PNM Resources (NYSE:PNM) was downgraded by research analysts at Mizuho from a “neutral” rating to an “underperform” rating in a research report issued on Monday, The Fly reports.

Several other equities analysts have also recently weighed in on PNM. Zacks Investment Research cut shares of PNM Resources from a “buy” rating to a “hold” rating in a research note on Saturday, October 6th. Bank of America cut their target price on shares of PNM Resources from $38.00 to $36.00 and set an “underperform” rating for the company in a research note on Tuesday, October 16th. Finally, Barclays raised their target price on shares of PNM Resources from $38.00 to $39.00 and gave the company a “sell” rating in a research note on Monday, November 19th. Four equities research analysts have rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the company. PNM Resources currently has an average rating of “Hold” and an average price target of $39.50.

Shares of PNM stock opened at $41.51 on Monday. The firm has a market cap of $3.25 billion, a PE ratio of 21.40, a PEG ratio of 4.09 and a beta of 0.27. PNM Resources has a one year low of $33.75 and a one year high of $45.35. The company has a debt-to-equity ratio of 1.17, a quick ratio of 0.29 and a current ratio of 0.37.

PNM Resources (NYSE:PNM) last posted its earnings results on Tuesday, November 6th. The utilities provider reported $1.08 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.04 by $0.04. The company had revenue of $422.67 million during the quarter, compared to analysts’ expectations of $483.08 million. PNM Resources had a net margin of 6.08% and a return on equity of 9.25%. During the same period last year, the company posted $0.93 earnings per share. On average, equities analysts forecast that PNM Resources will post 1.97 EPS for the current fiscal year.

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Congress Asset Management Co. MA grew its stake in shares of PNM Resources by 10.2% in the 3rd quarter. Congress Asset Management Co. MA now owns 51,206 shares of the utilities provider’s stock worth $2,020,000 after buying an additional 4,730 shares in the last quarter. GSA Capital Partners LLP grew its stake in shares of PNM Resources by 152.3% in the 3rd quarter. GSA Capital Partners LLP now owns 99,291 shares of the utilities provider’s stock worth $3,917,000 after buying an additional 59,935 shares in the last quarter. Teachers Advisors LLC grew its stake in shares of PNM Resources by 0.5% in the 3rd quarter. Teachers Advisors LLC now owns 504,589 shares of the utilities provider’s stock worth $19,906,000 after buying an additional 2,513 shares in the last quarter. Nordea Investment Management AB grew its stake in shares of PNM Resources by 42.0% in the 3rd quarter. Nordea Investment Management AB now owns 110,080 shares of the utilities provider’s stock worth $4,343,000 after buying an additional 32,545 shares in the last quarter. Finally, Victory Capital Management Inc. grew its stake in shares of PNM Resources by 0.6% in the 3rd quarter. Victory Capital Management Inc. now owns 1,213,079 shares of the utilities provider’s stock worth $47,856,000 after buying an additional 7,747 shares in the last quarter. 89.94% of the stock is owned by institutional investors.

About PNM Resources

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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