PNM Resources Inc. (PNM) Trading Down 1%
PNM Resources Inc. (NYSE:PNM) traded down 1% during trading on Monday . The company traded as low as $33.30 and last traded at $33.30, with a volume of 255,253 shares trading hands. The stock had previously closed at $33.65.
A number of equities research analysts recently commented on the stock. Zacks Investment Research cut shares of PNM Resources from a “hold” rating to a “sell” rating in a research report on Saturday, June 18th. Jefferies Group reissued a “hold” rating on shares of PNM Resources in a research report on Monday, May 2nd. One investment analyst has rated the stock with a sell rating, two have given a hold rating and five have given a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $35.50.
The stock has a 50-day moving average of $34.22 and a 200 day moving average of $33.10. The firm has a market capitalization of $2.61 billion and a PE ratio of 360.00.
PNM Resources (NYSE:PNM) last announced its quarterly earnings data on Monday, August 8th. The company reported $0.40 earnings per share for the quarter, beating analysts’ consensus estimates of $0.39 by $0.01. During the same quarter last year, the firm posted $0.44 EPS. The business earned $315.39 million during the quarter, compared to analyst estimates of $379 million. The company’s revenue for the quarter was down 10.6% on a year-over-year basis. Equities analysts forecast that PNM Resources Inc. will post $1.59 EPS for the current 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 dividend yield of 2.69%. 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 disclosure with the SEC. The institutional investor owned 549,087 shares of the company’s stock after buying an additional 3,678 shares during the period. Wells Fargo & Company MN owned about 0.69% of PNM Resources worth $16,785,000 as of its most recent SEC filing.
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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