PNM Resources Inc (PNM) to Post Q1 2017 Earnings of $0.26 Per Share, KeyCorp Forecasts
PNM Resources Inc (NYSE:PNM) – Equities research analysts at KeyCorp issued their Q1 2017 earnings per share (EPS) estimates for PNM Resources in a research note issued on Tuesday. KeyCorp analyst P. Ridzon forecasts that the utilities provider will post earnings of $0.26 per share for the quarter.
Several other brokerages also recently weighed in on PNM. Mizuho began coverage on PNM Resources in a report on Wednesday. They set an “underperform” rating and a $32.25 price target for the company. Zacks Investment Research downgraded PNM Resources from a “hold” rating to a “sell” rating in a report on Wednesday, April 12th. Evercore ISI began coverage on PNM Resources in a report on Friday, March 31st. They set an “in-line” rating and a $36.00 price target for the company. Williams Capital downgraded PNM Resources from a “buy” rating to a “hold” rating and increased their price target for the stock from $35.00 to $36.00 in a report on Wednesday, March 1st. Finally, Jefferies Group LLC increased their price target on PNM Resources to $36.50 and gave the stock a “hold” rating in a report on Wednesday, March 1st. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and three have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $36.19.
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Shares of PNM Resources (NYSE:PNM) opened at 37.50 on Thursday. The firm has a market capitalization of $2.99 billion, a PE ratio of 25.68 and a beta of 0.30. The company has a 50-day moving average of $37.04 and a 200-day moving average of $34.23. PNM Resources has a 1-year low of $30.62 and a 1-year high of $38.20.
PNM Resources (NYSE:PNM) last released its earnings results on Tuesday, February 28th. The utilities provider reported $0.34 EPS for the quarter, topping analysts’ consensus estimates of $0.31 by $0.03. The company earned $1 million during the quarter, compared to analysts’ expectations of $310 million. PNM Resources had a net margin of 0.07% and a return on equity of 7.14%. PNM Resources’s revenue for the quarter was up .0% on a year-over-year basis. During the same period last year, the business earned $0.23 EPS.
The business also recently declared a quarterly dividend, which will be paid on Monday, May 15th. Investors of record on Monday, May 1st will be issued a dividend of $0.2425 per share. This represents a $0.97 annualized dividend and a dividend yield of 2.59%. The ex-dividend date of this dividend is Thursday, April 27th.
In other PNM Resources news, CFO Charles N. Eldred sold 4,000 shares of the firm’s stock in a transaction on Monday, March 6th. The stock was sold at an average price of $36.40, for a total value of $145,600.00. Following the completion of the sale, the chief financial officer now owns 99,311 shares of the company’s stock, valued at $3,614,920.40. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 1.22% of the stock is owned by company insiders.
Large investors have recently added to or reduced their stakes in the stock. Strs Ohio increased its stake in PNM Resources by 1,290.5% in the third quarter. Strs Ohio now owns 481,100 shares of the utilities provider’s stock worth $15,741,000 after buying an additional 446,500 shares during the period. BlackRock Fund Advisors increased its stake in PNM Resources by 5.6% in the third quarter. BlackRock Fund Advisors now owns 4,283,370 shares of the utilities provider’s stock worth $140,152,000 after buying an additional 226,439 shares during the period. Prudential PLC increased its stake in PNM Resources by 42.0% in the fourth quarter. Prudential PLC now owns 1,105,800 shares of the utilities provider’s stock worth $37,929,000 after buying an additional 326,800 shares during the period. Ameriprise Financial Inc. increased its stake in PNM Resources by 307.2% in the third quarter. Ameriprise Financial Inc. now owns 1,294,294 shares of the utilities provider’s stock worth $42,344,000 after buying an additional 976,477 shares during the period. Finally, Miller Howard Investments Inc. NY increased its stake in PNM Resources by 0.7% in the third quarter. Miller Howard Investments Inc. NY now owns 73,872 shares of the utilities provider’s stock worth $2,417,000 after buying an additional 486 shares during the period. 93.48% of the stock is owned by institutional investors.
About PNM Resources
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.
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