Barclays Boosts PNM Resources (NYSE:PNM) Price Target to $43.00

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

A number of other research analysts have also recently weighed in on PNM. StockNews.com cut shares of PNM Resources from a hold rating to a sell rating in a research report on Wednesday, January 17th. Wells Fargo & Company upgraded PNM Resources from an equal weight rating to an overweight rating and set a $44.00 target price for the company in a research report on Wednesday, January 3rd. TheStreet downgraded PNM Resources from a b- rating to a c+ rating in a report on Thursday, January 4th. 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 report on Wednesday, January 3rd. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, PNM Resources presently has a consensus rating of Hold and a consensus price target of $46.80.

PNM Resources Stock Down 0.2 %

Shares of NYSE:PNM opened at $36.14 on Monday. The company has a market cap of $3.26 billion, a price-to-earnings ratio of 35.09, a PEG ratio of 0.37 and a beta of 0.35. PNM Resources has a 12 month low of $34.63 and a 12 month high of $49.08. The company has a current ratio of 0.39, a quick ratio of 0.31 and a debt-to-equity ratio of 1.77. The company has a 50-day moving average price of $37.18 and a 200 day moving average price of $39.84.

PNM Resources (NYSE:PNM) last posted its quarterly earnings data on Tuesday, February 6th. The utilities provider reported $0.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.14 by $0.04. The business had revenue of $412.11 million during the quarter, compared to analyst estimates of $705.05 million. PNM Resources had a return on equity of 10.51% and a net margin of 4.54%. During the same period last year, the company earned $0.15 EPS. As a group, equities research analysts predict that PNM Resources will post 2.66 earnings per share for the current year.

PNM Resources Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, May 10th. Shareholders of record on Friday, April 26th will be issued a $0.387 dividend. This represents a $1.55 annualized dividend and a dividend yield of 4.28%. The ex-dividend date of this dividend is Thursday, April 25th. PNM Resources’s dividend payout ratio is 150.49%.

Institutional Trading of PNM Resources

A number of hedge funds have recently added to or reduced their stakes in the business. Fortis Group Advisors LLC raised its holdings in shares of PNM Resources by 100.0% in the 4th quarter. Fortis Group Advisors LLC now owns 800 shares of the utilities provider’s stock valued at $33,000 after purchasing an additional 400 shares in the last quarter. GAMMA Investing LLC raised its stake in PNM Resources by 106.4% in the first quarter. GAMMA Investing LLC now owns 834 shares of the utilities provider’s stock worth $31,000 after buying an additional 430 shares in the last quarter. State of Wyoming bought a new position in PNM Resources in the fourth quarter worth approximately $46,000. International Assets Investment Management LLC lifted its holdings in PNM Resources by 4,061.5% during the fourth quarter. International Assets Investment Management LLC now owns 1,082 shares of the utilities provider’s stock worth $45,000 after buying an additional 1,056 shares during the period. Finally, Allworth Financial LP boosted its position in PNM Resources by 59.5% during the 3rd quarter. Allworth Financial LP now owns 1,088 shares of the utilities provider’s stock valued at $49,000 after acquiring an additional 406 shares in the last quarter. 91.68% of the stock is owned by hedge funds and other institutional investors.

About PNM Resources

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.