PNM Resources Inc. (PNM) Raised to “Buy” at Jefferies Group
A number of other brokerages also recently issued reports on PNM. Zacks Investment Research downgraded PNM Resources from a hold rating to a sell rating in a research note on Saturday, June 18th. TheStreet downgraded PNM Resources from a buy rating to a hold rating in a research note on Friday, August 26th. Finally, SunTrust Banks Inc. dropped their price objective on PNM Resources from $35.00 to $34.00 and set a neutral rating on the stock in a research note on Monday, August 29th. Three equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The company has an average rating of Buy and a consensus price target of $35.67.
Shares of PNM Resources (NYSE:PNM) opened at 34.71 on Tuesday. The firm has a 50-day moving average price of $32.68 and a 200-day moving average price of $33.16. The company has a market capitalization of $2.76 billion, a PE ratio of 381.43 and a beta of 0.24. PNM Resources has a 12 month low of $26.54 and a 12 month high of $36.15.
PNM Resources (NYSE:PNM) last announced its earnings results on Monday, August 8th. The company reported $0.40 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.39 by $0.01. The firm had revenue of $315.39 million for the quarter, compared to the consensus estimate of $379 million. PNM Resources had a return on equity of 7.00% and a net margin of 0.54%. The business’s quarterly revenue was down 10.6% compared to the same quarter last year. During the same period in the previous year, the business earned $0.44 EPS. On average, equities research analysts predict that PNM Resources will post $1.59 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 14th. Shareholders of record on Monday, October 31st will be issued a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 2.54%. The ex-dividend date of this dividend is Thursday, October 27th. PNM Resources’s dividend payout ratio is currently 1,100.00%.
A number of hedge funds have recently modified their holdings of the company. Capstone Asset Management Co. raised its stake in shares of PNM Resources by 0.6% in the second quarter. Capstone Asset Management Co. now owns 6,636 shares of the company’s stock worth $235,000 after buying an additional 40 shares in the last quarter. Lynch & Associates IN raised its stake in shares of PNM Resources by 0.9% in the second quarter. Lynch & Associates IN now owns 7,335 shares of the company’s stock worth $260,000 after buying an additional 65 shares in the last quarter. State Treasurer State of Michigan raised its stake in shares of PNM Resources by 0.3% in the second quarter. State Treasurer State of Michigan now owns 31,934 shares of the company’s stock worth $1,132,000 after buying an additional 100 shares in the last quarter. Moody Lynn & Lieberson LLC raised its stake in shares of PNM Resources by 1.0% in the second quarter. Moody Lynn & Lieberson LLC now owns 14,830 shares of the company’s stock worth $526,000 after buying an additional 144 shares in the last quarter. Finally, Chicago Equity Partners LLC raised its stake in shares of PNM Resources by 0.3% in the second quarter. Chicago Equity Partners LLC now owns 53,275 shares of the company’s stock worth $1,888,000 after buying an additional 170 shares in the last quarter. 92.60% of the stock is owned by hedge funds and other institutional investors.
PNM Resources Company Profile
PNM Resources, Inc (PNMR) is an investor-owned holding company with approximately two regulated utilities providing electricity and electric services in New Mexico and Texas. PNMR’s electric utilities are Public Service Company of New Mexico and Subsidiaries (PNM) and Texas-New Mexico Power Company and Subsidiaries (TNMP).
Receive News & Ratings for PNM Resources Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PNM Resources Inc. and related companies with MarketBeat.com's FREE daily email newsletter.