Shares of PNM Resources, Inc. (NYSE:PNM) have earned an average recommendation of “Hold” from the nine ratings firms that are currently covering the stock, Marketbeat.com reports. Two investment analysts have rated the stock with a sell recommendation, five have issued a hold recommendation and one has assigned a buy recommendation to the company. The average 1 year price objective among analysts that have covered the stock in the last year is $50.00.
A number of research analysts recently weighed in on PNM shares. Citigroup reissued a “neutral” rating on shares of PNM Resources in a research report on Tuesday, March 9th. Williams Capital reaffirmed a “hold” rating on shares of PNM Resources in a research note on Friday, April 23rd.
PNM Resources stock opened at $49.15 on Friday. PNM Resources has a 1-year low of $36.93 and a 1-year high of $50.25. The company has a market capitalization of $4.22 billion, a price-to-earnings ratio of 19.27, a price-to-earnings-growth ratio of 4.09 and a beta of 0.52. The firm has a fifty day simple moving average of $49.31. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.22 and a quick ratio of 0.18.
Several hedge funds and other institutional investors have recently modified their holdings of PNM. Berman Capital Advisors LLC increased its stake in shares of PNM Resources by 1,291.7% in the first quarter. Berman Capital Advisors LLC now owns 668 shares of the utilities provider’s stock worth $32,000 after buying an additional 620 shares during the period. Meeder Asset Management Inc. increased its stake in shares of PNM Resources by 176.8% in the first quarter. Meeder Asset Management Inc. now owns 869 shares of the utilities provider’s stock worth $43,000 after buying an additional 555 shares during the period. Chicago Capital Management LLC purchased a new position in shares of PNM Resources in the first quarter worth $49,000. Captrust Financial Advisors increased its position in PNM Resources by 1,250.3% during the 1st quarter. Captrust Financial Advisors now owns 2,093 shares of the utilities provider’s stock valued at $103,000 after purchasing an additional 1,938 shares during the period. Finally, Ironwood Wealth Management LLC. purchased a new position in PNM Resources during the 4th quarter valued at $110,000. 82.45% of the stock is currently owned by institutional investors.
About PNM Resources
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.
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