Shares of PNM Resources Inc (NYSE:PNM) have earned a consensus rating of “Hold” from the sixteen research firms that are currently covering the firm, MarketBeat.com reports. Five analysts have rated the stock with a sell rating, nine have assigned a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $38.83.
Several equities analysts have issued reports on PNM shares. Zacks Investment Research downgraded shares of PNM Resources from a “hold” rating to a “sell” rating in a research note on Tuesday, January 2nd. Mizuho restated a “sell” rating and issued a $30.50 price objective on shares of PNM Resources in a research note on Thursday, January 11th. SunTrust Banks restated a “hold” rating and issued a $39.00 price objective on shares of PNM Resources in a research note on Tuesday, December 26th. UBS Group started coverage on shares of PNM Resources in a research note on Friday. They issued a “sell” rating and a $36.00 price objective for the company. Finally, Royal Bank of Canada restated a “hold” rating and issued a $40.00 price objective on shares of PNM Resources in a research note on Thursday.
PNM Resources (NYSE:PNM) traded down $0.38 during midday trading on Friday, reaching $36.12. 275,711 shares of the company’s stock traded hands, compared to its average volume of 855,649. The company has a quick ratio of 0.43, a current ratio of 0.53 and a debt-to-equity ratio of 1.25. PNM Resources has a one year low of $34.30 and a one year high of $46.00. The firm has a market capitalization of $2,907.36, a P/E ratio of 18.34, a PEG ratio of 3.64 and a beta of 0.26.
The firm also recently announced a quarterly dividend, which was paid on Thursday, February 1st. Stockholders of record on Thursday, January 18th were paid a dividend of $0.265 per share. This is an increase from PNM Resources’s previous quarterly dividend of $0.24. The ex-dividend date of this dividend was Wednesday, January 17th. This represents a $1.06 annualized dividend and a dividend yield of 2.93%. PNM Resources’s dividend payout ratio is 53.27%.
Several institutional investors and hedge funds have recently made changes to their positions in the company. State Street Corp boosted its stake in shares of PNM Resources by 3.6% during the second quarter. State Street Corp now owns 2,816,088 shares of the utilities provider’s stock worth $107,715,000 after buying an additional 98,535 shares during the period. APG Asset Management N.V. raised its holdings in PNM Resources by 175.2% during the fourth quarter. APG Asset Management N.V. now owns 1,182,300 shares of the utilities provider’s stock worth $39,827,000 after purchasing an additional 752,700 shares in the last quarter. Schwab Charles Investment Management Inc. raised its holdings in PNM Resources by 1.4% during the fourth quarter. Schwab Charles Investment Management Inc. now owns 587,747 shares of the utilities provider’s stock worth $23,775,000 after purchasing an additional 8,235 shares in the last quarter. Deroy & Devereaux Private Investment Counsel Inc. raised its holdings in PNM Resources by 28.8% during the third quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 407,147 shares of the utilities provider’s stock worth $16,408,000 after purchasing an additional 91,064 shares in the last quarter. Finally, Lord Abbett & CO. LLC purchased a new position in PNM Resources during the second quarter worth about $11,867,000. Institutional investors and hedge funds own 92.38% of the company’s stock.
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PNM Resources Company Profile
PNM Resources, Inc (PNMR) is an investor-owned holding company with approximately two regulated utilities providing electricity and electric services in New Mexico and Texas. PNMR’s electric utilities are Public Service Company of New Mexico (PNM) and Texas-New Mexico Power Company (TNMP). It operates in three segments: PNM, TNMP, and Corporate and Other.
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