PNM Resources Inc. (PNM) Shares Down 0.1%
PNM Resources Inc. (NYSE:PNM)’s share price dropped 0.1% during trading on Friday . The stock traded as low as $34.80 and last traded at $35.12, with a volume of 223,180 shares traded. The stock had previously closed at $35.17.
PNM has been the topic of several analyst reports. SunTrust Banks Inc. increased their target price on shares of PNM Resources from $32.00 to $33.00 and gave the stock a “neutral” rating in a research report on Monday, March 14th. Barclays PLC raised their price target on PNM Resources from $33.00 to $36.00 and gave the company an “overweight” rating in a research report on Friday, March 18th. Argus raised their price target on PNM Resources from $35.00 to $38.00 and gave the company a “buy” rating in a research report on Monday, March 21st. Jefferies Group downgraded PNM Resources from a “buy” rating to a “hold” rating and lowered their price target for the company from $36.00 to $34.00 in a research report on Thursday, March 24th. Finally, Zacks Investment Research downgraded PNM Resources from a “buy” rating to a “hold” rating in a research report on Saturday, March 26th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and five have given a buy rating to the company. PNM Resources presently has an average rating of “Buy” and an average target price of $35.50.
The company has a market capitalization of $2.81 billion and a price-to-earnings ratio of 243.31. The firm’s 50 day moving average is $33.74 and its 200-day moving average is $32.42.
PNM Resources (NYSE:PNM) last posted its quarterly earnings data on Friday, April 29th. The company reported $0.13 EPS for the quarter, missing the consensus estimate of $0.14 by $0.01. During the same quarter in the prior year, the company earned $0.21 earnings per share. 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% compared to the same quarter last year. On average, equities analysts forecast that PNM Resources Inc. will post $1.61 EPS for the current year.
Other large investors have modified their holdings of the company. State of Wisconsin Investment Board boosted its stake in shares of PNM Resources by 3.1% in the fourth quarter. State of Wisconsin Investment Board now owns 58,050 shares of the company’s stock valued at $1,775,000 after buying an additional 1,736 shares during the period. Chicago Equity Partners LLC acquired a new stake in shares of PNM Resources during the fourth quarter valued at approximately $1,619,000. Nationwide Fund Advisors boosted its stake in shares of PNM Resources by 12.2% in the fourth quarter. Nationwide Fund Advisors now owns 345,568 shares of the company’s stock valued at $10,564,000 after buying an additional 37,706 shares during the period. Monarch Partners Asset Management LLC boosted 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 valued at $16,674,000 after buying an additional 34,311 shares during the period. Finally, TD Asset Management Inc. boosted its stake in shares of PNM Resources by 10.0% in the fourth quarter. TD Asset Management Inc. now owns 43,900 shares of the company’s stock valued at $1,342,000 after buying an additional 4,000 shares during the period.
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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