PNM Resources Inc (NYSE:PNM) – Equities research analysts at SunTrust Banks issued their Q3 2019 EPS estimates for shares of PNM Resources in a research report issued to clients and investors on Monday, August 5th, Zacks Investment Research reports. SunTrust Banks analyst A. Agha expects that the utilities provider will post earnings of $1.23 per share for the quarter. SunTrust Banks also issued estimates for PNM Resources’ Q4 2019 earnings at $0.35 EPS, Q2 2020 earnings at $0.40 EPS, Q4 2020 earnings at $0.37 EPS and Q2 2021 earnings at $0.43 EPS.
Other research analysts have also recently issued research reports about the stock. Barclays reaffirmed a “sell” rating and issued a $49.00 price target on shares of PNM Resources in a report on Wednesday, June 19th. Wells Fargo & Co set a $52.00 price objective on shares of PNM Resources and gave the company a “hold” rating in a report on Monday, July 15th. UBS Group upgraded shares of PNM Resources from a “sell” rating to a “neutral” rating and set a $49.15 price objective for the company in a research report on Wednesday, June 12th. Mizuho raised their price objective on shares of PNM Resources from $52.50 to $54.00 and gave the stock a “buy” rating in a research report on Monday, July 15th. Finally, Bank of America upgraded shares of PNM Resources from an “underperform” rating to a “neutral” rating and set a $48.00 price target for the company in a research note on Thursday, April 25th. Three analysts have rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company. The company has an average rating of “Hold” and an average price target of $50.19.
PNM stock traded down $1.26 during mid-day trading on Thursday, reaching $49.78. 296,600 shares of the company traded hands, compared to its average volume of 398,734. The company has a quick ratio of 0.34, a current ratio of 0.45 and a debt-to-equity ratio of 1.67. The stock has a market cap of $4.03 billion, a price-to-earnings ratio of 24.89, a P/E/G ratio of 4.46 and a beta of 0.24. The firm’s 50 day moving average price is $50.18 and its 200 day moving average price is $47.65. PNM Resources has a fifty-two week low of $37.67 and a fifty-two week high of $52.10.
PNM Resources (NYSE:PNM) last released its quarterly earnings data on Friday, August 2nd. The utilities provider reported $0.37 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.37. PNM Resources had a positive return on equity of 8.08% and a negative net margin of 1.69%. The company had revenue of $330.23 million for the quarter.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PNM. Rhumbline Advisers boosted its position in PNM Resources by 1.3% during the 1st quarter. Rhumbline Advisers now owns 263,528 shares of the utilities provider’s stock worth $12,475,000 after acquiring an additional 3,376 shares during the period. Deutsche Bank AG boosted its stake in shares of PNM Resources by 59.9% in the 4th quarter. Deutsche Bank AG now owns 318,993 shares of the utilities provider’s stock worth $13,106,000 after buying an additional 119,512 shares during the last quarter. New York State Common Retirement Fund boosted its stake in shares of PNM Resources by 26.8% in the 1st quarter. New York State Common Retirement Fund now owns 114,479 shares of the utilities provider’s stock worth $5,419,000 after buying an additional 24,213 shares during the last quarter. GWM Advisors LLC boosted its stake in shares of PNM Resources by 0.5% in the 2nd quarter. GWM Advisors LLC now owns 41,917 shares of the utilities provider’s stock worth $2,134,000 after buying an additional 228 shares during the last quarter. Finally, Magellan Asset Management Ltd boosted its stake in shares of PNM Resources by 9.7% in the 1st quarter. Magellan Asset Management Ltd now owns 61,429 shares of the utilities provider’s stock worth $2,908,000 after buying an additional 5,423 shares during the last quarter. Hedge funds and other institutional investors own 89.48% of the company’s stock.
The business also recently declared a quarterly dividend, which was paid on Friday, August 16th. Shareholders of record on Tuesday, August 6th were issued a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a yield of 2.33%. The ex-dividend date was Monday, August 5th. PNM Resources’s dividend payout ratio is presently 58.00%.
About PNM Resources
PNM Resources, Inc, through its subsidiaries, engages in the energy and energy-related businesses in the United States. It operates through Public Service Company of New Mexico (PNM) and Texas-New Mexico Power Company (TNMP) segments. The PNM segment is primarily involved in the generation, transmission, and distribution of electricity.