Williams Capital Weighs in on PNM Resources Inc.’s Q3 2016 Earnings (PNM)
PNM Resources Inc. (NYSE:PNM) – Williams Capital issued their Q3 2016 earnings estimates for shares of PNM Resources in a research report issued to clients and investors on Wednesday. Williams Capital analyst C. Ellinghaus expects that the brokerage will post earnings of $0.75 per share for the quarter. Williams Capital also issued estimates for PNM Resources’ Q4 2016 earnings at $0.29 EPS, FY2016 earnings at $1.58 EPS, Q1 2017 earnings at $0.17 EPS, Q2 2017 earnings at $0.45 EPS, Q3 2017 earnings at $0.85 EPS, FY2017 earnings at $1.74 EPS and FY2018 earnings at $1.98 EPS.
A number of other equities research analysts have also commented on PNM. Zacks Investment Research raised PNM Resources from a “sell” rating to a “hold” rating in a research report on Thursday, September 15th. Jefferies Group reissued a “hold” rating and issued a $35.00 target price on shares of PNM Resources in a research report on Tuesday, August 30th. Argus dropped their target price on PNM Resources from $40.00 to $38.00 and set a “buy” rating on the stock in a research report on Thursday. SunTrust Banks Inc. dropped their target price on PNM Resources from $34.00 to $33.00 and set a “neutral” rating on the stock in a research report on Monday, September 12th. Finally, TheStreet lowered PNM Resources from a “buy” rating to a “hold” rating in a research report on Friday, August 26th. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $35.67.
Shares of PNM Resources (NYSE:PNM) traded up 0.61% on Thursday, hitting $34.42. The stock had a trading volume of 109,778 shares. PNM Resources has a 52 week low of $26.12 and a 52 week high of $36.15. The company has a market cap of $2.74 billion, a PE ratio of 378.24 and a beta of 0.24. The stock’s 50-day moving average price is $32.65 and its 200 day moving average price is $33.15.
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PNM Resources (NYSE:PNM) last issued its quarterly earnings results on Monday, August 8th. The company reported $0.40 EPS for the quarter, topping analysts’ consensus estimates of $0.39 by $0.01. PNM Resources had a return on equity of 7.00% and a net margin of 0.54%. The company earned $315.39 million during the quarter, compared to analyst estimates of $379 million. During the same period in the previous year, the company earned $0.44 earnings per share. The company’s quarterly revenue was down 10.6% compared to the same quarter last year.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Creative Planning increased its position in PNM Resources by 119.6% in the second quarter. Creative Planning now owns 2,875 shares of the company’s stock worth $102,000 after buying an additional 1,566 shares in the last quarter. Meeder Asset Management Inc. increased its position in shares of PNM Resources by 514.3% in the first quarter. Meeder Asset Management Inc. now owns 3,686 shares of the company’s stock valued at $124,000 after buying an additional 3,086 shares in the last quarter. Tower Research Capital LLC TRC acquired a new position in shares of PNM Resources during the second quarter valued at approximately $163,000. LS Investment Advisors LLC increased its position in shares of PNM Resources by 72.6% in the second quarter. LS Investment Advisors LLC now owns 4,754 shares of the company’s stock valued at $168,000 after buying an additional 2,000 shares in the last quarter. Finally, Boothbay Fund Management LLC acquired a new position in shares of PNM Resources during the first quarter valued at approximately $200,000. Hedge funds and other institutional investors own 92.60% of the company’s stock.
The business also recently declared a quarterly dividend, which will be paid on Monday, November 14th. Shareholders of record on Monday, October 31st will be paid a $0.22 dividend. The ex-dividend date of this dividend is Thursday, October 27th. This represents a $0.88 dividend on an annualized basis and a yield of 2.57%. PNM Resources’s dividend payout ratio is 1,100.00%.
PNM Resources 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 and Subsidiaries (PNM) and Texas-New Mexico Power Company and Subsidiaries (TNMP).
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