Pnm Resources (PNM) Receives a Hold from Barclays

By Ryan Adsit

Barclays analyst Eric Beaumont maintained a Hold rating on Pnm Resources (PNMResearch Report) today and set a price target of $40.00. The company’s shares closed last Monday at $37.20.

According to TipRanks.com, Beaumont is a 3-star analyst with an average return of 1.0% and a 47.5% 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 $51.20 average price target, which is a 49.8% upside from current levels. In a report issued on March 11, RBC Capital also maintained a Hold rating on the stock with a $53.00 price target.

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Based on Pnm Resources’ latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $344 million and net profit of $31.94 million. In comparison, last year the company earned revenue of $344 million and 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.