PNM Resources Inc (NYSE:PNM) Short Interest Update

PNM Resources Inc (NYSE:PNM) saw a significant decrease in short interest in August. As of August 31st, there was short interest totalling 768,000 shares, a decrease of 19.9% from the July 31st total of 958,600 shares. Approximately 1.0% of the shares of the stock are short sold. Based on an average daily volume of 394,800 shares, the days-to-cover ratio is currently 1.9 days.

A number of equities analysts have issued reports on PNM shares. Barclays reiterated a “sell” rating and set a $49.00 price target on shares of PNM Resources in a research report on Wednesday, June 19th. UBS Group raised their target price on PNM Resources from $50.00 to $53.00 and gave the company a “neutral” rating in a research report on Friday, September 6th. Zacks Investment Research downgraded PNM Resources from a “hold” rating to a “sell” rating in a research report on Wednesday, July 31st. Mizuho raised their target price on PNM Resources from $52.50 to $54.00 and gave the company a “buy” rating in a research report on Monday, July 15th. Finally, Wells Fargo & Co set a $52.00 target price on PNM Resources and gave the company a “hold” rating in a research report on Monday, July 15th. Three equities research analysts have rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company’s stock. PNM Resources currently has a consensus rating of “Hold” and a consensus price target of $50.83.

Shares of NYSE PNM traded down $0.57 during midday trading on Friday, hitting $50.17. The stock had a trading volume of 366,200 shares, compared to its average volume of 394,484. The company has a market capitalization of $3.94 billion, a PE ratio of 25.09, a P/E/G ratio of 4.34 and a beta of 0.23. The stock has a 50 day simple moving average of $50.36 and a 200-day simple moving average of $48.39. PNM Resources has a 1 year low of $37.67 and a 1 year high of $52.10. The company has a quick ratio of 0.34, a current ratio of 0.45 and a debt-to-equity ratio of 1.67.

PNM Resources (NYSE:PNM) last released its earnings results on Friday, August 2nd. The utilities provider reported $0.37 earnings per share for the quarter, meeting the consensus estimate of $0.37. The business had revenue of $330.23 million for the quarter. PNM Resources had a positive return on equity of 8.08% and a negative net margin of 1.69%. As a group, analysts expect that PNM Resources will post 2.08 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Friday, August 16th. Stockholders of record on Tuesday, August 6th were given a $0.29 dividend. The ex-dividend date of this dividend was Monday, August 5th. This represents a $1.16 annualized dividend and a dividend yield of 2.31%. PNM Resources’s dividend payout ratio (DPR) is presently 58.00%.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in PNM. TRUE Private Wealth Advisors acquired a new stake in shares of PNM Resources in the second quarter valued at approximately $28,000. Trust Co. of Vermont increased its holdings in shares of PNM Resources by 411.0% in the second quarter. Trust Co. of Vermont now owns 1,865 shares of the utilities provider’s stock valued at $95,000 after purchasing an additional 1,500 shares during the last quarter. Ladenburg Thalmann Financial Services Inc. increased its holdings in shares of PNM Resources by 54.2% in the second quarter. Ladenburg Thalmann Financial Services Inc. now owns 2,058 shares of the utilities provider’s stock valued at $105,000 after purchasing an additional 723 shares during the last quarter. Meeder Asset Management Inc. increased its holdings in shares of PNM Resources by 18.7% in the second quarter. Meeder Asset Management Inc. now owns 3,076 shares of the utilities provider’s stock valued at $157,000 after purchasing an additional 485 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale acquired a new stake in shares of PNM Resources in the second quarter valued at approximately $184,000. Institutional investors and hedge funds own 90.49% of the company’s stock.

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.

Featured Article: Operating Income

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.