PNM Resources (NYSE:PNM) has been upgraded from Hold to Buy in a report by Jefferies today.
- Updated: September 20, 2016
Jefferies has upgraded PNM Resources(NYSE:PNM) from Hold to Buy in a report released on Tuesday September 20 2016.
Boasting a price of $33.01, PNM Resources (NYSE:PNM) traded 1.79% higher on the day. The last stock price is down 0.39% relative to the two hundred day moving average, compared to the Standard & Poor’s 500 Index which has decreased -0.01% over the same time. The company has recorded a 50-day moving average of $32.67 and two hundred day moving average of $33.14. 412,598 shares of PNM traded, down from ann average trading volume of 532,234
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PNM Resources has a 52 week low of $25.92 and a one-year high of $36.15 with a PE ratio of 363 and has a market capitalization of $0.0.
In addition to Jefferies reporting it’s target price, a total of 6 brokerages have issued a ratings update on the stock. The 12-month target stock price is $34.83 with four analysts rating the stock a strong buy, three analysts rating the stock a buy, two analyts rating the stock a hold, 0 rating the stock to underperform, and lastly 0 analystsrating the company as sell.
More About PNM Resources (NYSE:PNM)
PNM Resources, Inc. (PNMR) is an investor-owned holding company with approximately two regulated utilities providing electricity and electric services in New Mexico and Texas. PNMR’s electric utilities are Public Service Company of New Mexico and Subsidiaries (PNM) and Texas-New Mexico Power Company and Subsidiaries (TNMP). It operates in three segments: PNM, TNMP, and Corporate and Other. The Company, through its Website www.pnmresources.com, provides information, including news releases, notices of Webcasts, and filings with the Securities and Exchange Commission (SEC). PNM is an electric utility that provides electric generation, and transmission and distribution service to its rate-regulated customers. TNMP is a regulated utility operating in Texas. TNMP provides transmission and distribution services in Texas under the provisions of Texas Electric Choice Act (TECA) and the Texas Public Utility Regulatory Act.
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