PNM Resources (NYSE:PNM) Releases FY 2023 Earnings Guidance

PNM Resources (NYSE:PNMGet Rating) issued an update on its FY 2023 earnings guidance on Monday 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 $2.57. The company issued revenue guidance of -.PNM Resources also updated its FY 2022 guidance to $2.50-$2.60 EPS.

Shares of PNM stock traded down $0.02 during midday trading on Wednesday, reaching $46.88. 33,881 shares of the stock were exchanged, compared to its average volume of 732,736. The company has a current ratio of 0.45, a quick ratio of 0.34 and a debt-to-equity ratio of 1.67. The company’s 50 day moving average is $46.90 and its two-hundred day moving average is $46.45. PNM Resources has a 1 year low of $43.84 and a 1 year high of $50.11. The firm has a market cap of $4.02 billion, a PE ratio of 20.79, a price-to-earnings-growth ratio of 4.15 and a beta of 0.46.

PNM Resources (NYSE:PNMGet Rating) last released its quarterly earnings data on Tuesday, March 1st. The utilities provider reported $0.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.15 by $0.06. The business had revenue of $434.08 million for the quarter. PNM Resources had a return on equity of 10.38% and a net margin of 10.68%. As a group, equities analysts expect that PNM Resources will post 2.55 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Friday, May 13th. Shareholders of record on Friday, April 29th were paid a $0.347 dividend. The ex-dividend date was Thursday, April 28th. This represents a $1.39 dividend on an annualized basis and a yield of 2.96%. PNM Resources’s payout ratio is presently 61.50%.

PNM has been the subject of a number of analyst reports. Mizuho increased their price target on PNM Resources from $47.00 to $53.00 and gave the stock a neutral rating in a research note on Wednesday, February 9th. began coverage on shares of PNM Resources in a report on Thursday, March 31st. They issued a hold rating for the company. One research analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company’s stock. According to data from, the company presently has a consensus rating of Hold and a consensus target price of $49.33.

Several large investors have recently modified their holdings of PNM. Captrust Financial Advisors increased its holdings in PNM Resources by 14.8% during the first quarter. Captrust Financial Advisors now owns 2,626 shares of the utilities provider’s stock valued at $125,000 after buying an additional 339 shares during the period. Virtu Financial LLC purchased a new position in PNM Resources in the fourth quarter worth $218,000. Jane Street Group LLC purchased a new position in PNM Resources in the third quarter worth $239,000. LPL Financial LLC purchased a new position in PNM Resources in the fourth quarter worth $278,000. Finally, Ancora Advisors LLC acquired a new stake in shares of PNM Resources during the first quarter worth $378,000. 86.59% of the stock is currently owned by institutional investors and hedge funds.

PNM Resources Company Profile (Get Rating)

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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