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

PNM Resources (NYSE:PNMGet Rating) updated its FY 2023 earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of $2.600-$2.750 for the period, compared to the Thomson Reuters consensus estimate of $2.660. The company issued revenue guidance of -.PNM Resources also updated its FY 2022 guidance to $2.500-$2.600 EPS.

PNM stock traded down $0.22 during midday trading on Wednesday, reaching $47.56. The stock had a trading volume of 1,360 shares, compared to its average volume of 702,592. PNM Resources has a 52-week low of $43.84 and a 52-week high of $50.11. The company has a current ratio of 0.49, a quick ratio of 0.39 and a debt-to-equity ratio of 1.58. The company’s fifty day simple moving average is $45.96 and its 200 day simple moving average is $46.90. The company has a market cap of $4.08 billion, a price-to-earnings ratio of 21.05, a price-to-earnings-growth ratio of 3.75 and a beta of 0.48.

PNM Resources (NYSE:PNMGet Rating) last issued its earnings results on Thursday, February 3rd. The utilities provider reported $0.21 EPS for the quarter, beating the Zacks’ consensus estimate of $0.16 by $0.05. PNM Resources had a net margin of 11.24% and a return on equity of 9.76%. Sell-side analysts predict that PNM Resources will post 2.55 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, May 13th. Stockholders of record on Friday, April 29th will be issued a dividend of $0.347 per share. This represents a $1.39 annualized dividend and a dividend yield of 2.92%. The ex-dividend date is Thursday, April 28th. PNM Resources’s dividend payout ratio is currently 61.23%.

A number of equities analysts recently commented on the company. Mizuho lifted their price objective on PNM Resources from $47.00 to $53.00 and gave the stock a neutral rating in a research report on Wednesday, February 9th. StockNews.com assumed coverage on shares of PNM Resources in a research report on Thursday, March 31st. They set a hold rating on the stock. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of Hold and an average price target of $49.33.

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Virtu Financial LLC acquired a new position in PNM Resources in the fourth quarter valued at about $218,000. Jane Street Group LLC acquired a new position in shares of PNM Resources in the 3rd quarter worth approximately $239,000. LPL Financial LLC purchased a new position in shares of PNM Resources during the 4th quarter worth approximately $278,000. Cubist Systematic Strategies LLC acquired a new stake in PNM Resources in the 4th quarter valued at approximately $769,000. Finally, Mackenzie Financial Corp raised its position in PNM Resources by 561.3% in the fourth quarter. Mackenzie Financial Corp now owns 38,383 shares of the utilities provider’s stock valued at $1,751,000 after purchasing an additional 32,579 shares during the period. Hedge funds and other institutional investors own 85.15% of the company’s stock.

About PNM Resources (Get Rating)

PNM Resources, Inc operates as an investor-owned holding company, which provides electricity and electric services in New Mexico and Texas. It operates through the following segments: Public Service Company of New Mexico (PNM), Texas-New Mexico Power Company (TNMP), and Corporate and Other. The PNM segment includes the retail electric utility operations of the company.

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