SunTrust Banks Comments on PNM Resources Inc’s Q1 2019 Earnings (PNM)

PNM Resources Inc (NYSE:PNM) – Analysts at SunTrust Banks boosted their Q1 2019 earnings per share estimates for shares of PNM Resources in a research note issued to investors on Wednesday, April 17th. SunTrust Banks analyst A. Agha now forecasts that the utilities provider will post earnings per share of $0.10 for the quarter, up from their prior estimate of $0.09. SunTrust Banks also issued estimates for PNM Resources’ FY2021 earnings at $2.35 EPS.

A number of other brokerages have also recently commented on PNM. Williams Capital reaffirmed a “sell” rating on shares of PNM Resources in a research note on Monday, March 18th. Mizuho raised PNM Resources from an “underperform” rating to a “neutral” rating and lifted their price objective for the stock from $42.50 to $43.50 in a research note on Friday, March 8th. Zacks Investment Research raised PNM Resources from a “hold” rating to a “buy” rating and set a $49.00 price objective for the company in a research note on Saturday, March 2nd. Wells Fargo & Co set a $45.00 price objective on PNM Resources and gave the stock a “hold” rating in a research note on Thursday, February 28th. Finally, Bank of America reaffirmed an “underperform” rating and set a $43.00 price objective (up from $40.00) on shares of PNM Resources in a research note on Thursday, February 28th. Three analysts have rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $43.90.

Shares of PNM Resources stock opened at $44.95 on Thursday. The company has a quick ratio of 0.45, a current ratio of 0.59 and a debt-to-equity ratio of 1.52. PNM Resources has a 12 month low of $34.95 and a 12 month high of $47.92. The firm has a market cap of $3.60 billion, a P/E ratio of 22.48, a P/E/G ratio of 4.45 and a beta of 0.29.

PNM Resources (NYSE:PNM) last released its earnings results on Wednesday, February 27th. The utilities provider reported $0.18 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.17 by $0.01. The company had revenue of $343.76 million during the quarter, compared to analysts’ expectations of $419.86 million. PNM Resources had a return on equity of 9.00% and a net margin of 5.98%. During the same period last year, the firm earned $0.24 EPS.

Hedge funds have recently bought and sold shares of the business. Oregon Public Employees Retirement Fund lifted its holdings in PNM Resources by 4,009.0% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 1,297,417 shares of the utilities provider’s stock worth $32,000 after acquiring an additional 1,265,842 shares in the last quarter. Dubuque Bank & Trust Co. bought a new position in PNM Resources during the fourth quarter worth about $56,000. IFP Advisors Inc lifted its holdings in PNM Resources by 32.9% during the fourth quarter. IFP Advisors Inc now owns 1,720 shares of the utilities provider’s stock worth $70,000 after acquiring an additional 426 shares in the last quarter. Meeder Asset Management Inc. bought a new position in PNM Resources during the first quarter worth about $123,000. Finally, PNC Financial Services Group Inc. lifted its holdings in PNM Resources by 38.9% during the fourth quarter. PNC Financial Services Group Inc. now owns 3,925 shares of the utilities provider’s stock worth $162,000 after acquiring an additional 1,100 shares in the last quarter. Hedge funds and other institutional investors own 90.03% of the company’s stock.

In related news, VP Joseph Don Tarry sold 1,092 shares of PNM Resources stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $44.89, for a total transaction of $49,019.88. Following the completion of the sale, the vice president now directly owns 11,882 shares of the company’s stock, valued at $533,382.98. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Charles N. Eldred sold 5,061 shares of PNM Resources stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $44.23, for a total value of $223,848.03. Following the sale, the chief financial officer now directly owns 108,289 shares of the company’s stock, valued at $4,789,622.47. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 24,953 shares of company stock valued at $1,110,564. 1.25% of the stock is owned by insiders.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 16th. Investors of record on Thursday, May 2nd will be paid a dividend of $0.29 per share. The ex-dividend date of this dividend is Wednesday, May 1st. This represents a $1.16 dividend on an annualized basis and a dividend yield of 2.58%. PNM Resources’s dividend payout ratio (DPR) is presently 58.00%.

PNM Resources Company Profile

PNM Resources, Inc, through its subsidiaries, engages in the energy and energy-related businesses 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 is primarily involved in the generation, transmission, and distribution of electricity.

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Earnings History and Estimates for PNM Resources (NYSE:PNM)

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