PNM Resources (NYSE:PNM) now covered by analysts at Evercore ISI

Evercore ISI assumed coverage on shares of PNM Resources (NYSE:PNM – Free Report) in a research report released Thursday, reports. The company issued an in-line rating and a $38.00 target price on the utility’s stock.

Additionally, Barclays raised their price objective on shares of PNM Resources from $40.00 to $43.00 and gave the company an overweight rating in a research note on Monday, April 15. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, PNM Resources currently has a consensus rating of Hold and a consensus price target of $43.40.

Check out our latest report on PNM resources

PNM Resources Stock Performance

Shares of PNM opened at $37.35 on Thursday. The company has a fifty-day moving average of $37.28 and a 200-day moving average of $38.50. The company has a market cap of $3.37 billion, a price-to-earnings ratio of 41.04, a price-to-earnings growth ratio of 5.34, and a beta of 0.35. The company has a debt-to-equity ratio of 1.81, a quick ratio of 0.27 and a current ratio of 0.37. PNM Resources has a 1-year low of $34.63 and a 1-year high of $46.94.

PNM Resources (NYSE:PNM – Get Free Report) last posted its earnings results on Tuesday, April 30th. The utility reported $0.41 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.68 by ($0.27). The company had revenue of $436.90 million for the quarter, compared to analyst estimates of $531.00 million. PNM Resources had a net margin of 4.38% and a return on equity of 9.91%. The company’s revenue for the quarter fell 19.7% year over year. During the same period last year, the company earned $0.55 earnings per share. As a group, equity analysts expect PNM Resources to post earnings per share of 2.7 this year.

Institutional trading in PNM resources

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. LRI Investments LLC acquired a new position in shares of PNM Resources during the first quarter valued at $30,000. GAMMA Investing LLC increased its holdings in shares of PNM Resources by 106.4% during the first quarter. GAMMA Investing LLC now owns 834 shares of the utility’s stock worth $31,000 after acquiring an additional 430 shares during the period. Fortis Group Advisors LLC grew its holdings in PNM Resources by 100.0% in the fourth quarter. Fortis Group Advisors LLC now owns 800 shares of the utility’s stock worth $33,000 after purchasing an additional 400 shares during the period. Fifth Third Bancorp increased its stake in PNM Resources by 152.3% during the first quarter. Fifth Third Bancorp now owns 1,062 shares of the utility’s stock worth $40,000 after purchasing an additional 641 shares during the period. Finally, International Assets Investment Management LLC boosted its position in shares of PNM Resources by 4,061.5% in the fourth quarter. International Assets Investment Management LLC now owns 1,082 shares of the utility’s stock worth $45,000 after purchasing an additional 1,056 shares during the period. 91.68% of the shares are held by institutional investors and hedge funds.

PNM Resources Company Profile

(Get a free report)

PNM Resources, Inc, through its subsidiaries, provides electricity and electrical services in the United States. It operates through the Public Service Company of New Mexico (PNM) and Texas-New Mexico Power Company (TNMP) segments. The PNM segment is engaged in the generation, transmission and distribution of electricity.

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Analyst Recommendations for PNM Sources (NYSE:PNM)

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