Shares of PNM Resources, Inc. (Holding Co.) (NYSE:PNM) have been assigned an average recommendation of “Hold” from the eleven analysts that are covering the company, Marketbeat reports. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $36.28.

A number of research firms have recently issued reports on PNM. BidaskClub raised PNM Resources, Inc. (Holding Co.) from a “buy” rating to a “strong-buy” rating in a report on Thursday. Zacks Investment Research raised PNM Resources, Inc. (Holding Co.) from a “sell” rating to a “hold” rating in a report on Wednesday, August 2nd. Royal Bank Of Canada set a $39.00 price target on PNM Resources, Inc. (Holding Co.) and gave the company a “buy” rating in a research note on Saturday, June 3rd. Jefferies Group LLC restated a “hold” rating and issued a $38.00 price target on shares of PNM Resources, Inc. (Holding Co.) in a research note on Friday, July 21st. Finally, Mizuho started coverage on PNM Resources, Inc. (Holding Co.) in a research note on Wednesday, April 19th. They issued an “underperform” rating and a $32.25 price target on the stock.

In other news, SVP Patrick V. Apodaca sold 5,333 shares of the company’s stock in a transaction on Wednesday, August 2nd. The stock was sold at an average price of $40.43, for a total value of $215,613.19. Following the sale, the senior vice president now directly owns 65,009 shares in the company, valued at $2,628,313.87. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Norman P. Becker acquired 2,500 shares of PNM Resources, Inc. (Holding Co.) stock in a transaction dated Monday, June 5th. The stock was bought at an average price of $38.98 per share, for a total transaction of $97,450.00. Following the completion of the transaction, the director now directly owns 5,732 shares of the company’s stock, valued at $223,433.36. The disclosure for this purchase can be found here. 1.26% of the stock is owned by corporate insiders.

Hedge funds have recently modified their holdings of the stock. IFP Advisors Inc increased its stake in shares of PNM Resources, Inc. (Holding Co.) by 211.8% in the first quarter. IFP Advisors Inc now owns 2,987 shares of the utilities provider’s stock valued at $111,000 after buying an additional 2,029 shares in the last quarter. Meadow Creek Investment Management LLC increased its stake in shares of PNM Resources, Inc. (Holding Co.) by 3.9% in the first quarter. Meadow Creek Investment Management LLC now owns 3,542 shares of the utilities provider’s stock valued at $131,000 after buying an additional 132 shares in the last quarter. Glen Harbor Capital Management LLC increased its stake in shares of PNM Resources, Inc. (Holding Co.) by 3.9% in the first quarter. Glen Harbor Capital Management LLC now owns 4,508 shares of the utilities provider’s stock valued at $167,000 after buying an additional 168 shares in the last quarter. US Bancorp DE increased its stake in shares of PNM Resources, Inc. (Holding Co.) by 23.7% in the second quarter. US Bancorp DE now owns 4,716 shares of the utilities provider’s stock valued at $181,000 after buying an additional 905 shares in the last quarter. Finally, Envestnet Asset Management Inc. increased its stake in shares of PNM Resources, Inc. (Holding Co.) by 45.1% in the first quarter. Envestnet Asset Management Inc. now owns 4,825 shares of the utilities provider’s stock valued at $178,000 after buying an additional 1,499 shares in the last quarter. Institutional investors and hedge funds own 93.82% of the company’s stock.

PNM Resources, Inc. (NYSE:PNM) opened at 41.40 on Friday. PNM Resources, Inc. has a one year low of $30.95 and a one year high of $42.20. The firm has a 50-day moving average of $39.06 and a 200-day moving average of $37.41. The company has a market capitalization of $3.30 billion, a P/E ratio of 23.79 and a beta of 0.32.

PNM Resources, Inc. (Holding Co.) (NYSE:PNM) last issued its earnings results on Friday, July 28th. The utilities provider reported $0.49 earnings per share for the quarter, topping the consensus estimate of $0.45 by $0.04. The business had revenue of $362.32 million for the quarter. PNM Resources, Inc. (Holding Co.) had a return on equity of 8.57% and a net margin of 10.05%. During the same period last year, the business posted $0.40 EPS. On average, analysts anticipate that PNM Resources, Inc. will post $1.85 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Monday, August 14th. Shareholders of record on Monday, August 7th will be given a dividend of $0.2425 per share. The ex-dividend date is Thursday, August 3rd. This represents a $0.97 dividend on an annualized basis and a yield of 2.34%. PNM Resources, Inc. (Holding Co.)’s payout ratio is 55.43%.

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PNM Resources, Inc. (Holding Co.) 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.

Analyst Recommendations for PNM Resources, Inc. (Holding Co.) (NYSE:PNM)

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