SunTrust Banks set a $34.00 target price on PNM Resources (NYSE:PNM) in a research report report published on Monday morning. The firm currently has a hold rating on the utilities provider’s stock.

Other equities research analysts have also recently issued research reports about the company. Zacks Investment Research upgraded PNM Resources from a hold rating to a buy rating and set a $48.00 target price on the stock in a research note on Wednesday, November 1st. Royal Bank of Canada restated a hold rating and issued a $40.00 target price on shares of PNM Resources in a research note on Thursday, February 1st. Mizuho upgraded PNM Resources from an underperform rating to a neutral rating and set a $37.00 target price on the stock in a research note on Tuesday, January 23rd. UBS Group started coverage on PNM Resources in a research note on Friday, February 2nd. They set a sell rating and a $36.00 price objective on the stock. Finally, Bank of America started coverage on PNM Resources in a research note on Tuesday, October 24th. They set an underperform rating and a $38.00 price objective on the stock. Four analysts have rated the stock with a sell rating, ten have assigned a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company. The stock presently has a consensus rating of Hold and an average price target of $39.38.

Shares of PNM Resources (NYSE:PNM) opened at $34.60 on Monday. The company has a market capitalization of $2,783.89, a P/E ratio of 17.13, a price-to-earnings-growth ratio of 3.49 and a beta of 0.26. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.53 and a quick ratio of 0.43. PNM Resources has a 12 month low of $33.75 and a 12 month high of $46.00.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, February 1st. Stockholders of record on Thursday, January 18th were paid a dividend of $0.265 per share. The ex-dividend date was Wednesday, January 17th. This represents a $1.06 dividend on an annualized basis and a dividend yield of 3.06%. This is a boost from PNM Resources’s previous quarterly dividend of $0.24. PNM Resources’s dividend payout ratio is currently 53.27%.

Institutional investors have recently made changes to their positions in the company. Meeder Asset Management Inc. bought a new stake in shares of PNM Resources during the 3rd quarter worth approximately $170,000. Flinton Capital Management LLC raised its stake in PNM Resources by 71.4% in the 2nd quarter. Flinton Capital Management LLC now owns 4,416 shares of the utilities provider’s stock valued at $169,000 after acquiring an additional 1,840 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in PNM Resources by 41.1% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,807 shares of the utilities provider’s stock valued at $194,000 after acquiring an additional 1,399 shares during the period. Parametrica Management Ltd bought a new stake in PNM Resources in the 4th quarter valued at $200,000. Finally, Zeke Capital Advisors LLC bought a new stake in PNM Resources in the 4th quarter valued at $201,000. Institutional investors own 92.35% of the company’s stock.

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About PNM Resources

PNM Resources, Inc (PNMR) is an investor-owned holding company with approximately two regulated utilities providing electricity and electric services in New Mexico and Texas. PNMR’s electric utilities are Public Service Company of New Mexico (PNM) and Texas-New Mexico Power Company (TNMP). It operates in three segments: PNM, TNMP, and Corporate and Other.

Analyst Recommendations for PNM Resources (NYSE:PNM)

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