PNM Resources Inc. (NYSE:PNM) fell 2.4% during trading on Friday . The company traded as low as $32.04 and last traded at $32.04, with a volume of 244,041 shares trading hands. The stock had previously closed at $32.83.

A number of brokerages have commented on PNM. Zacks Investment Research upgraded PNM Resources from a “sell” rating to a “hold” rating in a report on Friday. Jefferies Group reissued a “hold” rating on shares of PNM Resources in a research note on Monday, July 18th. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The company has an average rating of “Buy” and an average price target of $35.50.

The stock has a market cap of $2.54 billion and a price-to-earnings ratio of 350.44. The firm has a 50-day moving average of $33.67 and a 200 day moving average of $33.14.

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. During the same period in the previous year, the firm earned $0.44 EPS. PNM Resources’s revenue for the quarter was down 10.6% on a year-over-year basis. On average, equities research analysts predict that PNM Resources Inc. will post $1.58 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Monday, August 22nd. Investors of record on Monday, August 8th were issued a dividend of $0.22 per share. The ex-dividend date was Thursday, August 4th. This represents a $0.88 annualized dividend and a yield of 2.76%.

A hedge fund recently raised its stake in PNM Resources stock. Wells Fargo & Company MN boosted its stake in PNM Resources Inc. (NYSE:PNM) by 0.7% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 549,087 shares of the company’s stock after buying an additional 3,678 shares during the period. Wells Fargo & Company MN owned about 0.69% of PNM Resources worth $16,785,000 at the end of the most recent reporting period.

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).

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