PNM Resources, Inc. (Holding Co.) (PNM) Releases Quarterly Earnings Results, Beats Estimates By $0.08 EPS

PNM Resources, Inc. (Holding Co.) (NYSE:PNM) issued its quarterly earnings results on Friday, October 27th. The utilities provider reported $0.93 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.85 by $0.08, Bloomberg Earnings reports. PNM Resources, Inc. (Holding Co.) had a net margin of 11.27% and a return on equity of 9.18%. The business had revenue of $419.90 million during the quarter, compared to the consensus estimate of $422.71 million. During the same quarter in the prior year, the firm earned $0.78 EPS. PNM Resources, Inc. (Holding Co.) updated its FY17 guidance to $1.77-1.87 EPS.

Shares of PNM Resources, Inc. (PNM) opened at $43.40 on Monday. PNM Resources, Inc. has a 1 year low of $31.00 and a 1 year high of $43.80. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.43 and a current ratio of 0.53. The company has a market cap of $3,456.98, a P/E ratio of 21.27, a PEG ratio of 4.27 and a beta of 0.36.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, November 14th. Stockholders of record on Monday, October 30th will be given a dividend of $0.2425 per share. This represents a $0.97 annualized dividend and a dividend yield of 2.24%. The ex-dividend date is Friday, October 27th. PNM Resources, Inc. (Holding Co.)’s dividend payout ratio is 48.74%.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Meeder Asset Management Inc. acquired a new position in PNM Resources, Inc. (Holding Co.) during the third quarter valued at approximately $170,000. IFP Advisors Inc grew its holdings in PNM Resources, Inc. (Holding Co.) by 42.2% during the second quarter. IFP Advisors Inc now owns 4,247 shares of the utilities provider’s stock valued at $162,000 after purchasing an additional 1,260 shares during the period. Flinton Capital Management LLC grew its holdings in PNM Resources, Inc. (Holding Co.) by 71.4% during the second quarter. Flinton Capital Management LLC now owns 4,416 shares of the utilities provider’s stock valued at $169,000 after purchasing an additional 1,840 shares during the period. US Bancorp DE grew its holdings in PNM Resources, Inc. (Holding Co.) by 23.7% during the second quarter. US Bancorp DE now owns 4,716 shares of the utilities provider’s stock valued at $181,000 after purchasing an additional 905 shares during the period. Finally, Envestnet Asset Management Inc. boosted its holdings in shares of PNM Resources, Inc. (Holding Co.) by 45.1% in the first quarter. Envestnet Asset Management Inc. now owns 4,825 shares of the utilities provider’s stock valued at $178,000 after buying an additional 1,499 shares during the period. Hedge funds and other institutional investors own 93.67% of the company’s stock.

PNM has been the topic of a number of recent research reports. Zacks Investment Research downgraded shares of PNM Resources, Inc. (Holding Co.) from a “hold” rating to a “sell” rating in a report on Saturday, October 21st. KeyCorp reiterated a “hold” rating on shares of PNM Resources, Inc. (Holding Co.) in a research note on Friday, September 1st. BidaskClub upgraded shares of PNM Resources, Inc. (Holding Co.) from a “buy” rating to a “strong-buy” rating in a research note on Thursday, August 10th. Williams Capital lowered shares of PNM Resources, Inc. (Holding Co.) from a “hold” rating to a “sell” rating and set a $38.00 target price on the stock. in a research note on Monday, September 18th. Finally, Argus restated a “buy” rating and issued a $41.40 price target (down from $43.00) on shares of PNM Resources, Inc. (Holding Co.) in a research report on Friday, August 11th. Four research analysts have rated the stock with a sell rating, eight have assigned a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $39.74.

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PNM Resources, Inc. (Holding Co.) Company Profile

PNM Resources, Inc (PNMR) is an investor-owned holding company with approximately two regulated utilities providing electricity and electric services in New Mexico and Texas. PNMR’s electric utilities are Public Service Company of New Mexico (PNM) and Texas-New Mexico Power Company (TNMP). It operates in three segments: PNM, TNMP, and Corporate and Other.

Earnings History for PNM Resources, Inc. (Holding Co.) (NYSE:PNM)

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