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

PNM Resources (NYSE:PNMGet Rating) updated its FY 2022 earnings guidance on Tuesday. The company provided earnings per share guidance of $2.50-$2.60 for the period, compared to the consensus earnings per share estimate of $2.56. The company issued revenue guidance of -. PNM Resources also updated its FY 2023 guidance to $2.60-$2.75 EPS.

Wall Street Analysts Forecast Growth

Separately, Mizuho lowered their target price on PNM Resources from $52.00 to $51.00 and set a buy rating for the company in a research note on Wednesday, September 7th.

PNM Resources Price Performance

NYSE PNM traded down $0.41 during trading on Friday, hitting $46.78. 34,733 shares of the company’s stock were exchanged, compared to its average volume of 619,181. The stock’s 50 day moving average price is $47.74 and its two-hundred day moving average price is $47.15. PNM Resources has a fifty-two week low of $43.43 and a fifty-two week high of $50.11. The company has a current ratio of 0.41, a quick ratio of 0.33 and a debt-to-equity ratio of 1.63. The company has a market cap of $4.02 billion, a PE ratio of 25.93, a P/E/G ratio of 4.30 and a beta of 0.42.

PNM Resources (NYSE:PNMGet Rating) last released its quarterly earnings data on Thursday, August 4th. The utilities provider reported $0.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.55 by $0.02. PNM Resources had a return on equity of 10.41% and a net margin of 8.29%. The company had revenue of $499.70 million during the quarter, compared to the consensus estimate of $445.36 million. During the same quarter in the prior year, the firm posted $0.55 earnings per share. The firm’s revenue was up 17.2% compared to the same quarter last year. Research analysts expect that PNM Resources will post 2.6 EPS for the current year.

PNM Resources Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 10th. Stockholders of record on Thursday, October 27th will be paid a $0.347 dividend. This represents a $1.39 annualized dividend and a dividend yield of 2.97%. The ex-dividend date of this dividend is Wednesday, October 26th. PNM Resources’s dividend payout ratio is currently 76.37%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Great West Life Assurance Co. Can increased its position in PNM Resources by 8.2% during the 1st quarter. Great West Life Assurance Co. Can now owns 46,260 shares of the utilities provider’s stock valued at $2,263,000 after purchasing an additional 3,493 shares during the period. Yousif Capital Management LLC increased its position in PNM Resources by 1.6% during the 1st quarter. Yousif Capital Management LLC now owns 45,120 shares of the utilities provider’s stock valued at $2,151,000 after purchasing an additional 724 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp acquired a new stake in PNM Resources during the 1st quarter valued at approximately $5,387,000. Sei Investments Co. increased its position in PNM Resources by 114.7% during the 1st 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. Finally, Allianz Asset Management GmbH increased its position in PNM Resources by 0.8% during the 1st quarter. Allianz Asset Management GmbH now owns 391,228 shares of the utilities provider’s stock valued at $18,650,000 after purchasing an additional 2,959 shares during the period. Institutional investors and hedge funds own 91.18% of the company’s stock.

PNM Resources Company Profile

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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.

Further Reading

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