$0.36 EPS Expected for PNM Resources Inc (NYSE:PNM) This Quarter

Analysts expect PNM Resources Inc (NYSE:PNM) to report $0.36 earnings per share for the current quarter, Zacks reports. Zero analysts have provided estimates for PNM Resources’ earnings. PNM Resources reported earnings per share of $0.18 in the same quarter last year, which suggests a positive year over year growth rate of 100%. The business is scheduled to issue its next quarterly earnings report on Wednesday, February 26th.

On average, analysts expect that PNM Resources will report full year earnings of $2.15 per share for the current financial year, with EPS estimates ranging from $2.14 to $2.15. For the next financial year, analysts forecast that the company will report earnings of $2.22 per share, with EPS estimates ranging from $2.21 to $2.22. Zacks’ EPS calculations are an average based on a survey of research firms that follow PNM Resources.

PNM Resources (NYSE:PNM) last released its quarterly earnings results on Friday, November 1st. The utilities provider reported $1.29 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.25 by $0.04. The firm had revenue of $433.59 million during the quarter, compared to analyst estimates of $562.33 million. PNM Resources had a positive return on equity of 9.18% and a negative net margin of 0.64%. During the same period in the previous year, the company posted $1.08 EPS.

PNM has been the subject of several recent research reports. Zacks Investment Research raised PNM Resources from a “sell” rating to a “hold” rating and set a $54.00 price target for the company in a research report on Friday, December 20th. Mizuho upped their target price on PNM Resources from $54.00 to $55.00 and gave the company a “buy” rating in a research report on Monday, January 13th. Wells Fargo & Co upped their target price on PNM Resources from $53.00 to $54.00 and gave the company an “equal weight” rating in a research report on Thursday, December 19th. UBS Group reduced their target price on PNM Resources from $53.00 to $52.00 and set a “neutral” rating on the stock in a research report on Thursday, December 19th. Finally, ValuEngine raised PNM Resources from a “sell” rating to a “hold” rating in a research report on Tuesday, December 3rd. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and two have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $53.14.

A number of large investors have recently made changes to their positions in the stock. Zimmer Partners LP purchased a new stake in PNM Resources during the 3rd quarter worth about $23,436,000. Price T Rowe Associates Inc. MD lifted its stake in shares of PNM Resources by 6.5% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 7,402,748 shares of the utilities provider’s stock valued at $376,874,000 after purchasing an additional 449,729 shares during the last quarter. Nuveen Asset Management LLC lifted its stake in shares of PNM Resources by 5,554.4% in the 2nd quarter. Nuveen Asset Management LLC now owns 358,152 shares of the utilities provider’s stock valued at $18,233,000 after purchasing an additional 351,818 shares during the last quarter. Millennium Management LLC lifted its stake in shares of PNM Resources by 475.8% in the 3rd quarter. Millennium Management LLC now owns 259,806 shares of the utilities provider’s stock valued at $13,530,000 after purchasing an additional 214,687 shares during the last quarter. Finally, Vanguard Group Inc. lifted its stake in shares of PNM Resources by 2.0% in the 2nd quarter. Vanguard Group Inc. now owns 9,394,723 shares of the utilities provider’s stock valued at $478,285,000 after purchasing an additional 187,521 shares during the last quarter. 90.68% of the stock is currently owned by institutional investors.

Shares of PNM traded up $0.19 during trading hours on Friday, hitting $51.38. The company had a trading volume of 453,334 shares, compared to its average volume of 600,415. The company has a market capitalization of $4.08 billion, a PE ratio of -395.23, a price-to-earnings-growth ratio of 4.03 and a beta of 0.16. The company has a current ratio of 0.36, a quick ratio of 0.28 and a debt-to-equity ratio of 1.48. PNM Resources has a one year low of $41.14 and a one year high of $52.98. The company’s fifty day moving average price is $49.89 and its two-hundred day moving average price is $50.32.

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Monday, February 3rd will be given a dividend of $0.3075 per share. This is a positive change from PNM Resources’s previous quarterly dividend of $0.29. This represents a $1.23 annualized dividend and a yield of 2.39%. The ex-dividend date is Friday, January 31st. PNM Resources’s dividend payout ratio is currently 58.00%.

About PNM Resources

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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