PNM Resources (NYSE:PNM) – KeyCorp lowered their Q1 2018 EPS estimates for shares of PNM Resources in a research note issued on Wednesday, April 18th. KeyCorp analyst P. Ridzon now expects that the utilities provider will earn $0.21 per share for the quarter, down from their prior estimate of $0.28.
Several other brokerages have also issued reports on PNM. Zacks Investment Research lowered PNM Resources from a “hold” rating to a “sell” rating in a research note on Tuesday, January 2nd. SunTrust Banks set a $35.00 target price on PNM Resources and gave the company a “hold” rating in a research note on Monday, February 5th. Mizuho restated a “sell” rating and issued a $30.50 target price on shares of PNM Resources in a research note on Thursday, January 11th. UBS initiated coverage on PNM Resources in a research note on Friday, February 2nd. They issued a “sell” rating and a $36.00 target price on the stock. Finally, Royal Bank of Canada restated a “hold” rating and issued a $40.00 target price on shares of PNM Resources in a research note on Thursday, February 1st. Four analysts have rated the stock with a sell rating, eight have given a hold rating, two have given a buy rating and one has given a strong buy rating to the company. PNM Resources presently has an average rating of “Hold” and a consensus price target of $38.91.
Shares of PNM opened at $38.75 on Friday. The firm has a market capitalization of $3,074.63, a price-to-earnings ratio of 19.90, a PEG ratio of 3.86 and a beta of 0.26. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.27 and a current ratio of 0.35. PNM Resources has a 1 year low of $33.75 and a 1 year high of $46.00.
PNM Resources (NYSE:PNM) last issued its earnings results on Tuesday, February 27th. The utilities provider reported $0.24 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.19 by $0.05. The firm had revenue of $332.61 million for the quarter, compared to analyst estimates of $330.25 million. PNM Resources had a return on equity of 8.71% and a net margin of 5.55%. During the same period in the previous year, the company posted $0.34 earnings per share.
Several large investors have recently added to or reduced their stakes in the stock. Segall Bryant & Hamill LLC raised its stake in shares of PNM Resources by 8.5% during the 4th quarter. Segall Bryant & Hamill LLC now owns 111,932 shares of the utilities provider’s stock valued at $4,528,000 after purchasing an additional 8,740 shares during the period. MetLife Investment Advisors LLC bought a new stake in shares of PNM Resources during the 4th quarter valued at $3,510,000. Magellan Asset Management Ltd raised its stake in shares of PNM Resources by 5.7% during the 4th quarter. Magellan Asset Management Ltd now owns 53,773 shares of the utilities provider’s stock valued at $2,175,000 after purchasing an additional 2,904 shares during the period. Vident Investment Advisory LLC bought a new stake in shares of PNM Resources during the 4th quarter valued at $215,000. Finally, Dean Capital Management bought a new stake in shares of PNM Resources during the 4th quarter valued at $4,533,000. Institutional investors own 91.77% of the company’s stock.
In related news, SVP Ronald N. Darnell sold 3,162 shares of the business’s stock in a transaction on Monday, March 5th. The stock was sold at an average price of $35.95, for a total transaction of $113,673.90. Following the sale, the senior vice president now directly owns 29,726 shares in the company, valued at approximately $1,068,649.70. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP Joseph Don Tarry sold 2,954 shares of the business’s stock in a transaction on Monday, March 5th. The shares were sold at an average price of $35.70, for a total value of $105,457.80. Following the sale, the vice president now owns 13,845 shares in the company, valued at $494,266.50. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 7,616 shares of company stock worth $272,457. 1.26% of the stock is currently owned by corporate insiders.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 16th. Investors of record on Wednesday, May 2nd will be paid a dividend of $0.265 per share. The ex-dividend date is Tuesday, May 1st. This represents a $1.06 dividend on an annualized basis and a dividend yield of 2.74%. PNM Resources’s payout ratio is 54.64%.
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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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