PNM Resources Inc. (PNM) Trading Down 1%
PNM Resources Inc. (NYSE:PNM) shares 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 research analysts recently commented on the company. Zacks Investment Research cut PNM Resources from a “hold” rating to a “sell” rating in a research note on Saturday, June 18th. Jefferies Group reaffirmed a “hold” rating on shares of PNM Resources in a research note on Monday, May 2nd. One equities research 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 stock has a consensus rating of “Buy” and a consensus target price of $35.50.
The firm has a 50 day moving average price of $34.16 and a 200-day moving average price of $33.11. The stock has a market capitalization of $2.53 billion and a P/E ratio of 348.6802.
PNM Resources (NYSE:PNM) last announced its quarterly earnings results on Monday, August 8th. The company reported $0.40 EPS for the quarter, topping the consensus estimate of $0.39 by $0.01. The company earned $315.39 million during the quarter, compared to analysts’ expectations of $379 million. During the same quarter in the previous year, the firm earned $0.44 EPS. The firm’s revenue for the quarter was down 10.6% compared to the same quarter last year. Equities research analysts predict that PNM Resources Inc. will post $1.58 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Monday, August 22nd. Shareholders of record on Monday, August 8th will be paid a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 2.74%. 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 stake in PNM Resources Inc. (NYSE:PNM) by 0.7% during the fourth quarter, according to its most recent 13F filing 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 at the end of the most recent quarter.
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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