PNM Resources Inc. (PNM) Shares Gap Up to $33.45
PNM Resources Inc. (NYSE:PNM) shares gapped up before the market opened on Friday . The stock had previously closed at $33.38, but opened at $33.45. PNM Resources shares last traded at $33.71, with a volume of 136,915 shares.
Several brokerages have issued reports on PNM. Zacks Investment Research cut PNM Resources from a “hold” rating to a “sell” rating in a research report on Friday, April 22nd. Jefferies Group reaffirmed a “hold” rating on shares of PNM Resources in a research report on Monday, July 18th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and five have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $35.50.
The firm has a market capitalization of $2.68 billion and a PE ratio of 369.78. The firm has a 50 day moving average price of $34.24 and a 200-day moving average price of $33.04.
PNM Resources (NYSE:PNM) last released its quarterly earnings data on Monday, August 8th. The company reported $0.40 EPS for the quarter, beating analysts’ consensus estimates of $0.39 by $0.01. The business earned $315.39 million during the quarter, compared to analyst estimates of $379 million. The company’s revenue was down 10.6% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.44 earnings per share. Equities analysts expect that PNM Resources Inc. will post $1.59 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 22nd. Investors of record on Monday, August 8th will be issued a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 2.62%. The ex-dividend date of this dividend is Thursday, August 4th.
An institutional investor recently raised its position in PNM Resources stock. Wells Fargo & Company MN raised its position in shares of PNM Resources Inc. (NYSE:PNM) by 0.7% during the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 549,087 shares of the company’s stock after buying an additional 3,678 shares during the period. Wells Fargo & Company MN owned approximately 0.69% of PNM Resources worth $16,785,000 at the end of the most recent reporting period.
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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