Barclays Raises PNM Resources (NYSE:PNM) Price Target to $43.00

PNM Resources (NYSE:PNM - Free Report) had its price objective increased by Barclays from $40.00 to $43.00 in a research note published on Monday morning, Benzinga reports. Barclays currently has an overweight rating on the utilities provider's stock.

PNM has been the subject of several other research reports. TheStreet lowered PNM Resources from a b- rating to a c+ rating in a report on Thursday, January 4th. Wells Fargo & Company raised PNM Resources from an equal weight rating to an overweight rating and set a $44.00 price objective for the company in a report on Wednesday, January 3rd. Mizuho lowered PNM Resources from a buy rating to a neutral rating and set a $41.00 price objective for the company. in a report on Wednesday, January 3rd. Finally, StockNews.com lowered PNM Resources from a hold rating to a sell rating in a report on Wednesday, January 17th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of Hold and a consensus target price of $46.80.

PNM Resources Stock Performance

Shares of NYSE PNM traded down $0.09 during mid-day trading on Monday, reaching $36.14. 506,080 shares of the company's stock were exchanged, compared to its average volume of 1,486,500. The firm has a market capitalization of $3.26 billion, a price-to-earnings ratio of 35.09, a price-to-earnings-growth ratio of 0.37 and a beta of 0.35. PNM Resources has a 52 week low of $34.63 and a 52 week high of $49.08. The company has a debt-to-equity ratio of 1.77, a current ratio of 0.39 and a quick ratio of 0.31. The firm has a 50-day moving average price of $37.18 and a two-hundred day moving average price of $39.84.

PNM Resources (NYSE:PNM - Get Free Report) last announced its quarterly earnings data on Tuesday, February 6th. The utilities provider reported $0.18 earnings per share for the quarter, topping the consensus estimate of $0.14 by $0.04. PNM Resources had a return on equity of 10.51% and a net margin of 4.54%. The company had revenue of $412.11 million during the quarter, compared to analyst estimates of $705.05 million. During the same quarter last year, the firm posted $0.15 EPS. Analysts predict that PNM Resources will post 2.66 EPS for the current year.

PNM Resources Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 10th. Shareholders of record on Friday, April 26th will be given a $0.387 dividend. The ex-dividend date of this dividend is Thursday, April 25th. This represents a $1.55 annualized dividend and a yield of 4.28%. PNM Resources's payout ratio is currently 150.49%.

Institutional Trading of PNM Resources

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Fortis Group Advisors LLC increased its stake in shares of PNM Resources by 100.0% during the fourth quarter. Fortis Group Advisors LLC now owns 800 shares of the utilities provider's stock valued at $33,000 after buying an additional 400 shares during the period. GAMMA Investing LLC grew its stake in PNM Resources by 106.4% in the first quarter. GAMMA Investing LLC now owns 834 shares of the utilities provider's stock worth $31,000 after purchasing an additional 430 shares during the period. State of Wyoming purchased a new stake in PNM Resources in the fourth quarter worth $46,000. International Assets Investment Management LLC grew its stake in PNM Resources by 4,061.5% in the fourth quarter. International Assets Investment Management LLC now owns 1,082 shares of the utilities provider's stock worth $45,000 after purchasing an additional 1,056 shares during the period. Finally, Allworth Financial LP grew its stake in PNM Resources by 59.5% in the third quarter. Allworth Financial LP now owns 1,088 shares of the utilities provider's stock worth $49,000 after purchasing an additional 406 shares during the period. Institutional investors own 91.68% of the company's stock.

PNM Resources Company Profile

PNM Resources, Inc, through its subsidiaries, provides electricity and electric services 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 engages in the generation, transmission, and distribution of electricity.