PNM Resources, Inc. (NYSE:PNM) Short Interest Update

PNM Resources, Inc. (NYSE:PNMGet Rating) was the target of a significant increase in short interest during the month of July. As of July 15th, there was short interest totalling 4,830,000 shares, an increase of 37.6% from the June 30th total of 3,510,000 shares. Based on an average daily trading volume, of 619,000 shares, the short-interest ratio is currently 7.8 days. Currently, 5.7% of the shares of the company are short sold.

PNM Resources Stock Performance

PNM opened at $48.27 on Monday. The firm has a market cap of $4.14 billion, a P/E ratio of 21.36, a PEG ratio of 3.65 and a beta of 0.44. PNM Resources has a 1-year low of $43.43 and a 1-year high of $50.11. The company has a 50 day simple moving average of $46.97 and a two-hundred day simple moving average of $46.41. The company has a debt-to-equity ratio of 1.67, a current ratio of 0.45 and a quick ratio of 0.34.

PNM Resources (NYSE:PNMGet Rating) last posted its quarterly earnings results on Thursday, April 28th. The utilities provider reported $0.50 earnings per share for the quarter, topping analysts’ consensus estimates of $0.45 by $0.05. PNM Resources had a net margin of 10.68% and a return on equity of 10.38%. The business had revenue of $444.12 million during the quarter, compared to analyst estimates of $382.37 million. During the same period in the prior year, the business posted $0.32 earnings per share. The company’s revenue was up 21.8% on a year-over-year basis. Equities analysts forecast that PNM Resources will post 2.6 earnings per share for the current fiscal year.

Analyst Ratings Changes

Separately, Mizuho raised shares of PNM Resources from a “neutral” rating to a “buy” rating and reduced their target price for the company from $53.00 to $52.00 in a report on Wednesday, June 22nd. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, PNM Resources currently has a consensus rating of “Hold” and an average price target of $49.00.

Hedge Funds Weigh In On PNM Resources

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. SG Americas Securities LLC boosted its position in shares of PNM Resources by 385.9% during the second quarter. SG Americas Securities LLC now owns 27,106 shares of the utilities provider’s stock worth $1,295,000 after acquiring an additional 21,528 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of PNM Resources by 39.8% during the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 83,183 shares of the utilities provider’s stock worth $3,974,000 after acquiring an additional 23,701 shares during the last quarter. Strs Ohio boosted its position in shares of PNM Resources by 21.7% during the second quarter. Strs Ohio now owns 8,400 shares of the utilities provider’s stock worth $401,000 after acquiring an additional 1,500 shares during the last quarter. Exchange Traded Concepts LLC boosted its position in shares of PNM Resources by 2.3% during the second quarter. Exchange Traded Concepts LLC now owns 13,255 shares of the utilities provider’s stock worth $633,000 after acquiring an additional 304 shares during the last quarter. Finally, Trust Co. of Vermont bought a new position in shares of PNM Resources during the second quarter worth $72,000. Institutional investors own 86.59% of the company’s stock.

PNM Resources Company Profile

(Get Rating)

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.

Recommended Stories

Receive News & Ratings for PNM Resources Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PNM Resources and related companies with MarketBeat.com's FREE daily email newsletter.