SunTrust Robinson Humphrey Maintains PNM Resources Inc to Neutral with Price Target $34.00

Brokerage firm SunTrust Robinson Humphrey Maintains its rating on PNM Resources Inc(NYSE:PNM). In a research note issued to the investors, the brokerage major Lowers the price-target to $34.00 per share. The shares have been rated Neutral. The rating by SunTrust Robinson Humphrey was issued on Aug 29, 2016.

PNM Resources Inc (PNM) shares turned negative on Thursdays trading session with the shares closing down -0.23 points or -0.72% at a volume of 3,80,068. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $31.875. The peak price level was also seen at $31.875 while the days lowest was $31.47. Finally the shares closed at $31.56. The 52-week high of the shares is $36.15 while the 52-week low is $24.645. According to the latest information available, the market cap of the company is $2,514 M.

PNM Resources Inc(PNM) last announced its earnings results on Aug 8, 2016 for Fiscal Year 2016 and Q2.Company reported revenue of $315.39M. Analysts had an estimated revenue of $379.00M. Earnings per share were $0.40. Analysts had estimated an EPS of $0.37.

Several Insider Transactions has been reported to the SEC. On Mar 17, 2016, Ronald N. Darnell (SVP, PUBLIC POLICY) sold 113 shares at $33.05 per share price.Also, 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).

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