PNM Resources, Inc. (Holding Co.) (PNM) Upgraded by ValuEngine to “Buy”

ValuEngine upgraded shares of PNM Resources, Inc. (Holding Co.) (NYSE:PNM) from a hold rating to a buy rating in a research note released on Thursday.

A number of other research firms have also weighed in on PNM. Jefferies Group LLC reaffirmed a hold rating and set a $38.00 target price on shares of PNM Resources, Inc. (Holding Co.) in a report on Friday, July 21st. Ladenburg Thalmann Financial Services lowered shares of PNM Resources, Inc. (Holding Co.) from a buy rating to a neutral rating and set a $41.00 target price on the stock. in a report on Friday, August 18th. BidaskClub raised shares of PNM Resources, Inc. (Holding Co.) from a buy rating to a strong-buy rating in a report on Thursday, August 10th. Zacks Investment Research raised shares of PNM Resources, Inc. (Holding Co.) from a sell rating to a hold rating in a report on Wednesday, August 2nd. Finally, Royal Bank Of Canada cut shares of PNM Resources, Inc. (Holding Co.) from an outperform rating to a sector perform rating in a research note on Friday, August 18th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. The stock currently has an average rating of Hold and a consensus target price of $37.77.

Shares of PNM Resources, Inc. (NYSE:PNM) opened at 42.55 on Thursday. The company’s 50 day moving average is $41.35 and its 200 day moving average is $38.52. PNM Resources, Inc. has a 52-week low of $30.95 and a 52-week high of $42.95. The firm has a market cap of $3.39 billion, a price-to-earnings ratio of 24.45 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 earnings per share for the quarter, topping the Zacks’ 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 net margin of 10.05% and a return on equity of 8.57%. During the same period last year, the company posted $0.40 EPS. Analysts anticipate that PNM Resources, Inc. will post $1.85 earnings per share for the current year.

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The business also recently disclosed a quarterly dividend, which was paid on Monday, August 14th. Shareholders of record on Monday, August 7th were issued a $0.2425 dividend. The ex-dividend date was Thursday, August 3rd. This represents a $0.97 annualized dividend and a yield of 2.28%. PNM Resources, Inc. (Holding Co.)’s dividend payout ratio (DPR) is presently 55.43%.

In related news, SVP Ronald N. Darnell sold 5,000 shares of the stock in a transaction dated Friday, August 11th. The shares were sold at an average price of $40.97, for a total value of $204,850.00. Following the completion of the transaction, the senior vice president now directly owns 24,053 shares in the company, valued at approximately $985,451.41. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Patrick V. Apodaca sold 5,333 shares of the stock in a transaction dated Wednesday, August 2nd. The stock was 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 owns 65,009 shares of the company’s stock, valued at $2,628,313.87. The disclosure for this sale can be found here. 1.26% of the stock is currently owned by corporate insiders.

Several institutional investors have recently modified their holdings of PNM. BlackRock Inc. grew its position 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 purchasing an additional 8,438,593 shares during the last quarter. Ameriprise Financial Inc. boosted its holdings 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 last quarter. United Services Automobile Association purchased a new stake in shares of PNM Resources, Inc. (Holding Co.) during the 1st quarter valued at about $12,395,000. Lord Abbett & CO. LLC purchased a new stake in shares of PNM Resources, Inc. (Holding Co.) during the 2nd quarter valued at about $11,867,000. Finally, Vanguard Group Inc. boosted its holdings 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 last quarter. Institutional investors own 95.15% 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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

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

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