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

PNM Resources, Inc. (NYSE:PNM) has received a consensus recommendation of “Moderate Buy” from the five ratings firms that are currently covering the firm, MarketBeat.com reports. Two equities research analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 1-year price objective among brokers that have covered the stock in the last year is $46.20.

PNM has been the topic of a number of research reports. StockNews.com downgraded PNM Resources from a “hold” rating to a “sell” rating in a research note on Wednesday, January 17th. Barclays assumed coverage on PNM Resources in a research note on Thursday, February 8th. They set an “overweight” rating and a $40.00 price objective for the company. Wells Fargo & Company raised PNM Resources from an “equal weight” rating to an “overweight” rating and set a $44.00 target price on the stock in a research report on Wednesday, January 3rd. TheStreet lowered PNM Resources from a “b-” rating to a “c+” rating in a research report on Thursday, January 4th. Finally, Mizuho downgraded PNM Resources from a “buy” rating to a “neutral” rating and set a $41.00 price objective on the stock. in a report on Wednesday, January 3rd.

PNM Resources Trading Down 1.8 %

Shares of NYSE PNM opened at $36.23 on Friday. 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 stock has a market capitalization of $3.27 billion, a P/E ratio of 35.17, a PEG ratio of 0.37 and a beta of 0.35. PNM Resources has a 52-week low of $34.63 and a 52-week high of $49.08. The stock’s 50 day moving average price is $37.15 and its two-hundred day moving average price is $39.93.

PNM Resources (NYSE:PNM) last posted its quarterly earnings results on Tuesday, February 6th. The utilities provider reported $0.18 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.14 by $0.04. PNM Resources had a net margin of 4.54% and a return on equity of 10.51%. The company had revenue of $412.11 million for the quarter, compared to the consensus estimate of $705.05 million. During the same period last year, the firm posted $0.15 EPS. On average, analysts anticipate that PNM Resources will post 2.66 earnings per share for the current fiscal year.

PNM Resources Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 10th. Investors of record on Friday, April 26th will be paid a $0.387 dividend. This represents a $1.55 annualized dividend and a yield of 4.27%. The ex-dividend date is Thursday, April 25th. PNM Resources’s dividend payout ratio is currently 150.49%.

Hedge Funds Weigh In On PNM Resources

Several institutional investors and hedge funds have recently bought and sold shares of the business. Fortis Group Advisors LLC grew its position in PNM Resources by 100.0% during the fourth 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 grew its holdings in shares of PNM Resources by 106.4% during the 1st quarter. GAMMA Investing LLC now owns 834 shares of the utilities provider’s stock valued at $31,000 after acquiring an additional 430 shares in the last quarter. State of Wyoming acquired a new position in shares of PNM Resources in the fourth quarter worth $46,000. International Assets Investment Management LLC raised its holdings in shares of 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 acquiring an additional 1,056 shares in the last quarter. Finally, Allworth Financial LP raised its holdings in shares of PNM Resources by 59.5% during the third quarter. Allworth Financial LP now owns 1,088 shares of the utilities provider’s stock worth $49,000 after acquiring an additional 406 shares in the last quarter. Hedge funds and other institutional investors own 91.68% of the company’s stock.

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.