Pnm Resources Inc Receives a Buy from RBC Capital

By Austin Angelo

RBC Capital analyst Insoo Kim reiterated a Buy rating on Pnm Resources Inc (NYSE: PNM) today and set a price target of $38. The company’s shares closed yesterday at $35.85, close to its 52-week high of $36.75.

Kim has an average return of 9.5% when recommending Pnm Resources Inc.

According to TipRanks.com, Kim is ranked #536 out of 4514 analysts.

Pnm Resources Inc has an analyst consensus of Moderate Buy, with a price target consensus of $36.83.

Pnm Resources Inc’s market cap is currently $2.86B and has a P/E ratio of 24.55. The company has a book value ratio of 1.7039.

Based on the recent corporate insider activity of 36 insiders, corporate insider sentiment is neutral on the stock. Earlier this month, Ronald Darnell, the SVP, PUBLIC POLICY of PNM sold 113 shares for a total of $3,735.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

PNM Resources, Inc. operates as an investor-owned holding company which provides electricity and energy efficiency products and services in New Mexico and Texas. The company operates through its two regulated utilities: Public Service Company of New Mexico and Texas-New Mexico Power Company. The Public Service Company of New Mexico utility provides electric generation, transmission, and distribution service to its rate-regulated customers. It also provides transmission services to third parties as well as the generation and sale of electricity into the wholesale market. The Texas-New Mexico Power Company utility provides transmission and distribution services in Texas. PNM Resources was founded in 2000 and is headquartered in Albuquerque, NM.