PNM Resources Inc (PNM) is Upgraded by Jefferies to Buy

PNM Resources Inc (PNM) was Upgraded by Jefferies to ” Buy”. Earlier the firm had a rating of “Hold ” on the company shares. Jefferies advised their investors in a research report released on Sep 20, 2016.

On the company’s financial health, PNM Resources Inc reported $0.40 EPS for the quarter, beating the analyst consensus estimate by $ 0.01 according to the earnings call on Aug 8, 2016. Analyst had a consensus of $0.39. The company had revenue of $315.39 million for the quarter.The company’s revenue was down -10.6 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.44 EPS.

PNM Resources Inc opened for trading at $31.89 and hit $32.46 on the upside on Friday, eventually ending the session at $32.43, with a gain of 1.60% or 0.51 points. The heightened volatility saw the trading volume jump to 813,819 shares. Company has a market cap of $2,583 M.

In a different news, on Mar 17, 2016, Ronald N. Darnell (SVP, PUBLIC POLICY) sold 113 shares at $33.05 per share price. According to the SEC, on Mar 14, 2016, Charles N Eldred (EXEC VP, CFO) sold 1,550 shares at $33.29 per share price. On Mar 8, 2016, Patrick V Apodaca (SR VP, GEN COUNSEL & SECY) sold 3,800 shares at $33.04 per share price, according to the Form-4 filing with the securities and exchange commission.

PNM Resources Inc. (PNMR) is an investor-owned holding company of energy and energy-related businesses. The Company’s business segments include PNM TNMP and Corporate and Other. PNM is an electric utility that provides electric generation transmission and distribution service to its rate-regulated customers. TNMP is an electric utility providing regulated transmission and distribution services in Texas under the provisions of Texas Electric Choice Act (TECA) and the Texas Public Utility Regulatory Act. The Corporate and Other segment includes PNMR holding company activities primarily related to corporate level debt and PNMR Services Company. The Company’s primary subsidiaries include Public Service Company of New Mexico (PNM) and Texas-New Mexico Power Company (TNMP).

PNM Resources Inc

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