PNM Resources Inc. (NYSE:PNM) issued an update on its FY16 earnings guidance on Thursday morning. The company provided earnings per share guidance of $1.55-1.65 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $1.58.
Shares of PNM Resources Inc. (NYSE:PNM) opened at 31.43 on Friday. The stock has a market cap of $2.50 billion, a PE ratio of 345.38 and a beta of 0.38. The firm has a 50-day moving average of $32.65 and a 200 day moving average of $33.13. PNM Resources Inc. has a 52 week low of $26.56 and a 52 week high of $36.15.
PNM Resources (NYSE:PNM) last released its quarterly earnings data on Monday, August 8th. The company reported $0.40 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.39 by $0.01. The firm had revenue of $315.39 million for the quarter, compared to analyst estimates of $379 million. PNM Resources had a net margin of 0.54% and a return on equity of 7.00%. The business’s quarterly revenue was down 10.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.44 earnings per share. On average, equities analysts forecast that PNM Resources Inc. will post $1.58 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 14th. Stockholders of record on Monday, October 31st will be paid a $0.22 dividend. The ex-dividend date of this dividend is Thursday, October 27th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.80%. PNM Resources’s payout ratio is currently 1,100.00%.
A number of analysts have recently weighed in on the stock. Williams Capital reiterated a hold rating on shares of PNM Resources in a research note on Wednesday, September 21st. SunTrust Banks Inc. raised their price target on shares of PNM Resources from $34.00 to $35.00 and gave the company a neutral rating in a research report on Monday, September 26th. Argus dropped their price target 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. Finally, Zacks Investment Research upgraded shares of PNM Resources from a sell rating to a hold rating in a research report on Wednesday, September 28th. Three equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. The company presently has a consensus rating of Buy and a consensus target price of $36.21.
A number of institutional investors have recently bought and sold shares of the stock. Massachusetts Financial Services Co. MA increased its position in PNM Resources by 410.1% in the second quarter. Massachusetts Financial Services Co. MA now owns 171,170 shares of the company’s stock valued at $6,066,000 after buying an additional 137,613 shares during the last quarter. BOKF NA increased its position in PNM Resources by 0.3% in the second quarter. BOKF NA now owns 87,784 shares of the company’s stock valued at $3,111,000 after buying an additional 279 shares in the last quarter. Profund Advisors LLC increased its position in PNM Resources by 10.4% in the second quarter. Profund Advisors LLC now owns 25,919 shares of the company’s stock valued at $919,000 after buying an additional 2,450 shares in the last quarter. Advisor Group Inc. acquired a new position in PNM Resources during the second quarter valued at $224,000. Finally, Raymond James & Associates increased its position in PNM Resources by 2.2% in the second quarter. Raymond James & Associates now owns 54,690 shares of the company’s stock valued at $1,938,000 after buying an additional 1,162 shares in the last quarter. 92.60% of the stock is currently 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).
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