PNM Resources Inc. (NYSE:PNM)’s share price shot up 1.4% during trading on Tuesday . The company traded as high as $35.74 and last traded at $35.72, with a volume of 470,578 shares traded. The stock had previously closed at $35.24.

A number of brokerages have commented on PNM. Jefferies Group reaffirmed a “hold” rating on shares of PNM Resources in a research note on Monday, May 2nd. Barclays PLC reaffirmed a “buy” rating on shares of PNM Resources in a research note on Saturday, March 19th. Argus lifted their price target on PNM Resources from $35.00 to $38.00 and gave the stock a “buy” rating in a research note on Monday, March 21st. Zacks Investment Research cut PNM Resources from a “hold” rating to a “sell” rating in a research note on Tuesday, May 3rd. Finally, SunTrust Banks Inc. lifted their price target on PNM Resources from $32.00 to $33.00 and gave the stock a “neutral” rating in a research note on Monday, March 14th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and five have issued a buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $35.50.

The firm has a market cap of $2.87 billion and a PE ratio of 248.62. The stock’s 50-day moving average is $33.63 and its 200-day moving average is $32.40.

PNM Resources (NYSE:PNM) last posted its earnings results on Friday, April 29th. The company reported $0.13 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.14 by $0.01. The company had revenue of $310.90 million for the quarter, compared to analyst estimates of $358 million. The company’s quarterly revenue was down 6.6% on a year-over-year basis. During the same quarter last year, the firm earned $0.21 EPS. Equities analysts anticipate that PNM Resources Inc. will post $1.61 EPS for the current fiscal year.

A number of hedge funds and institutional investors have recently bought and sold shares of PNM. Bailard Inc. purchased a new position in PNM Resources during the fourth quarter valued at approximately $1,382,000. Victory Capital Management Inc. raised its stake in shares of PNM Resources by 7.0% in the fourth quarter. Victory Capital Management Inc. now owns 1,494,623 shares of the company’s stock worth $45,691,000 after buying an additional 97,303 shares in the last quarter. Monarch Partners Asset Management LLC raised its stake in shares of PNM Resources by 6.7% in the fourth quarter. Monarch Partners Asset Management LLC now owns 545,436 shares of the company’s stock worth $16,674,000 after buying an additional 34,311 shares in the last quarter. Wells Fargo & Company MN raised its stake in shares of PNM Resources by 0.7% in the fourth quarter. Wells Fargo & Company MN now owns 549,087 shares of the company’s stock worth $16,785,000 after buying an additional 3,678 shares in the last quarter. Finally, Mutual of America Capital Management LLC raised its stake in shares of PNM Resources by 6.8% in the fourth quarter. Mutual of America Capital Management LLC now owns 208,842 shares of the company’s stock worth $6,384,000 after buying an additional 13,388 shares in the last quarter.

PNM Resources, Inc (PNMR) is an investor-owned holding company of energy and energy-related businesses. The Company’s business segments include PNM, TNMP and Corporate and Other. PNM is an electric utility that provides electric generation, transmission, and distribution service to its rate-regulated customers.

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