Market Runner: PNM Resources Inc (NYSE:PNM) Move Up as Institutional Investors’ Sentiment Crashes

December 1, 2016 - By Ellis Scott   ·   0 Comments

Market Runner: PNM Resources Inc (NYSE:PNM) Move Up as Institutional Investors' Sentiment  Crashes

Sentiment for PNM Resources Inc (NYSE:PNM)

PNM Resources Inc (NYSE:PNM) institutional sentiment decreased to 0.79 in Q2 2016. Its down -0.39, from 1.18 in 2016Q1. The ratio turned negative, as 107 investment managers increased or started new equity positions, while 91 sold and reduced equity positions in PNM Resources Inc. The investment managers in our partner’s database now have: 72.87 million shares, up from 72.20 million shares in 2016Q1. Also, the number of investment managers holding PNM Resources Inc in their top 10 equity positions was flat from 2 to 2 for the same number . Sold All: 19 Reduced: 72 Increased: 81 New Position: 26.

PNM Resources, Inc. is an investor-owned holding firm with approximately two regulated utilities providing electricity and electric services in New Mexico and Texas. The company has a market cap of $2.37 billion. PNMR’s electric utilities are Public Service Company of New Mexico and Subsidiaries (PNM) and Texas-New Mexico Power Company and Subsidiaries (TNMP). It has a 3784.85 P/E ratio. It operates in three divisions: PNM, TNMP, and Corporate and Other.

About 436,424 shares traded hands. PNM Resources Inc (NYSE:PNM) has risen 0.77% since April 28, 2016 and is uptrending. It has underperformed by 5.16% the S&P500.

Analysts await PNM Resources Inc (NYSE:PNM) to report earnings on February, 24. They expect $0.29 earnings per share, up 26.09% or $0.06 from last year’s $0.23 per share. PNM’s profit will be $22.01M for 26.92 P/E if the $0.29 EPS becomes a reality. After $0.78 actual earnings per share reported by PNM Resources Inc for the previous quarter, Wall Street now forecasts -62.82% negative EPS growth.

According to Zacks Investment Research, “PNM Resources is an energy holding company based in Albuquerque, New Mexico. Its principal subsidiary is Public Service Company of New Mexico, which provides electric power and natural gas utility services to more than 1.3 million people in New Mexico. The company also sells power on the wholesale market in the Western U.S.”

Mesirow Financial Investment Management holds 2.03% of its portfolio in PNM Resources Inc for 984,440 shares. Deroy & Devereaux Private Investment Counsel Inc owns 310,579 shares or 1.46% of their US portfolio. Moreover, Perkins Investment Management Llc has 1.01% invested in the company for 1.89 million shares. The Missouri-based Piermont Capital Management Inc. has invested 0.96% in the stock. Smith Graham & Co. Investment Advisors Lp, a Texas-based fund reported 150,680 shares.#img1#

PNM Resources Inc (NYSE:PNM) Ratings Coverage

Ratings analysis reveals 83% of PNM Resources’s analysts are positive. Out of 6 Wall Street analysts rating PNM Resources, 5 give it “Buy”, 0 “Sell” rating, while 1 recommend “Hold”. The lowest target is $26 while the high is $38. The stock’s average target of $34.71 is 11.14% above today’s ($31.23) share price. PNM was included in 18 notes of analysts from July 22, 2015. The firm earned “Buy” rating on Thursday, December 24 by Argus Research. The stock has “Overweight” rating given by Barclays Capital on Monday, November 30. The stock of PNM Resources Inc (NYSE:PNM) has “Buy” rating given on Tuesday, September 20 by Jefferies. The stock of PNM Resources Inc (NYSE:PNM) has “Buy” rating given on Monday, March 21 by Argus Research. The rating was maintained by Barclays Capital with “Overweight” on Thursday, September 29. SunTrust maintained the stock with “Neutral” rating in Monday, September 26 report. Zacks downgraded the stock to “Buy” rating in Wednesday, August 5 report. The stock of PNM Resources Inc (NYSE:PNM) earned “Overweight” rating by Barclays Capital on Friday, March 18. The rating was upgraded by Williams Capital Group on Tuesday, October 4 to “Buy”. On Wednesday, July 22 the stock rating was maintained by Argus Research with “Buy”.

PNM Company Profile

PNM Resources, Inc. (PNMR), incorporated on March 3, 2000, is an investor-owned holding firm 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 divisions: PNM, TNMP, and Corporate and Other.

More recent PNM Resources Inc (NYSE:PNM) news were published by: Nasdaq.com which released: “PNM Resources Inc. Earnings Advance 2% In Q3” on October 28, 2016. Also Prnewswire.com published the news titled: “PNM Resources to Announce 2016 Third Quarter Earnings on October 28” on October 14, 2016. Prnewswire.com‘s news article titled: “PNM Resources Applauds Facebook Selection of New Mexico as Site for New Data …” with publication date: September 14, 2016 was also an interesting one.

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By Ellis Scott


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