PNM Resources (NYSE:PNM) announced its earnings results on Tuesday. The utilities provider reported $0.24 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.19 by $0.05, RTT News reports. PNM Resources had a net margin of 5.55% and a return on equity of 8.67%. The company had revenue of $332.61 million for the quarter, compared to analysts’ expectations of $330.25 million. During the same period last year, the firm earned $0.34 earnings per share. PNM Resources updated its FY18 guidance to $1.82-1.92 EPS.
Shares of PNM Resources (NYSE PNM) opened at $35.20 on Thursday. The company has a current ratio of 0.53, a quick ratio of 0.43 and a debt-to-equity ratio of 1.25. The stock has a market cap of $2,827.70, a P/E ratio of 18.30, a P/E/G ratio of 3.30 and a beta of 0.26. PNM Resources has a 52-week low of $33.75 and a 52-week high of $46.00.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 16th. Investors of record on Wednesday, May 2nd will be given a dividend of $0.265 per share. The ex-dividend date is Tuesday, May 1st. This represents a $1.06 annualized dividend and a dividend yield of 3.01%. PNM Resources’s dividend payout ratio is 106.00%.
Several hedge funds and other institutional investors have recently bought and sold shares of the stock. BlackRock Inc. boosted its position in shares of PNM Resources by 6.1% during the 4th quarter. BlackRock Inc. now owns 8,926,954 shares of the utilities provider’s stock worth $361,095,000 after acquiring an additional 515,725 shares in the last quarter. Renaissance Technologies LLC boosted its position in shares of PNM Resources by 21.9% during the 4th quarter. Renaissance Technologies LLC now owns 2,296,300 shares of the utilities provider’s stock worth $92,885,000 after acquiring an additional 412,100 shares in the last quarter. APG Asset Management N.V. boosted its position in shares of PNM Resources by 175.2% during the 4th quarter. APG Asset Management N.V. now owns 1,182,300 shares of the utilities provider’s stock worth $39,827,000 after acquiring an additional 752,700 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of PNM Resources by 6.9% during the 4th quarter. Geode Capital Management LLC now owns 706,326 shares of the utilities provider’s stock worth $28,570,000 after acquiring an additional 45,841 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. boosted its position in PNM Resources by 1.4% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 587,747 shares of the utilities provider’s stock valued at $23,775,000 after buying an additional 8,235 shares in the last quarter. Institutional investors and hedge funds own 91.91% of the company’s stock.
PNM Resources Company Profile
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 (PNM) and Texas-New Mexico Power Company (TNMP). It operates in three segments: PNM, TNMP, and Corporate and Other.
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