PNM Resources Inc. (NYSE:PNM) – Equities research analysts at SunTrust Banks lowered their Q3 2017 earnings per share estimates for shares of PNM Resources in a report released on Friday. SunTrust Banks analyst A. Agha now forecasts that the brokerage will earn $0.84 per share for the quarter, down from their previous estimate of $0.87. SunTrust Banks has a “Neutral” rating and a $35.00 price objective 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.
Several other research firms have also recently weighed in on PNM. Williams Capital reissued a “hold” rating on shares of PNM Resources in a report on Wednesday, September 21st. Argus cut their target price on shares of PNM Resources from $40.00 to $38.00 and set a “buy” rating on the stock in a research report on Thursday, September 22nd. Jefferies Group restated a “hold” rating on shares of PNM Resources in a research report on Monday, July 18th. Zacks Investment Research upgraded shares of PNM Resources from a “sell” rating to a “hold” rating in a research report on Wednesday, September 28th. Finally, TheStreet lowered shares of PNM Resources from a “buy” rating to a “hold” rating in a research report on Friday, August 26th. Three investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $36.21.
PNM Resources (NYSE:PNM) opened at 32.28 on Monday. The firm’s 50-day moving average price is $32.74 and its 200 day moving average price is $33.17. The firm has a market cap of $2.57 billion, a P/E ratio of 354.73 and a beta of 0.38. PNM Resources has a 12-month low of $26.56 and a 12-month high of $36.15.
PNM Resources (NYSE:PNM) last posted its quarterly earnings data on Monday, August 8th. The company reported $0.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.39 by $0.01. PNM Resources had a return on equity of 7.00% and a net margin of 0.54%. The firm had revenue of $315.39 million for the quarter, compared to the consensus estimate of $379 million. During the same quarter in the prior year, the business earned $0.44 EPS. The business’s revenue for the quarter was down 10.6% compared to the same quarter last year.
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 paid a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 2.73%. The ex-dividend date of this dividend is Thursday, October 27th. PNM Resources’s dividend payout ratio is presently 1,100.00%.
A number of institutional investors have recently made changes to their positions in the company. Mason Street Advisors LLC purchased a new position in shares of PNM Resources during the second quarter worth $1,287,000. Schwab Charles Investment Management Inc. increased its stake in PNM Resources by 0.8% in the second quarter. Schwab Charles Investment Management Inc. now owns 436,623 shares of the company’s stock valued at $15,474,000 after buying an additional 3,561 shares during the period. Stifel Financial Corp increased its stake in PNM Resources by 6.2% in the second quarter. Stifel Financial Corp now owns 23,188 shares of the company’s stock valued at $822,000 after buying an additional 1,351 shares during the period. Amalgamated Bank increased its stake in PNM Resources by 11.3% in the second quarter. Amalgamated Bank now owns 9,926 shares of the company’s stock valued at $332,000 after buying an additional 1,009 shares during the period. Finally, Metropolitan Life Insurance Co. NY increased its stake in PNM Resources by 1.6% in the second quarter. Metropolitan Life Insurance Co. NY now owns 129,501 shares of the company’s stock valued at $4,590,000 after buying an additional 2,030 shares during the period. 92.60% of the stock is owned by institutional investors and hedge funds.
About PNM Resources
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).
Receive News & Ratings for PNM Resources Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PNM Resources Inc. and related companies with MarketBeat.com's FREE daily email newsletter.