PNM Resources Inc. (NYSE:PNM) – Analysts at SunTrust Banks dropped their Q3 2017 EPS estimates for shares of PNM Resources in a research report issued on Friday. SunTrust Banks analyst A. Agha now forecasts that the firm will earn $0.84 per share for the quarter, down from their prior estimate of $0.87. SunTrust Banks has a “Neutral” rating and a $35.00 price target on the stock. SunTrust Banks also issued estimates for PNM Resources’ Q4 2017 earnings at $0.38 EPS, FY2017 earnings at $1.83 EPS and FY2018 earnings at $2.03 EPS.
Other equities analysts also recently issued reports about the stock. Argus reduced their target price on shares of PNM Resources from $40.00 to $38.00 and set a “buy” rating for the company in a report on Thursday, September 22nd. Zacks Investment Research upgraded shares of PNM Resources from a “sell” rating to a “hold” rating in a report on Wednesday, September 28th. Williams Capital reiterated a “hold” rating on shares of PNM Resources in a report on Wednesday, September 21st. Jefferies Group reiterated a “hold” rating on shares of PNM Resources in a report on Monday, July 18th. Finally, TheStreet downgraded shares of PNM Resources from a “buy” rating to a “hold” rating in a report on Friday, August 26th. Four equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $36.42.
PNM Resources (NYSE:PNM) last released its earnings results on Monday, August 8th. The company reported $0.40 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.39 by $0.01. The firm earned $315.39 million during the quarter, compared to analyst estimates of $379 million. PNM Resources had a return on equity of 7.00% and a net margin of 0.54%. The business’s quarterly revenue was down 10.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.44 earnings per share.
A number of large investors have recently modified their holdings of the stock. Capstone Asset Management Co. raised its stake in shares of PNM Resources by 0.6% in the second quarter. Capstone Asset Management Co. now owns 6,636 shares of the company’s stock worth $235,000 after buying an additional 40 shares in the last quarter. Lynch & Associates IN raised its stake in shares of PNM Resources by 0.9% in the second quarter. Lynch & Associates IN now owns 7,335 shares of the company’s stock worth $260,000 after buying an additional 65 shares in the last quarter. State Treasurer State of Michigan raised its stake in shares of PNM Resources by 0.3% in the second quarter. State Treasurer State of Michigan now owns 31,934 shares of the company’s stock worth $1,132,000 after buying an additional 100 shares in the last quarter. Moody Lynn & Lieberson LLC raised its stake in shares of PNM Resources by 1.0% in the second quarter. Moody Lynn & Lieberson LLC now owns 14,830 shares of the company’s stock worth $526,000 after buying an additional 144 shares in the last quarter. Finally, Chicago Equity Partners LLC raised its stake in shares of PNM Resources by 0.3% in the second quarter. Chicago Equity Partners LLC now owns 53,275 shares of the company’s stock worth $1,888,000 after buying an additional 170 shares in the last quarter. Hedge funds and other institutional investors own 92.60% of the company’s stock.
The company also recently announced a quarterly dividend, which will be paid on Monday, November 14th. Investors of record on Monday, October 31st will be given a $0.22 dividend. The ex-dividend date of this dividend is Thursday, October 27th. This represents a $0.88 dividend on an annualized basis and a yield of 2.69%. PNM Resources’s dividend payout ratio is currently 1,100.00%.
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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