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

PNM Resources (NYSE:PNMGet Rating) updated its FY 2023 earnings guidance on Monday. The company provided earnings per share guidance of $2.60-$2.75 for the period, compared to the consensus earnings per share estimate of $2.57. The company issued revenue guidance of -.PNM Resources also updated its FY 2022 guidance to $2.50-$2.60 EPS.

Several equities analysts have recently weighed in on the company. StockNews.com began coverage on PNM Resources in a report on Thursday, March 31st. They issued a hold rating for the company. Mizuho raised their target price on shares of PNM Resources from $47.00 to $53.00 and gave the company a neutral rating in a research note on Wednesday, February 9th. 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. According to data from MarketBeat, PNM Resources has an average rating of Hold and an average target price of $49.33.

Shares of NYSE:PNM opened at $46.36 on Monday. PNM Resources has a 52-week low of $43.84 and a 52-week high of $50.11. The company has a market capitalization of $3.98 billion, a P/E ratio of 20.51, a price-to-earnings-growth ratio of 4.15 and a beta of 0.46. The company has a 50-day simple moving average of $46.95 and a 200 day simple moving average of $46.39. 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 (NYSE:PNMGet Rating) last issued its earnings results on Tuesday, March 1st. The utilities provider reported $0.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.15 by $0.06. PNM Resources had a net margin of 10.68% and a return on equity of 10.38%. The business had revenue of $434.08 million during the quarter. As a group, equities analysts forecast that PNM Resources will post 2.55 earnings per share for the current year.

The business also recently disclosed 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. The ex-dividend date was Thursday, April 28th. This represents a $1.39 annualized dividend and a yield of 2.99%. PNM Resources’s dividend payout ratio (DPR) is presently 61.50%.

Hedge funds have recently modified their holdings of the business. Captrust Financial Advisors grew its stake in shares of PNM Resources by 14.8% during the first quarter. Captrust Financial Advisors now owns 2,626 shares of the utilities provider’s stock worth $125,000 after buying an additional 339 shares during the last quarter. MetLife Investment Management LLC grew its stake in shares of PNM Resources by 0.5% during the fourth quarter. MetLife Investment Management LLC now owns 71,197 shares of the utilities provider’s stock worth $3,247,000 after buying an additional 361 shares during the last quarter. Yousif Capital Management LLC grew its stake in shares of PNM Resources by 1.6% during the first quarter. Yousif Capital Management LLC now owns 45,120 shares of the utilities provider’s stock worth $2,151,000 after buying an additional 724 shares during the last quarter. California State Teachers Retirement System grew 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 last quarter. Finally, Allianz Asset Management GmbH grew its stake in shares of PNM Resources by 0.8% during the first quarter. Allianz Asset Management GmbH now owns 391,228 shares of the utilities provider’s stock worth $18,650,000 after buying an additional 2,959 shares during the last quarter. Hedge funds and other institutional investors own 86.59% of the company’s stock.

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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