Stocks of PNM Resources Inc. (NYSE:PNM) traded higher last session on Wall Street, up 0.74% to $49.16.
According to the data, PNM Resources Inc. (NYSE:PNM) has 4 analysts covering its stock. The consensus rating among analysts is ‘Hold’. As we calculate the median target price by taking the range between a high of $53.00 and a low of $48.00, we find $50.30. Given the previous closing price of $48.80, this indicates a potential upside of 3.07 percent. PNM stock price is now 0.06% away from the 50-day moving average and 2.86% away from the 200-day moving average. The market capitalization of the company currently stands at $4.22B.
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A total of 4 analysts have issued a hold rating and 0 have given it a buy rating. Brokers who have rated the stock have averaged $50.40 as their price target over the next twelve months.
With the price target reduced from $51 to $50.30, Mizuho Downgraded its rating from Buy to Neutral for PNM Resources Inc. (NYSE: PNM). On October 20, 2022, Wells Fargo Downgraded its previous ‘Overweight’ rating to ‘Equal Weight’ on the stock reducing its target price from $53 to quote $45, while ‘Mizuho’ rates the stock as ‘Buy’.
A total of 1.34% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in PNM stock. A new stake in PNM Resources Inc. shares was purchased by PSQUARED ASSET MANAGEMENT AG during the first quarter worth $61,479,000. BROOKFIELD CORP /ON/ invested $58,068,000 in shares of PNM during the first quarter. In the first quarter, ONE FIN CAPITAL MANAGEMENT LP acquired a new stake in PNM Resources Inc. valued at approximately $24,580,000. WOODLINE PARTNERS LP acquired a new stake in PNM for approximately $24,191,000. MAN GROUP PLC purchased a new stake in PNM valued at around $13,767,000 in the second quarter. In total, there are 381 active investors with 91.40% ownership of the company’s stock.
Wednesday’s opening bell rang with an opening price of $48.76 for PNM Resources Inc. (NYSE: PNM). During the past 12 months, PNM Resources Inc. has had a low of $43.43 and a high of $49.60. As of last week, the company has a debt-to-equity ratio of 1.98, a current ratio of 0.50, and a quick ratio of 0.40. The fifty day moving average price for PNM is $49.14 and a two-hundred day moving average price translates $47.80 for the stock.
The latest earnings results from PNM Resources Inc. (NYSE: PNM) was released for Sep, 2022. According to the Utilities – Regulated Electric Company, earnings per share came in at $1.46, beating analysts’ expectations of $1.33 by 0.13. This compares to $0.13 EPS in the same period last year. The net profit margin was 7.50% and return on equity was 7.80% for PNM. The company reported revenue of $575.82 million for the quarter, compared to $434.07 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 32.65 percent. For the current quarter, analysts expect PNM to generate $244.99M in revenue.
Moreover, the firm recently paid out its quarterly dividend on 05/12/2023. Investors who held shares on 04/28/2023 were paid a $0.3675 dividend. On an annualized basis, this represents a $1.47 dividend and a 2.99% percent yield. There was an ex-dividend date of 04/27/2023 for this dividend. In terms of dividend payout ratio, PNM is presently at 70.40%.
PNM Resources Inc.(PNM) Company Profile
PNM Resources, Inc., through its subsidiaries, provides electricity and electric services in the United States. It operates through Public Service Company of New Mexico (PNM) and Texas-New Mexico Power Company (TNMP) segments. The PNM segment engages in the generation, transmission, and distribution of electricity. The segment generates electricity using coal, natural gas and oil, nuclear fuel, solar, wind, and geothermal energy sources. As of December 31, 2021, this segment had owned or leased facilities with a total net generation capacity of 2,168 megawatts; and owned 3,426 miles of electric transmission lines, 5,751 miles of distribution overhead lines, 5,765 miles of underground distribution lines, and 250 substations. The segment also owns and leases communication, office and other equipment, office space, vehicles, and real estate. The TNMP segment provides regulated transmission and distribution services. As of December 31, 2021, the segment owned 983 miles of overhead electric transmission lines, 7,297 miles of overhead distribution lines, 1,408 miles of underground distribution lines, and 113 substations. The segment also owns and leases vehicles, service facilities, and office locations throughout its service territory. The company serves approximately 806,000 residential, commercial, and industrial customers and end-users of electricity in New Mexico and Texas. PNM Resources, Inc. was incorporated in 1882 and is headquartered in Albuquerque, New Mexico.
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