PNM Resources (NYSE:PNM) Releases FY22 Earnings Guidance

PNM Resources (NYSE:PNMGet Rating) updated its FY22 earnings guidance on Tuesday. The company provided EPS guidance of $2.50-2.60 for the period, compared to the Thomson Reuters consensus EPS estimate of $2.55. PNM Resources also updated its FY23 guidance to $2.60-2.75 EPS.

Several research firms have weighed in on PNM. StockNews.com began coverage on shares of PNM Resources in a research report on Thursday, March 31st. They issued a hold rating for the company. Mizuho raised their price objective on shares of PNM Resources from $47.00 to $53.00 and gave the company a neutral rating in a research report on Wednesday, February 9th. One investment 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. According to data from MarketBeat, PNM Resources has a consensus rating of Hold and an average price target of $49.33.

Shares of NYSE:PNM opened at $47.89 on Tuesday. PNM Resources has a one year low of $43.84 and a one year high of $50.11. The company has a 50 day moving average of $46.16 and a 200-day moving average of $46.83. The company has a debt-to-equity ratio of 1.58, a current ratio of 0.49 and a quick ratio of 0.39. The stock has a market cap of $4.11 billion, a price-to-earnings ratio of 21.04, a P/E/G ratio of 4.28 and a beta of 0.48.

PNM Resources (NYSE:PNMGet Rating) last issued its quarterly earnings results on Thursday, February 3rd. The utilities provider reported $0.21 EPS for the quarter, topping the consensus estimate of $0.16 by $0.05. PNM Resources had a net margin of 11.24% and a return on equity of 9.76%. Equities research analysts anticipate that PNM Resources will post 2.55 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 13th. Stockholders of record on Friday, April 29th will be given a dividend of $0.347 per share. This represents a $1.39 annualized dividend and a dividend yield of 2.90%. The ex-dividend date is Thursday, April 28th. PNM Resources’s dividend payout ratio is 61.23%.

Large investors have recently modified their holdings of the company. Virtu Financial LLC bought a new position in PNM Resources during the 4th quarter worth approximately $218,000. Jane Street Group LLC bought a new position in PNM Resources during the 3rd quarter worth approximately $239,000. LPL Financial LLC bought a new position in PNM Resources during the 4th quarter worth approximately $278,000. Cubist Systematic Strategies LLC bought a new position in PNM Resources during the 4th quarter worth approximately $769,000. Finally, Mackenzie Financial Corp boosted its stake in PNM Resources by 561.3% during the 4th quarter. Mackenzie Financial Corp now owns 38,383 shares of the utilities provider’s stock worth $1,751,000 after acquiring an additional 32,579 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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