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

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

Shares of NYSE PNM opened at $46.36 on Monday. The company has a debt-to-equity ratio of 1.67, a quick ratio of 0.34 and a current ratio of 0.45. PNM Resources has a fifty-two week low of $43.84 and a fifty-two week high of $50.11. The firm has a market capitalization of $3.98 billion, a PE ratio of 20.51, a price-to-earnings-growth ratio of 4.15 and a beta of 0.46. The stock’s 50-day simple moving average is $46.95 and its 200-day simple moving average is $46.39.

PNM Resources (NYSE:PNMGet Rating) last released its quarterly earnings results on Tuesday, March 1st. The utilities provider reported $0.21 EPS for the quarter, topping the consensus estimate of $0.15 by $0.06. The company had revenue of $434.08 million for the quarter. PNM Resources had a return on equity of 10.38% and a net margin of 10.68%. On average, sell-side analysts forecast that PNM Resources will post 2.55 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Friday, May 13th. Shareholders of record on Friday, April 29th were given a dividend of $0.347 per share. This represents a $1.39 annualized dividend and a yield of 2.99%. The ex-dividend date of this dividend was Thursday, April 28th. PNM Resources’s dividend payout ratio (DPR) is 61.50%.

Several research firms have commented on PNM. Mizuho lifted their price target 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 began coverage on PNM Resources in a research report on Thursday, March 31st. They set a hold rating on the stock. One research analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of Hold and a consensus price target of $49.33.

Several large investors have recently added to or reduced their stakes in PNM. Barclays PLC increased its holdings in shares of PNM Resources by 528.0% in the fourth 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 period. BlackRock Inc. increased its holdings in shares of PNM Resources by 5.4% in the fourth quarter. BlackRock Inc. now owns 10,543,538 shares of the utilities provider’s stock valued at $480,889,000 after purchasing an additional 537,749 shares during the period. State Street Corp increased its holdings in shares of PNM Resources by 17.5% in the first quarter. State Street Corp now owns 3,160,826 shares of the utilities provider’s stock valued at $150,677,000 after purchasing an additional 471,143 shares during the period. Arrowstreet Capital Limited Partnership increased its holdings in shares of PNM Resources by 28.8% in the first quarter. Arrowstreet Capital Limited Partnership now owns 592,585 shares of the utilities provider’s stock valued at $28,249,000 after purchasing an additional 132,604 shares during the period. Finally, Sei Investments Co. increased its holdings in shares of PNM Resources by 114.7% in the first quarter. Sei Investments Co. now owns 238,673 shares of the utilities provider’s stock valued at $11,378,000 after purchasing an additional 127,483 shares during the period. 86.59% of the stock is currently owned by institutional investors and hedge funds.

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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