0.11 by $0.02. The business had revenue of $349.65 million during the quarter, compared to analysts’ expectations of $273.12 million. PNM Resources had a net margin of 6.10% and a return on equity of 8.68%. The company’s quarterly revenue was up 10.0% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.21 earnings per share. On average, analysts expect that PNM Resources will post 2.16 earnings per share for the current year.
In related news, VP Joseph Don Tarry sold 1,092 shares of the business’s stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $44.89, for a total transaction of $49,019.88. Following the transaction, the vice president now directly owns 11,882 shares in the company, valued at $533,382.98. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Charles N. Eldred sold 14,000 shares of the business’s stock in a transaction dated Friday, March 8th. The stock was sold at an average price of $44.64, for a total transaction of $624,960.00. Following the transaction, the chief financial officer now owns 108,289 shares in the company, valued at $4,834,020.96. The disclosure for this sale can be found here. Insiders have sold 24,953 shares of company stock worth $1,110,564 over the last 90 days. 1.24% of the stock is currently owned by company insiders.
A number of institutional investors and hedge funds have recently bought and sold shares of PNM. Oregon Public Employees Retirement Fund boosted its holdings in PNM Resources by 4,009.0% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 1,297,417 shares of the utilities provider’s stock valued at $32,000 after purchasing an additional 1,265,842 shares during the last quarter. Osborn Williams & Donohoe LLC acquired a new position in PNM Resources in the 1st quarter valued at about $69,000. IFP Advisors Inc boosted its holdings in PNM Resources by 32.9% in the 4th quarter. IFP Advisors Inc now owns 1,720 shares of the utilities provider’s stock valued at $70,000 after purchasing an additional 426 shares during the last quarter. Quadrant Capital Group LLC boosted its holdings in PNM Resources by 1,004.6% in the 1st quarter. Quadrant Capital Group LLC now owns 2,176 shares of the utilities provider’s stock valued at $100,000 after purchasing an additional 1,979 shares during the last quarter. Finally, Meeder Asset Management Inc. acquired a new position in PNM Resources in the 1st quarter valued at about $123,000. Hedge funds and other institutional investors own 89.84% of the company’s stock.
PNM Resources Company Profile
PNM Resources, Inc, through its subsidiaries, engages in the energy and energy-related businesses 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 is primarily involved in the generation, transmission, and distribution of electricity.
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