PNM Resources, Inc. (Holding Co.) (NYSE:PNM)‘s stock had its “buy” rating reiterated by Argus in a research report issued to clients and investors on Friday. They presently have a $41.40 price target on the utilities provider’s stock, down from their previous price target of $43.00.

Other analysts also recently issued reports about the stock. Royal Bank Of Canada set a $39.00 target price on shares of PNM Resources, Inc. (Holding Co.) and gave the stock a “buy” rating in a research report on Saturday, June 3rd. Zacks Investment Research upgraded shares of PNM Resources, Inc. (Holding Co.) from a “sell” rating to a “hold” rating in a research note on Wednesday, July 12th. BidaskClub cut shares of PNM Resources, Inc. (Holding Co.) from a “buy” rating to a “hold” rating in a research note on Saturday, July 1st. Jefferies Group LLC restated a “hold” rating and issued a $38.00 price objective on shares of PNM Resources, Inc. (Holding Co.) in a research note on Friday, July 21st. Finally, Mizuho assumed coverage on shares of PNM Resources, Inc. (Holding Co.) in a research note on Wednesday, April 19th. They issued an “underperform” rating and a $32.25 price objective for the company. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $36.85.

PNM Resources, Inc. (NYSE PNM) opened at 41.40 on Friday. PNM Resources, Inc. has a 52 week low of $30.95 and a 52 week high of $42.20. The stock has a 50 day moving average of $39.06 and a 200-day moving average of $37.41. The stock has a market cap of $3.30 billion, a P/E ratio of 23.79 and a beta of 0.32.

PNM Resources, Inc. (Holding Co.) (NYSE:PNM) last posted its earnings results on Friday, July 28th. The utilities provider reported $0.49 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.45 by $0.04. The company had revenue of $362.32 million during the quarter. PNM Resources, Inc. (Holding Co.) had a net margin of 10.05% and a return on equity of 8.57%. During the same period in the prior year, the firm earned $0.40 earnings per share. Analysts forecast that PNM Resources, Inc. will post $1.85 earnings per share for the current year.

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In related news, SVP Patrick V. Apodaca sold 5,333 shares of the company’s stock in a transaction on Wednesday, August 2nd. The shares were sold at an average price of $40.43, for a total transaction of $215,613.19. Following the completion of the transaction, the senior vice president now directly owns 65,009 shares in the company, valued at approximately $2,628,313.87. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Norman P. Becker bought 2,500 shares of the business’s stock in a transaction that occurred on Monday, June 5th. The shares were bought at an average price of $38.98 per share, with a total value of $97,450.00. Following the completion of the purchase, the director now owns 5,732 shares in the company, valued at $223,433.36. The disclosure for this purchase can be found here. 1.26% of the stock is currently owned by insiders.

Institutional investors have recently added to or reduced their stakes in the stock. IFP Advisors Inc boosted its position in PNM Resources, Inc. (Holding Co.) by 211.8% in the first quarter. IFP Advisors Inc now owns 2,987 shares of the utilities provider’s stock valued at $111,000 after buying an additional 2,029 shares during the last quarter. Meadow Creek Investment Management LLC boosted its position in PNM Resources, Inc. (Holding Co.) by 3.9% in the first quarter. Meadow Creek Investment Management LLC now owns 3,542 shares of the utilities provider’s stock valued at $131,000 after buying an additional 132 shares during the last quarter. Glen Harbor Capital Management LLC boosted its position in PNM Resources, Inc. (Holding Co.) by 3.9% in the first quarter. Glen Harbor Capital Management LLC now owns 4,508 shares of the utilities provider’s stock valued at $167,000 after buying an additional 168 shares during the last quarter. US Bancorp DE boosted its position in PNM Resources, Inc. (Holding Co.) by 23.7% in the second quarter. US Bancorp DE now owns 4,716 shares of the utilities provider’s stock valued at $181,000 after buying an additional 905 shares during the last quarter. Finally, Envestnet Asset Management Inc. boosted its position in PNM Resources, Inc. (Holding Co.) by 45.1% in the first quarter. Envestnet Asset Management Inc. now owns 4,825 shares of the utilities provider’s stock valued at $178,000 after buying an additional 1,499 shares during the last quarter. Hedge funds and other institutional investors own 93.82% of the company’s stock.

PNM Resources, Inc. (Holding Co.) 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 (PNM) and Texas-New Mexico Power Company (TNMP). It operates in three segments: PNM, TNMP, and Corporate and Other.

Analyst Recommendations for PNM Resources, Inc. (Holding Co.) (NYSE:PNM)

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