PNM Resources (NYSE:PNM – Get Rating) issued an update on its FY 2023 earnings guidance on Tuesday morning. The company provided earnings per share guidance of $2.60-$2.75 for the period, compared to the consensus earnings per share estimate of $2.67. The company issued revenue guidance of -. PNM Resources also updated its FY 2022 guidance to $2.50-$2.60 EPS.
Analysts Set New Price Targets
Separately, Mizuho reduced their target price on PNM Resources from $52.00 to $51.00 and set a buy rating on the stock in a research note on Wednesday, September 7th.
Get PNM Resources alerts:PNM Resources Trading Down 0.5 %
Shares of PNM traded down $0.23 during trading hours on Wednesday, reaching $46.00. 700 shares of the company traded hands, compared to its average volume of 720,663. PNM Resources has a 12 month low of $43.43 and a 12 month high of $50.11. The company has a quick ratio of 0.33, a current ratio of 0.41 and a debt-to-equity ratio of 1.63. The company's fifty day moving average price is $47.72 and its two-hundred day moving average price is $47.18. The company has a market capitalization of $3.95 billion, a price-to-earnings ratio of 25.40, a price-to-earnings-growth ratio of 4.24 and a beta of 0.42.
PNM Resources (NYSE:PNM – Get Rating) last posted its earnings results on Thursday, August 4th. The utilities provider reported $0.57 earnings per share for the quarter, topping analysts' consensus estimates of $0.55 by $0.02. The firm had revenue of $499.70 million for the quarter, compared to the consensus estimate of $445.36 million. PNM Resources had a return on equity of 10.41% and a net margin of 8.29%. The business's revenue for the quarter was up 17.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.55 EPS. Equities research analysts predict that PNM Resources will post 2.6 earnings per share for the current fiscal year.PNM Resources Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 10th. Stockholders of record on Thursday, October 27th will be issued a dividend of $0.347 per share. This represents a $1.39 dividend on an annualized basis and a dividend yield of 3.02%. The ex-dividend date is Wednesday, October 26th. PNM Resources's dividend payout ratio (DPR) is presently 76.37%.
Institutional Trading of PNM Resources
Hedge funds and other institutional investors have recently made changes to their positions in the stock. State Street Corp raised its stake in PNM Resources by 17.5% during the first quarter. State Street Corp now owns 3,160,826 shares of the utilities provider's stock valued at $150,677,000 after buying an additional 471,143 shares during the last quarter. Neuberger Berman Group LLC purchased a new stake in shares of PNM Resources in the first quarter worth $15,929,000. FMR LLC increased its holdings in shares of PNM Resources by 114.0% during the second quarter. FMR LLC now owns 291,548 shares of the utilities provider's stock valued at $13,930,000 after acquiring an additional 155,338 shares in the last quarter. Arrowstreet Capital Limited Partnership boosted its stake in PNM Resources by 28.8% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 592,585 shares of the utilities provider's stock worth $28,249,000 after purchasing an additional 132,604 shares in the last quarter. Finally, Sei Investments Co. boosted its stake in PNM Resources by 114.7% in the 1st quarter. Sei Investments Co. now owns 238,673 shares of the utilities provider's stock worth $11,378,000 after purchasing an additional 127,483 shares in the last quarter. Hedge funds and other institutional investors own 91.18% of the company's stock.
PNM Resources Company Profile
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PNM Resources, Inc, through its subsidiaries, provides electricity and electric services 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 engages in the generation, transmission, and distribution of electricity.
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