PNM Resources, Inc. (NYSE:PNM) Receives Average Rating of “Moderate Buy” from Analysts

PNM Resources, Inc. (NYSE:PNM) has earned a consensus rating of “Moderate Buy” from the five research firms that are presently covering the stock, MarketBeat Ratings reports. Two research analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $46.80.

PNM has been the subject of a number of recent analyst reports. Barclays boosted their target price on PNM Resources from $40.00 to $43.00 and gave the stock an “overweight” rating in a research report on Monday, April 15th. StockNews.com cut PNM Resources from a “hold” rating to a “sell” rating in a report on Wednesday, January 17th.

Institutional Trading of PNM Resources

Institutional investors have recently added to or reduced their stakes in the company. Inspire Investing LLC boosted its position in PNM Resources by 3.1% in the 1st quarter. Inspire Investing LLC now owns 9,530 shares of the utilities provider’s stock valued at $359,000 after buying an additional 290 shares during the period. New York State Teachers Retirement System boosted its holdings in PNM Resources by 0.3% during the first quarter. New York State Teachers Retirement System now owns 87,439 shares of the utilities provider’s stock worth $3,291,000 after buying an additional 300 shares in the last quarter. Arizona State Retirement System increased its stake in shares of PNM Resources by 1.4% in the 3rd quarter. Arizona State Retirement System now owns 23,217 shares of the utilities provider’s stock valued at $1,036,000 after purchasing an additional 313 shares in the last quarter. Xponance Inc. raised its stake in shares of PNM Resources by 2.9% during the 4th quarter. Xponance Inc. now owns 12,598 shares of the utilities provider’s stock worth $524,000 after buying an additional 356 shares during the period. Finally, IFM Investors Pty Ltd grew its position in shares of PNM Resources by 3.3% in the first quarter. IFM Investors Pty Ltd now owns 11,877 shares of the utilities provider’s stock valued at $447,000 after purchasing an additional 376 shares during the period. Institutional investors own 91.68% of the company’s stock.

PNM Resources Price Performance

Shares of PNM opened at $37.97 on Thursday. PNM Resources has a fifty-two week low of $34.63 and a fifty-two week high of $48.48. The firm’s 50-day simple moving average is $37.07 and its two-hundred day simple moving average is $39.03. The stock has a market cap of $3.42 billion, a PE ratio of 41.72, a price-to-earnings-growth ratio of 3.04 and a beta of 0.35. The company has a debt-to-equity ratio of 1.77, a quick ratio of 0.31 and a current ratio of 0.39.

PNM Resources (NYSE:PNM) last issued its quarterly earnings results on Tuesday, April 30th. The utilities provider reported $0.41 earnings per share for the quarter, missing the consensus estimate of $0.68 by ($0.27). PNM Resources had a net margin of 4.38% and a return on equity of 9.99%. The company had revenue of $436.90 million for the quarter, compared to the consensus estimate of $531.00 million. During the same quarter in the previous year, the business earned $0.55 earnings per share. PNM Resources’s revenue was down 19.7% compared to the same quarter last year. Analysts anticipate that PNM Resources will post 2.71 earnings per share for the current fiscal year.

PNM Resources Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, May 10th. Investors of record on Friday, April 26th will be issued a dividend of $0.387 per share. The ex-dividend date of this dividend is Thursday, April 25th. This represents a $1.55 annualized dividend and a yield of 4.08%. PNM Resources’s payout ratio is presently 170.33%.

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.