Pnm Resources (PNM) Gets a Hold Rating from Barclays

By Carrie Williams

In a report released yesterday, Eric Beaumont from Barclays maintained a Hold rating on Pnm Resources (PNMResearch Report), with a price target of $52.00. The company’s shares closed last Monday at $39.50, close to its 52-week low of $38.53.

According to TipRanks.com, Beaumont is a 3-star analyst with an average return of 1.2% and a 47.3% success rate. Beaumont covers the Utilities sector, focusing on stocks such as Brookfield Infrastructure, Public Service Enterprise, and American Electric Power.

The word on The Street in general, suggests a Hold analyst consensus rating for Pnm Resources with a $53.60 average price target, representing a 25.8% upside. In a report issued on February 28, Wells Fargo also maintained a Hold rating on the stock.

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Based on Pnm Resources’ latest earnings release for the quarter ending December 31, the company reported a quarterly net profit of $31.94 million. In comparison, last year the company had a GAAP net loss of $54.95 million.

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Public Service Co. of New Mexico provides electricity and electric services. It offers payment options, billing, save money and energy and business energy analyzer. The company was founded in 1917 and is headquartered in Albuquerque, NM.