PNM Resources (NYSE:PNM) Price Target Increased to $54.00 by Analysts at Mizuho

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.

PNM Resources (NYSE:PNM) last released its quarterly earnings data on Tuesday, May 7th. The utilities provider reported $0.13 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.11 by $0.02. The business had revenue of $349.65 million for the quarter, compared to the consensus estimate of $273.12 million. PNM Resources had a net margin of 6.10% and a return on equity of 8.68%. The company’s revenue was up 10.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.21 earnings per share. As a group, equities research analysts expect that PNM Resources will post 2.08 EPS for the current fiscal year.

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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Analyst Recommendations for PNM Resources (NYSE:PNM)

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