Pnm Resources Inc (PNM) Receives a Sell from Barclays


In a report released yesterday, Eric Beaumont from Barclays maintained a Sell rating on Pnm Resources Inc (PNM), with a price target of $49. The company’s shares opened today at $50.70, close to its 52-week high of $51.32.

According to TipRanks.com, Beaumont is a 2-star analyst with an average return of -0.3% and a 50.0% success rate. Beaumont covers the Utilities sector, focusing on stocks such as Pinnacle West Capital Corp, Consolidated Edison, Inc., and American Electric Power.

The word on The Street in general, suggests a Hold analyst consensus rating for Pnm Resources Inc with a $49.70 average price target.

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Based on Pnm Resources Inc’s latest earnings release for the quarter ending March 31, the company reported a quarterly net profit of $18.83 million. In comparison, last year the company had a net profit of $15.12 million.

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PNM Resources, Inc. operates as an investor-owned holding company, which provides electricity and electric services in New Mexico and Texas. It operates through the following segments: Public Service Company of New Mexico (PNM), Texas-New Mexico Power Company (TNMP), and Corporate and Other.

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