PNM Resources (NYSE:PNM) had its price objective hoisted by Mizuho from $52.50 to $54.00 in a report released on Monday morning, BenzingaRatingsTable reports. The brokerage currently has a buy rating on the utilities provider’s stock.
Several other brokerages also recently weighed in on PNM. Zacks Investment Research downgraded ExlService from a hold rating to a sell rating in a report on Wednesday, July 10th. Barclays restated a top pick rating and set a GBX 3,250 ($42.47) price target on shares of in a report on Wednesday, June 19th. Williams Capital restated a hold rating on shares of Southwest Gas in a report on Monday, March 18th. Bank of America upgraded Air Products & Chemicals from an underperform rating to a neutral rating and raised their price target for the company from $170.00 to $215.00 in a report on Thursday, April 25th. Finally, Wells Fargo & Co reiterated a buy rating on shares of Allergan in a report on Monday, June 10th. Three investment analysts have rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company’s stock. The stock currently has an average rating of Hold and a consensus price target of $50.19.
NYSE PNM opened at $50.31 on Monday. The stock has a market capitalization of $3.97 billion, a P/E ratio of 25.16, a PEG ratio of 4.34 and a beta of 0.29. PNM Resources has a 52 week low of $37.17 and a 52 week high of $52.10. The company has a debt-to-equity ratio of 1.66, a quick ratio of 0.59 and a current ratio of 0.69. The firm’s 50-day simple moving average is $50.13.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. LPL Financial LLC raised its stake in PNM Resources by 8.4% in the 4th quarter. LPL Financial LLC now owns 17,536 shares of the utilities provider’s stock worth $721,000 after purchasing an additional 1,364 shares in the last quarter. PNC Financial Services Group Inc. increased its holdings in PNM Resources by 38.9% in the 4th quarter. PNC Financial Services Group Inc. now owns 3,925 shares of the utilities provider’s stock valued at $162,000 after buying an additional 1,100 shares during the period. Great West Life Assurance Co. Can increased its holdings in PNM Resources by 4.8% in the 4th quarter. Great West Life Assurance Co. Can now owns 49,833 shares of the utilities provider’s stock valued at $1,900,000 after buying an additional 2,282 shares during the period. United Services Automobile Association increased its holdings in PNM Resources by 258.0% in the 4th quarter. United Services Automobile Association now owns 71,995 shares of the utilities provider’s stock valued at $2,958,000 after buying an additional 51,882 shares during the period. Finally, Dimensional Fund Advisors LP increased its holdings in PNM Resources by 1.9% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,753,107 shares of the utilities provider’s stock valued at $72,035,000 after buying an additional 33,289 shares during the period. 90.14% of the stock is currently owned by institutional investors.
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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