PNM Resources Inc Sentiment Improves on Better Stock Potential

October 13, 2017 - By Darrin Black

 PNM Resources Inc Sentiment  Improves on Better Stock Potential

Sentiment for PNM Resources Inc (NYSE:PNM)

PNM Resources Inc (NYSE:PNM) institutional sentiment increased to 1.38 in 2017 Q2. Its up 0.34, from 1.04 in 2017Q1. The ratio is better, as 108 hedge funds opened new and increased stock positions, while 78 decreased and sold their equity positions in PNM Resources Inc. The hedge funds in our partner’s database now have: 73.63 million shares, down from 73.75 million shares in 2017Q1. Also, the number of hedge funds holding PNM Resources Inc in their top 10 stock positions was flat from 1 to 1 for the same number . Sold All: 16 Reduced: 62 Increased: 79 New Position: 29.

PNM Resources, Inc. is an investor-owned holding firm with approximately two regulated utilities providing electricity and electric services in New Mexico and Texas. The company has market cap of $3.29 billion. PNMR’s electric utilities are Public Service Company of New Mexico (PNM) and Texas-New Mexico Power Company (TNMP). It has a 23.73 P/E ratio. It operates in three divisions: PNM, TNMP, and Corporate and Other.

It closed at $41.35 lastly. It is down 13.69% since October 13, 2016 and is uptrending. It has underperformed by 3.01% the S&P500.

Analysts await PNM Resources Inc (NYSE:PNM) to report earnings on October, 27 before the open. They expect $0.83 earnings per share, up 6.41 % or $0.05 from last year’s $0.78 per share. PNM’s profit will be $65.82 million for 12.50 P/E if the $0.83 EPS becomes a reality. After $0.49 actual earnings per share reported by PNM Resources Inc for the previous quarter, Wall Street now forecasts 69.39 % EPS growth.

Crow Point Partners Llc holds 4.91% of its portfolio in PNM Resources Inc for 775,000 shares. Deroy & Devereaux Private Investment Counsel Inc owns 316,083 shares or 1.39% of their US portfolio. Moreover, Mesirow Financial Investment Management has 1.01% invested in the company for 392,551 shares. The New York-based Gabelli Funds Llc has invested 0.69% in the stock. Smith Graham & Co. Investment Advisors Lp, a Texas-based fund reported 159,620 shares.#img1#

Since January 1, 0001, it had 1 insider purchase, and 0 sales for $97,450 activity.

PNM Resources Inc (NYSE:PNM) Ratings Coverage

Ratings analysis reveals 18% of PNM Resources’s analysts are positive. Out of 11 Wall Street analysts rating PNM Resources, 2 give it “Buy”, 3 “Sell” rating, while 6 recommend “Hold”. The lowest target is $26 while the high is $43.0. The stock’s average target of $36.85 is -10.88% below today’s ($41.35) share price. PNM was included in 35 notes of analysts from July 22, 2015. The firm earned “Outperform” rating on Thursday, March 9 by RBC Capital Markets. The rating was maintained by Barclays Capital with “Overweight” on Thursday, September 29. The firm has “Hold” rating given on Friday, July 21 by Jefferies. On Tuesday, September 26 the stock rating was downgraded by Evercore to “Underperform”. The rating was upgraded by Jefferies to “Buy” on Tuesday, September 20. The stock of PNM Resources Inc (NYSE:PNM) earned “Hold” rating by Jefferies on Wednesday, August 30. The company was maintained on Monday, March 21 by Argus Research. The rating was maintained by Argus Research with “Buy” on Thursday, December 24. The rating was downgraded by RBC Capital Markets on Friday, August 18 to “Sector Perform”. The stock of PNM Resources Inc (NYSE:PNM) earned “Hold” rating by Jefferies on Friday, October 6.

Another recent and important PNM Resources Inc (NYSE:PNM) news was published by Seekingalpha.com which published an article titled: “PNM Resources’ (PNM) CEO Pat Vincent-Collawn on Q2 2017 Results – Earnings …” on July 28, 2017.

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