PNM Resources Inc. (PNM) Shares Gap Up to $33.45
PNM Resources Inc. (NYSE:PNM) shares gapped up prior to trading 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 changing hands.
A number of research analysts have commented on the stock. Jefferies Group reaffirmed a “hold” rating on shares of PNM Resources in a research report on Monday, July 18th. Zacks Investment Research cut shares of PNM Resources from a “hold” rating to a “sell” rating in a research report on Saturday, June 18th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and five have assigned a buy rating to the company. PNM Resources presently has a consensus rating of “Buy” and a consensus price target of $35.50.
The firm has a market cap of $2.68 billion and a P/E ratio of 373.89. The stock 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 announced its quarterly earnings results 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. The firm earned $315.39 million during the quarter, compared to analysts’ expectations of $379 million. During the same quarter in the prior year, the business earned $0.44 EPS. The company’s quarterly revenue was down 10.6% compared to the same quarter last year. Equities research analysts anticipate that PNM Resources Inc. will post $1.59 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Monday, August 22nd. Stockholders of record on Monday, August 8th will be given a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend 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 increased its position in PNM Resources Inc. (NYSE:PNM) by 0.7% during the fourth quarter, according to its most recent Form 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 0.69% of PNM Resources worth $16,785,000 as of its most recent filing with the SEC.
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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