Jefferies Keeps a Hold Rating on Pnm Resources Inc

By Carrie Williams

Jefferies analyst Anthony Crowdell reiterated a Hold rating on Pnm Resources Inc (NYSE: PNM) yesterday and set a price target of $43. The company’s shares opened today at $42.30, close to its 52-week high of $42.95.

According to TipRanks.com, Crowdell is a 4-star analyst with an average return of 7.5% and a 75.6% success rate. Crowdell covers the Utilities sector, focusing on stocks such as Public Service Enterprise, El Paso Electric Company, and American Electric Power.

Currently, the analyst consensus on Pnm Resources Inc is Hold and the average price target is $41.33, representing a -2.3% downside.

In a report issued on August 18, RBC Capital also downgraded the stock to Hold with a $40 price target.

Pnm Resources Inc’s market cap is currently $3.37B and has a P/E ratio of 24.17. The company has a book value ratio of 1.9507.

Based on the recent corporate insider activity of 34 insiders, corporate insider sentiment is negative on the stock. Earlier this month, Patrick Apodaca, the SR VP, GEN COUNSEL & SECY of PNM sold 5,333 shares for a total of $215,613.

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.