PNM Resources Inc (NYSE:PNM) – Equities researchers at SunTrust Banks reduced their Q4 2018 earnings per share estimates for shares of PNM Resources in a note issued to investors on Wednesday, November 7th. SunTrust Banks analyst A. Agha now expects that the utilities provider will post earnings per share of $0.15 for the quarter, down from their previous forecast of $0.17. SunTrust Banks also issued estimates for PNM Resources’ Q2 2019 earnings at $0.65 EPS, Q3 2019 earnings at $1.21 EPS, Q1 2020 earnings at $0.07 EPS, Q2 2020 earnings at $0.66 EPS and Q3 2020 earnings at $1.25 EPS.
PNM Resources (NYSE:PNM) last announced its quarterly earnings data on Tuesday, November 6th. The utilities provider reported $1.08 EPS for the quarter, beating the Zacks’ consensus estimate of $1.04 by $0.04. PNM Resources had a net margin of 6.08% and a return on equity of 9.25%. The firm had revenue of $422.67 million for the quarter, compared to the consensus estimate of $483.08 million. During the same period in the previous year, the firm posted $0.93 earnings per share.
PNM has been the subject of several other reports. Zacks Investment Research downgraded shares of PNM Resources from a “buy” rating to a “hold” rating in a research report on Saturday, October 6th. Bank of America decreased their target price on shares of PNM Resources from $38.00 to $36.00 and set an “underperform” rating for the company in a research report on Tuesday, October 16th. Three analysts have rated the stock with a sell rating and six have assigned a hold rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $38.63.
Shares of PNM opened at $40.61 on Friday. PNM Resources has a 52 week low of $33.75 and a 52 week high of $46.00. The company has a market cap of $3.24 billion, a P/E ratio of 20.93, a P/E/G ratio of 4.44 and a beta of 0.16. The company has a current ratio of 0.37, a quick ratio of 0.27 and a debt-to-equity ratio of 1.17.
A number of hedge funds have recently bought and sold shares of the business. Arizona State Retirement System grew its position in PNM Resources by 2.5% in the second quarter. Arizona State Retirement System now owns 55,302 shares of the utilities provider’s stock worth $2,151,000 after acquiring an additional 1,369 shares in the last quarter. GAM Holding AG lifted its stake in shares of PNM Resources by 15.3% in the second quarter. GAM Holding AG now owns 11,203 shares of the utilities provider’s stock worth $436,000 after buying an additional 1,483 shares during the last quarter. SG Americas Securities LLC lifted its stake in shares of PNM Resources by 9.6% in the second quarter. SG Americas Securities LLC now owns 22,018 shares of the utilities provider’s stock worth $856,000 after buying an additional 1,933 shares during the last quarter. Segall Bryant & Hamill LLC lifted its stake in shares of PNM Resources by 1.9% in the second quarter. Segall Bryant & Hamill LLC now owns 114,441 shares of the utilities provider’s stock worth $4,452,000 after buying an additional 2,121 shares during the last quarter. Finally, Mutual of America Capital Management LLC lifted its stake in shares of PNM Resources by 1.3% in the second quarter. Mutual of America Capital Management LLC now owns 191,544 shares of the utilities provider’s stock worth $7,451,000 after buying an additional 2,367 shares during the last quarter. 90.90% of the stock is owned by institutional investors.
The firm also recently announced a quarterly dividend, which will be paid on Friday, November 16th. Shareholders of record on Friday, November 2nd will be given a $0.265 dividend. This represents a $1.06 annualized dividend and a yield of 2.61%. The ex-dividend date of this dividend is Thursday, November 1st. PNM Resources’s dividend payout ratio is 54.64%.
PNM Resources Company Profile
PNM Resources, Inc, through its subsidiaries, engages in the energy and energy-related businesses 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 is primarily involved in the generation, transmission, and distribution of electricity.
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