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

PNM Resources (NYSE:PNMGet Rating) updated its FY 2022 earnings guidance on Monday. The company provided earnings per share (EPS) guidance of $2.50-$2.60 for the period, compared to the consensus estimate of $2.55. The company issued revenue guidance of -.PNM Resources also updated its FY 2023 guidance to $2.60-$2.75 EPS.

A number of research analysts have recently commented on the company. Mizuho upped their target price on PNM Resources from $47.00 to $53.00 and gave the company a neutral rating in a research note on Wednesday, February 9th. StockNews.com initiated coverage on PNM Resources in a research note on Thursday, March 31st. They set a hold rating on the stock. One analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, PNM Resources currently has a consensus rating of Hold and an average target price of $49.33.

Shares of NYSE:PNM opened at $45.58 on Tuesday. PNM Resources has a 52-week low of $43.84 and a 52-week high of $50.11. The stock has a market cap of $3.91 billion, a P/E ratio of 20.17, a price-to-earnings-growth ratio of 4.10 and a beta of 0.46. The business’s 50 day moving average is $46.82 and its 200 day moving average is $46.56. The company has a quick ratio of 0.34, a current ratio of 0.45 and a debt-to-equity ratio of 1.67.

PNM Resources (NYSE:PNMGet Rating) last announced its quarterly earnings data on Thursday, April 28th. The utilities provider reported $0.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.41 by $0.09. The company had revenue of $444.12 million for the quarter, compared to analysts’ expectations of $382.37 million. PNM Resources had a return on equity of 10.38% and a net margin of 10.68%. PNM Resources’s revenue was up 21.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.32 earnings per share. On average, sell-side analysts anticipate that PNM Resources will post 2.55 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, May 13th. Shareholders of record on Friday, April 29th will be issued a dividend of $0.347 per share. The ex-dividend date of this dividend is Thursday, April 28th. This represents a $1.39 dividend on an annualized basis and a yield of 3.05%. PNM Resources’s dividend payout ratio is currently 61.50%.

A number of institutional investors have recently bought and sold shares of the business. BlackRock Inc. lifted its holdings in PNM Resources by 5.4% during the fourth quarter. BlackRock Inc. now owns 10,543,538 shares of the utilities provider’s stock worth $480,889,000 after buying an additional 537,749 shares during the period. Barclays PLC lifted its holdings in shares of PNM Resources by 528.0% during the 4th quarter. Barclays PLC now owns 869,026 shares of the utilities provider’s stock valued at $39,637,000 after purchasing an additional 730,636 shares during the last quarter. Legal & General Group Plc lifted its holdings in shares of PNM Resources by 3.4% during the 4th quarter. Legal & General Group Plc now owns 704,483 shares of the utilities provider’s stock valued at $32,131,000 after purchasing an additional 22,896 shares during the last quarter. Goldman Sachs Group Inc. lifted its holdings in shares of PNM Resources by 7.1% during the 4th quarter. Goldman Sachs Group Inc. now owns 628,495 shares of the utilities provider’s stock valued at $28,666,000 after purchasing an additional 41,495 shares during the last quarter. Finally, Invesco Ltd. lifted its holdings in shares of PNM Resources by 2.9% during the 4th quarter. Invesco Ltd. now owns 159,548 shares of the utilities provider’s stock valued at $7,276,000 after purchasing an additional 4,456 shares during the last quarter. Institutional investors own 86.59% of the company’s stock.

PNM Resources Company Profile (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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