PNM Resources (NYSE:PNM) Price Target Increased to $43.00 by Analysts at Barclays

PNM Resources (NYSE:PNM) had its target price hoisted by Barclays from $40.00 to $43.00 in a report released on Monday, Benzinga reports. The firm currently has an overweight rating on the utilities provider’s stock.

Several other brokerages also recently commented on PNM. Wells Fargo & Company upgraded PNM Resources from an equal weight rating to an overweight rating and set a $44.00 price target on the stock in a report on Wednesday, January 3rd. TheStreet cut PNM Resources from a b- rating to a c+ rating in a research report on Thursday, January 4th. StockNews.com cut PNM Resources from a hold rating to a sell rating in a research report on Wednesday, January 17th. Finally, Mizuho cut PNM Resources from a buy rating to a neutral rating and set a $41.00 price objective for the company. in a research report on Wednesday, January 3rd. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of Hold and an average price target of $46.80.

PNM Resources Trading Up 0.6 %

Shares of PNM stock opened at $36.11 on Monday. PNM Resources has a 12 month low of $34.63 and a 12 month high of $49.08. The company has a quick ratio of 0.31, a current ratio of 0.39 and a debt-to-equity ratio of 1.77. The business’s 50 day moving average is $37.16 and its two-hundred day moving average is $39.75. The company has a market cap of $3.26 billion, a PE ratio of 35.07, a price-to-earnings-growth ratio of 9.94 and a beta of 0.35.

PNM Resources (NYSE:PNM) last announced its quarterly earnings results on Tuesday, February 6th. The utilities provider reported $0.18 EPS for the quarter, beating the consensus estimate of $0.14 by $0.04. PNM Resources had a return on equity of 10.51% and a net margin of 4.54%. The company had revenue of $412.11 million for the quarter, compared to the consensus estimate of $705.05 million. During the same quarter last year, the company posted $0.15 earnings per share. Equities analysts predict that PNM Resources will post 2.7 EPS for the current year.

PNM Resources Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 10th. Stockholders of record on Friday, April 26th will be given a $0.387 dividend. The ex-dividend date of this dividend is Thursday, April 25th. This represents a $1.55 annualized dividend and a dividend yield of 4.29%. PNM Resources’s dividend payout ratio is 150.49%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Arizona State Retirement System lifted its position in PNM Resources by 1.4% in the third quarter. Arizona State Retirement System now owns 23,217 shares of the utilities provider’s stock worth $1,036,000 after purchasing an additional 313 shares during the period. Franklin Resources Inc. lifted its position in PNM Resources by 2.1% in the second quarter. Franklin Resources Inc. now owns 16,128 shares of the utilities provider’s stock worth $727,000 after purchasing an additional 338 shares during the period. Captrust Financial Advisors lifted its position in PNM Resources by 14.8% in the first quarter. Captrust Financial Advisors now owns 2,626 shares of the utilities provider’s stock worth $125,000 after purchasing an additional 339 shares during the period. Xponance Inc. lifted its position in PNM Resources by 2.9% in the fourth quarter. Xponance Inc. now owns 12,598 shares of the utilities provider’s stock worth $524,000 after purchasing an additional 356 shares during the period. Finally, Massachusetts Financial Services Co. MA lifted its position in PNM Resources by 0.9% in the third quarter. Massachusetts Financial Services Co. MA now owns 44,588 shares of the utilities provider’s stock worth $1,989,000 after purchasing an additional 400 shares during the period. 91.68% of the stock is owned by institutional investors.

PNM Resources Company Profile

PNM Resources, Inc, through its subsidiaries, provides electricity and electric services in the United States. It operates through Public Service Company of New Mexico (PNM) and Texas-New Mexico Power Company (TNMP) segments. The PNM segment engages in the generation, transmission, and distribution of electricity.