PNM Resources (NYSE:PNM) Releases FY 2022 Earnings Guidance

PNM Resources (NYSE:PNMGet Rating) updated its FY 2022 earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of $2.500-$2.600 for the period, compared to the Thomson Reuters consensus estimate of $2.550. The company issued revenue guidance of -.PNM Resources also updated its FY 2023 guidance to $2.600-$2.750 EPS.

Several research firms have issued reports on PNM. StockNews.com began coverage on PNM Resources in a research note on Thursday, March 31st. They set a hold rating for the company. Mizuho raised their target price on PNM Resources from $47.00 to $53.00 and gave the stock a neutral rating in a research note on Wednesday, February 9th. One research analyst has rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of Hold and a consensus target price of $49.33.

Shares of NYSE PNM opened at $47.85 on Wednesday. PNM Resources has a twelve month low of $43.84 and a twelve month 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 stock has a fifty day simple moving average of $46.51 and a 200-day simple moving average of $46.78. The stock has a market capitalization of $4.11 billion, a PE ratio of 21.08, a PEG ratio of 4.26 and a beta of 0.48.

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

The business also recently announced a quarterly dividend, which will be paid on Friday, May 13th. Investors of record on Friday, April 29th will be paid a dividend of $0.347 per share. The ex-dividend date is Thursday, April 28th. This represents a $1.39 annualized dividend and a yield of 2.90%. PNM Resources’s payout ratio is 61.23%.

A number of hedge funds have recently bought and sold shares of PNM. MetLife Investment Management LLC boosted its stake in shares of PNM Resources by 0.5% in the 4th quarter. MetLife Investment Management LLC now owns 71,197 shares of the utilities provider’s stock valued at $3,247,000 after buying an additional 361 shares during the period. California State Teachers Retirement System increased its stake in shares of PNM Resources by 2.1% during the fourth quarter. California State Teachers Retirement System now owns 115,310 shares of the utilities provider’s stock worth $5,259,000 after buying an additional 2,352 shares during the period. Invesco Ltd. increased its stake in shares of PNM Resources by 2.9% during the fourth quarter. Invesco Ltd. now owns 159,548 shares of the utilities provider’s stock worth $7,276,000 after buying an additional 4,456 shares during the period. Virtu Financial LLC purchased a new stake in shares of PNM Resources during the fourth quarter worth approximately $218,000. Finally, Jane Street Group LLC purchased a new stake in shares of PNM Resources during the third quarter worth approximately $239,000. 85.15% of the stock is currently owned by institutional investors.

About PNM Resources (Get Rating)

PNM Resources, Inc, through its subsidiaries, provides electricity and electric services 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 engages in the generation, transmission, and distribution of electricity.

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