PNM Resources (NYSE:PNM) Upgraded at ValuEngine

PNM Resources (NYSE:PNM) was upgraded by ValuEngine from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Tuesday, ValuEngine reports.

PNM has been the subject of a number of other reports. UBS Group upped their price objective on shares of PNM Resources from $50.00 to $53.00 and gave the stock a “neutral” rating in a report on Friday, September 6th. TheStreet upgraded shares of PNM Resources from a “c+” rating to a “b-” rating in a report on Thursday, August 29th. Barclays upgraded shares of PNM Resources from an “underweight” rating to an “equal weight” rating and decreased their price objective for the stock from $52.00 to $51.00 in a report on Thursday, November 21st. SunTrust Banks upped their price objective on shares of PNM Resources from $49.00 to $50.00 and gave the stock a “hold” rating in a report on Monday, September 30th. Finally, Bank of America upgraded shares of PNM Resources from a “neutral” rating to a “buy” rating and set a $56.00 price objective for the company in a report on Monday, September 30th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $52.14.

Shares of NYSE:PNM opened at $48.00 on Tuesday. The stock has a market capitalization of $3.86 billion, a PE ratio of 24.00, a P/E/G ratio of 4.13 and a beta of 0.15. PNM Resources has a 1 year low of $39.51 and a 1 year high of $52.98. The firm has a fifty day moving average price of $49.83 and a 200 day moving average price of $50.12. The company has a current ratio of 0.36, a quick ratio of 0.28 and a debt-to-equity ratio of 1.48.

PNM Resources (NYSE:PNM) last issued its quarterly earnings data on Friday, November 1st. The utilities provider reported $1.29 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.25 by $0.04. The firm had revenue of $433.59 million during the quarter, compared to analysts’ expectations of $562.33 million. PNM Resources had a negative net margin of 0.64% and a positive return on equity of 9.18%. During the same period in the prior year, the company posted $1.08 earnings per share. On average, sell-side analysts forecast that PNM Resources will post 2.1 earnings per share for the current fiscal year.

A number of hedge funds have recently added to or reduced their stakes in PNM. TRUE Private Wealth Advisors bought a new stake in PNM Resources during the second quarter valued at about $28,000. Trust Co. of Vermont boosted its holdings in PNM Resources by 411.0% during the second quarter. Trust Co. of Vermont now owns 1,865 shares of the utilities provider’s stock valued at $95,000 after acquiring an additional 1,500 shares during the period. Ladenburg Thalmann Financial Services Inc. boosted its holdings in PNM Resources by 54.2% during the second quarter. Ladenburg Thalmann Financial Services Inc. now owns 2,058 shares of the utilities provider’s stock valued at $105,000 after acquiring an additional 723 shares during the period. Contravisory Investment Management Inc. bought a new stake in shares of PNM Resources in the third quarter valued at about $153,000. Finally, Meeder Asset Management Inc. lifted its stake in shares of PNM Resources by 18.7% in the second quarter. Meeder Asset Management Inc. now owns 3,076 shares of the utilities provider’s stock valued at $157,000 after buying an additional 485 shares during the period. Institutional investors own 90.69% of the company’s stock.

PNM Resources Company Profile

PNM Resources, Inc, through its subsidiaries, engages in the energy and energy-related businesses 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 is primarily involved in the generation, transmission, and distribution of electricity.

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Analyst Recommendations for PNM Resources (NYSE:PNM)

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