1.38 is PNM Resources Inc’s (NYSE:PNM) Institutional Investor Sentiment

October 13, 2017 - By Linda Rogers

 1.38 is PNM Resources Inc's (NYSE:PNM) Institutional Investor Sentiment

Sentiment for PNM Resources Inc (NYSE:PNM)

PNM Resources Inc (NYSE:PNM) institutional sentiment increased to 1.38 in Q2 2017. Its up 0.34, from 1.04 in 2017Q1. The ratio improved, as 108 hedge funds increased or opened new stock positions, while 78 sold and decreased their equity positions in PNM Resources Inc. The hedge funds in our partner’s database now own: 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.

Wall Street await PNM Resources Inc (NYSE:PNM) to release earnings on October, 27 before the open. Analysts forecast EPS of $0.83, up exactly $0.05 or 6.41 % from 2014’s $0.78 EPS. The expected PNM’s profit could reach $66.04 million giving the stock 12.45 P/E in the case that $0.83 earnings per share is reported. After posting $0.49 EPS for the previous quarter, PNM Resources Inc’s analysts now forecast 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 buy, and 0 selling transactions 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 company was maintained on Monday, September 26 by SunTrust. The firm earned “Buy” rating on Thursday, September 22 by Argus Research. The firm has “Buy” rating by Jefferies given on Tuesday, September 20. The rating was maintained by Jefferies with “Hold” on Friday, July 21. The stock has “Buy” rating by Williams Capital Group on Tuesday, October 4. The stock of PNM Resources Inc (NYSE:PNM) earned “Buy” rating by Argus Research on Thursday, December 24. As per Wednesday, August 30, the company rating was maintained by Jefferies. Jefferies downgraded it to “Hold” rating and $34 target in Thursday, March 24 report. The stock of PNM Resources Inc (NYSE:PNM) has “Hold” rating given on Friday, August 18 by Ladenburg. Gabelli upgraded PNM Resources Inc (NYSE:PNM) rating on Monday, December 14. Gabelli has “Buy” rating and $36.0 target.

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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