PNM Resources, Inc. (Holding Co.) (PNM) Posts Earnings Results, Beats Expectations By $0.08 EPS

PNM Resources, Inc. (Holding Co.) (NYSE:PNM) announced its earnings results on Friday. The utilities provider reported $0.93 EPS for the quarter, beating analysts’ consensus estimates of $0.85 by $0.08, Bloomberg Earnings reports. PNM Resources, Inc. (Holding Co.) had a net margin of 10.05% and a return on equity of 8.57%. The business had revenue of $419.90 million during the quarter, compared to analysts’ expectations of $422.71 million. During the same period in the prior year, the company earned $0.78 earnings per share. PNM Resources, Inc. (Holding Co.) updated its FY17 guidance to $1.77-1.87 EPS.

Shares of PNM Resources, Inc. (NYSE:PNM) opened at 43.25 on Friday. The stock has a 50 day moving average of $41.55 and a 200 day moving average of $39.73. The firm has a market capitalization of $3.44 billion, a price-to-earnings ratio of 24.86 and a beta of 0.30. PNM Resources, Inc. has a 52-week low of $30.95 and a 52-week high of $43.40.

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

In other news, SVP Ronald N. Darnell sold 5,000 shares of PNM Resources, Inc. (Holding Co.) stock in a transaction that occurred on Friday, August 11th. The shares were sold at an average price of $40.97, for a total value of $204,850.00. Following the transaction, the senior vice president now directly owns 24,053 shares of the company’s stock, valued at $985,451.41. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Patrick V. Apodaca sold 5,333 shares of PNM Resources, Inc. (Holding Co.) stock in a transaction that occurred on Wednesday, August 2nd. The stock was sold at an average price of $40.43, for a total transaction of $215,613.19. Following the completion of the transaction, the senior vice president now directly owns 65,009 shares in the company, valued at $2,628,313.87. The disclosure for this sale can be found here. 1.26% of the stock is owned by insiders.

Several institutional investors have recently added to or reduced their stakes in PNM. UBS Asset Management Americas Inc. increased its position in shares of PNM Resources, Inc. (Holding Co.) by 27.4% in the first quarter. UBS Asset Management Americas Inc. now owns 56,664 shares of the utilities provider’s stock worth $2,097,000 after acquiring an additional 12,170 shares in the last quarter. Envestnet Asset Management Inc. increased its position 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 worth $178,000 after acquiring an additional 1,499 shares in the last quarter. Credit Agricole S A purchased a new position in shares of PNM Resources, Inc. (Holding Co.) in the first quarter worth approximately $718,000. OppenheimerFunds Inc. increased its position in shares of PNM Resources, Inc. (Holding Co.) by 27.1% in the first quarter. OppenheimerFunds Inc. now owns 10,778 shares of the utilities provider’s stock worth $399,000 after acquiring an additional 2,301 shares in the last quarter. Finally, Teachers Advisors LLC increased its position in shares of PNM Resources, Inc. (Holding Co.) by 3.1% in the first quarter. Teachers Advisors LLC now owns 134,773 shares of the utilities provider’s stock worth $4,987,000 after acquiring an additional 3,998 shares in the last quarter. 94.18% of the stock is currently owned by institutional investors and hedge funds.

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A number of equities research analysts have recently commented on PNM shares. BidaskClub cut shares of PNM Resources, Inc. (Holding Co.) from a “buy” rating to a “hold” rating in a report on Saturday, July 1st. Zacks Investment Research raised shares of PNM Resources, Inc. (Holding Co.) from a “sell” rating to a “hold” rating in a report on Wednesday, July 12th. Jefferies Group LLC reaffirmed a “hold” rating and issued a $38.00 target price on shares of PNM Resources, Inc. (Holding Co.) in a report on Friday, July 21st. Argus reaffirmed a “buy” rating and issued a $41.40 target price (down from $43.00) on shares of PNM Resources, Inc. (Holding Co.) in a report on Friday, August 11th. Finally, Ladenburg Thalmann Financial Services cut shares of PNM Resources, Inc. (Holding Co.) from a “buy” rating to a “neutral” rating and set a $41.00 target price for the company. in a report on Friday, August 18th. Five research analysts have rated the stock with a sell rating, eight have assigned a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $38.74.

About PNM Resources, Inc. (Holding Co.)

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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