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

Shares of PNM Resources, Inc. (NYSE:PNM) have earned a consensus recommendation of “Moderate Buy” from the five ratings firms that are presently covering the firm, MarketBeat reports. Two analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $46.80.

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

Institutional Trading of PNM Resources

Hedge funds have recently modified their holdings of the company. GAMMA Investing LLC raised its stake 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 worth $31,000 after acquiring an additional 430 shares in the last quarter. Fortis Group Advisors LLC increased its position in shares of PNM Resources by 100.0% during the fourth quarter. Fortis Group Advisors LLC now owns 800 shares of the utilities provider’s stock worth $33,000 after purchasing an additional 400 shares in the last quarter. Fifth Third Bancorp raised its position in shares of PNM Resources by 152.3% in the 1st quarter. Fifth Third Bancorp now owns 1,062 shares of the utilities provider’s stock valued at $40,000 after purchasing an additional 641 shares during the last quarter. International Assets Investment Management LLC lifted its stake 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 buying an additional 1,056 shares during the period. Finally, Allworth Financial LP increased its holdings in shares of PNM Resources by 59.5% in the third quarter. Allworth Financial LP now owns 1,088 shares of the utilities provider’s stock valued at $49,000 after purchasing an additional 406 shares during the period. 91.68% of the stock is owned by hedge funds and other institutional investors.

PNM Resources Stock Down 1.2 %

Shares of PNM opened at $37.97 on Thursday. The company has a quick ratio of 0.31, a current ratio of 0.39 and a debt-to-equity ratio of 1.77. PNM Resources has a 52-week low of $34.63 and a 52-week high of $48.48. The company has a market cap of $3.42 billion, a PE ratio of 41.72, a P/E/G ratio of 3.04 and a beta of 0.35. The business has a fifty day moving average of $37.07 and a 200 day moving average of $39.03.

PNM Resources (NYSE:PNM) last posted its quarterly earnings results on Tuesday, April 30th. The utilities provider reported $0.41 EPS for the quarter, missing analysts’ consensus estimates of $0.68 by ($0.27). The company had revenue of $436.90 million during the quarter, compared to the consensus estimate of $531.00 million. PNM Resources had a return on equity of 9.99% and a net margin of 4.38%. The company’s revenue for the quarter was down 19.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.55 earnings per share. On average, sell-side analysts expect that PNM Resources will post 2.71 EPS for the current year.

PNM Resources Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, May 10th. Shareholders of record on Friday, April 26th will be paid a $0.387 dividend. The ex-dividend date is Thursday, April 25th. This represents a $1.55 annualized dividend and a yield of 4.08%. PNM Resources’s dividend payout ratio (DPR) 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.