PNM Resources Inc. (NYSE:PNM) updated its FY16 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of $1.55-1.65 for the period, compared to the Thomson Reuters consensus estimate of $1.58.
Several research analysts have recently issued reports on the stock. Zacks Investment Research upgraded shares of PNM Resources from a sell rating to a hold rating in a report on Wednesday, September 28th. Argus cut their target price on shares of PNM Resources from $40.00 to $38.00 and set a buy rating for the company in a research note on Thursday, September 22nd. Williams Capital raised shares of PNM Resources from a hold rating to a buy rating and set a $35.00 target price for the company in a research note on Tuesday. SunTrust Banks Inc. cut their target price on shares of PNM Resources from $34.00 to $33.00 and set a neutral rating for the company in a research note on Monday, September 12th. Finally, Jefferies Group reissued a hold rating on shares of PNM Resources in a research note on Monday, July 18th. Three equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The stock currently has a consensus rating of Buy and a consensus price target of $36.21.
Shares of PNM Resources Inc. (NYSE:PNM) traded down 0.06% during midday trading on Thursday, hitting $31.43. 520,523 shares of the company traded hands. The stock’s 50-day moving average is $32.69 and its 200 day moving average is $33.14. PNM Resources Inc. has a 12-month low of $26.56 and a 12-month high of $36.15. The stock has a market capitalization of $2.50 billion, a P/E ratio of 345.38 and a beta of 0.38.
PNM Resources (NYSE:PNM) last posted its quarterly earnings data on Monday, August 8th. The company reported $0.40 earnings per share for the quarter, beating the consensus estimate of $0.39 by $0.01. The firm earned $315.39 million during the quarter, compared to analysts’ expectations of $379 million. PNM Resources had a net margin of 0.54% and a return on equity of 7.00%. The company’s quarterly revenue was down 10.6% compared to the same quarter last year. During the same quarter last year, the company posted $0.44 EPS. On average, analysts expect that PNM Resources Inc. will post $1.58 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 14th. Shareholders of record on Monday, October 31st will be given a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 2.80%. The ex-dividend date is Thursday, October 27th. PNM Resources’s payout ratio is presently 1,100.00%.
Several large investors have recently modified their holdings of the company. Point72 Asset Management L.P. acquired a new stake in shares of PNM Resources during the second quarter valued at approximately $2,892,000. AQR Capital Management LLC boosted its stake in shares of PNM Resources by 5.2% in the second quarter. AQR Capital Management LLC now owns 819,299 shares of the company’s stock valued at $29,036,000 after buying an additional 40,485 shares in the last quarter. Capstone Investment Advisors LLC boosted its stake in shares of PNM Resources by 41.3% in the second quarter. Capstone Investment Advisors LLC now owns 18,232 shares of the company’s stock valued at $646,000 after buying an additional 5,332 shares in the last quarter. Guggenheim Capital LLC boosted its stake in shares of PNM Resources by 14.6% in the second quarter. Guggenheim Capital LLC now owns 90,594 shares of the company’s stock valued at $3,211,000 after buying an additional 11,547 shares in the last quarter. Finally, Barclays PLC boosted its stake in shares of PNM Resources by 5.8% in the second quarter. Barclays PLC now owns 10,443 shares of the company’s stock valued at $371,000 after buying an additional 569 shares in the last quarter. Institutional investors own 92.60% of the company’s stock.
PNM Resources Company Profile
PNM Resources, Inc (PNMR) is an investor-owned holding company 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).
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