Wells Fargo & Company assumed coverage on shares of PNM Resources, Inc. (Holding Co.) (NYSE:PNM) in a report published on Friday. The brokerage issued a market perform rating and a $42.00 price objective on the utilities provider’s stock.

Other equities analysts have also issued reports about the stock. ValuEngine upgraded shares of PNM Resources, Inc. (Holding Co.) from a hold rating to a buy rating in a report on Thursday, September 7th. Williams Capital lowered shares of PNM Resources, Inc. (Holding Co.) from a hold rating to a sell rating and set a $38.00 target price for the company. in a report on Monday, September 18th. Jefferies Group LLC reiterated a hold rating and set a $43.00 target price on shares of PNM Resources, Inc. (Holding Co.) in a report on Thursday, August 31st. KeyCorp reiterated a hold rating on shares of PNM Resources, Inc. (Holding Co.) in a report on Friday, September 1st. Finally, Royal Bank Of Canada lowered shares of PNM Resources, Inc. (Holding Co.) from an outperform rating to a sector perform rating in a report on Friday, August 18th. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. PNM Resources, Inc. (Holding Co.) currently has a consensus rating of Hold and a consensus price target of $38.33.

PNM Resources, Inc. (NYSE:PNM) traded down 0.72% on Friday, reaching $41.30. The company had a trading volume of 453,599 shares. The firm has a market capitalization of $3.29 billion, a price-to-earnings ratio of 23.74 and a beta of 0.32. The company’s 50 day moving average is $41.94 and its 200-day moving average is $38.87. PNM Resources, Inc. has a one year low of $30.95 and a one year high of $43.05.

PNM Resources, Inc. (Holding Co.) (NYSE:PNM) last posted its quarterly earnings data on Friday, July 28th. The utilities provider reported $0.49 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.45 by $0.04. The business had revenue of $362.32 million for the quarter. PNM Resources, Inc. (Holding Co.) had a return on equity of 8.57% and a net margin of 10.05%. During the same period in the previous year, the firm posted $0.40 earnings per share. On average, equities research analysts expect that PNM Resources, Inc. will post $1.85 earnings per share for the current fiscal year.

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The business also recently announced a quarterly dividend, which will be paid on Tuesday, November 14th. Shareholders of record on Monday, October 30th will be paid a dividend of $0.2425 per share. The ex-dividend date is Friday, October 27th. This represents a $0.97 dividend on an annualized basis and a yield of 2.35%. PNM Resources, Inc. (Holding Co.)’s dividend payout ratio is presently 55.43%.

In other PNM Resources, Inc. (Holding Co.) news, SVP Patrick V. Apodaca sold 5,333 shares of the business’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 sale, the senior vice president now directly owns 65,009 shares in the company, valued at approximately $2,628,313.87. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, SVP Ronald N. Darnell sold 5,000 shares of the business’s stock in a transaction on Friday, August 11th. The shares were sold at an average price of $40.97, for a total transaction of $204,850.00. Following the sale, the senior vice president now owns 24,053 shares of the company’s stock, valued at $985,451.41. The disclosure for this sale can be found here. 1.26% of the stock is currently owned by insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in PNM. BlackRock Inc. raised its stake in PNM Resources, Inc. (Holding Co.) by 16,661.9% during the 1st quarter. BlackRock Inc. now owns 8,489,239 shares of the utilities provider’s stock valued at $314,103,000 after buying an additional 8,438,593 shares during the last quarter. Ameriprise Financial Inc. grew its position in shares of PNM Resources, Inc. (Holding Co.) by 32.6% during the 2nd quarter. Ameriprise Financial Inc. now owns 1,388,167 shares of the utilities provider’s stock valued at $53,069,000 after acquiring an additional 341,655 shares during the period. United Services Automobile Association bought a new stake in shares of PNM Resources, Inc. (Holding Co.) during the 1st quarter valued at $12,395,000. Lord Abbett & CO. LLC bought a new stake in shares of PNM Resources, Inc. (Holding Co.) during the 2nd quarter valued at $11,867,000. Finally, Vanguard Group Inc. grew its position in shares of PNM Resources, Inc. (Holding Co.) by 4.6% during the 1st quarter. Vanguard Group Inc. now owns 7,082,734 shares of the utilities provider’s stock valued at $262,061,000 after acquiring an additional 308,821 shares during the period. Institutional investors and hedge funds own 94.31% of the company’s stock.

About PNM Resources, Inc. (Holding Co.)

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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