PNM Resources (NYSE:PNM – Get Rating) was upgraded by equities researchers at Mizuho from a “neutral” rating to a “buy” rating in a research report issued on Wednesday, Marketbeat Ratings reports. The firm presently has a $52.00 price target on the utilities provider’s stock, down from their prior price target of $53.00. Mizuho’s target price would indicate a potential upside of 11.42% from the company’s previous close.
Separately, StockNews.com started coverage on shares of PNM Resources in a report on Thursday, March 31st. They issued a “hold” rating on the stock. One research analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, PNM Resources presently has a consensus rating of “Hold” and a consensus price target of $49.00.
NYSE PNM opened at $46.67 on Wednesday. PNM Resources has a 52 week low of $43.43 and a 52 week high of $50.11. The company has a quick ratio of 0.34, a current ratio of 0.45 and a debt-to-equity ratio of 1.67. The business’s fifty day simple moving average is $46.65 and its 200-day simple moving average is $46.02. The firm has a market cap of $4.01 billion, a PE ratio of 20.65, a P/E/G ratio of 4.00 and a beta of 0.46.
Institutional investors have recently added to or reduced their stakes in the company. Dark Forest Capital Management LP purchased a new position in PNM Resources in the third quarter worth $31,000. Allegheny Financial Group LTD acquired a new stake in PNM Resources in the fourth quarter valued at $32,000. Lazard Asset Management LLC acquired a new stake in shares of PNM Resources during the fourth quarter valued at $32,000. CWM LLC acquired a new stake in shares of PNM Resources during the fourth quarter valued at $39,000. Finally, Trust Co. of Vermont acquired a new stake in shares of PNM Resources during the fourth quarter valued at $68,000. Institutional investors and hedge funds own 86.59% of the company’s stock.
About PNM Resources (Get Rating)
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.
- Get a free copy of the StockNews.com research report on PNM Resources (PNM)
- Zai Lab Stock Has Fallen to Value Levels
- Are These Cheap Copper Stocks Right For Your Portfolio?
- It’s A Comfortable Time To Buy Steelcase
- Worthington Posts Strong Results, But Earnings Fall On One-Off Adjustments
- A Tasty Entry Point Into Darden Restaurants International
Receive News & Ratings for PNM Resources Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PNM Resources and related companies with MarketBeat.com's FREE daily email newsletter.