PNM Resources (NYSE:PNM – Get Rating) updated its FY 2021 earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of $2.450-$2.450 for the period, compared to the Thomson Reuters consensus estimate of $2.550. The company issued revenue guidance of -.PNM Resources also updated its FY 2022 guidance to $2.500-$2.600 EPS.
Several equities analysts have recently commented on the company. Barclays decreased their target price on PNM Resources from $50.00 to $45.00 and set an underweight rating on the stock in a research report on Friday, December 10th. They noted that the move was a valuation call. Mizuho upped their target price on PNM Resources from $47.00 to $53.00 and gave the company a neutral rating in a research report on Wednesday, February 9th. StockNews.com downgraded PNM Resources from a buy rating to a hold rating in a research report on Tuesday, March 8th. Finally, Wells Fargo & Company raised PNM Resources from an equal weight rating to an overweight rating and set a $50.00 price target on the stock in a research report on Monday, December 13th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of Hold and an average target price of $49.33.
Shares of PNM stock opened at $46.13 on Friday. The stock’s fifty day moving average price is $45.23 and its two-hundred day moving average price is $47.19. The company has a market cap of $3.96 billion, a PE ratio of 20.32, a P/E/G ratio of 3.58 and a beta of 0.48. PNM Resources has a fifty-two week low of $43.84 and a fifty-two week high of $50.11. The company has a debt-to-equity ratio of 1.58, a quick ratio of 0.39 and a current ratio of 0.49.
PNM Resources (NYSE:PNM – Get Rating) last issued its earnings results on Thursday, February 3rd. The utilities provider reported $0.21 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.16 by $0.05. PNM Resources had a return on equity of 9.76% and a net margin of 11.24%. On average, equities analysts predict that PNM Resources will post 2.55 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, May 13th. Shareholders of record on Friday, April 29th will be issued a $0.347 dividend. This represents a $1.39 dividend on an annualized basis and a dividend yield of 3.01%. The ex-dividend date of this dividend is Thursday, April 28th. PNM Resources’s dividend payout ratio is presently 61.23%.
Institutional investors and hedge funds have recently made changes to their positions in the company. Legal & General Group Plc lifted its stake in shares of PNM Resources by 3.4% in the 4th quarter. Legal & General Group Plc now owns 704,483 shares of the utilities provider’s stock valued at $32,131,000 after acquiring an additional 22,896 shares during the last quarter. Goldman Sachs Group Inc. lifted its stake in shares of PNM Resources by 7.1% in the 4th quarter. Goldman Sachs Group Inc. now owns 628,495 shares of the utilities provider’s stock valued at $28,666,000 after acquiring an additional 41,495 shares during the last quarter. Invesco Ltd. raised its position in PNM Resources by 2.9% during the 4th quarter. Invesco Ltd. now owns 159,548 shares of the utilities provider’s stock worth $7,276,000 after purchasing an additional 4,456 shares during the last quarter. California State Teachers Retirement System raised its position in PNM Resources by 2.1% during the 4th quarter. California State Teachers Retirement System now owns 115,310 shares of the utilities provider’s stock worth $5,259,000 after purchasing an additional 2,352 shares during the last quarter. Finally, Sei Investments Co. raised its position in PNM Resources by 883.3% during the 4th quarter. Sei Investments Co. now owns 111,190 shares of the utilities provider’s stock worth $5,072,000 after purchasing an additional 99,882 shares during the last quarter. Institutional investors own 85.15% of the company’s stock.
PNM Resources Company Profile (Get Rating)
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. The PNM segment includes the retail electric utility operations of the company.
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