Brokers Issue Forecasts for PNM Resources Inc’s FY2019 Earnings (PNM)
PNM Resources Inc (NYSE:PNM) – Equities research analysts at Williams Capital issued their FY2019 earnings per share estimates for shares of PNM Resources in a research report issued on Monday, March 18th. Williams Capital analyst C. Ellinghaus anticipates that the utilities provider will post earnings per share of $2.16 for the year. Williams Capital has a “Sell” rating on the stock. Williams Capital also issued estimates for PNM Resources’ FY2020 earnings at $2.23 EPS and FY2021 earnings at $2.37 EPS.
PNM Resources (NYSE:PNM) last released its quarterly earnings results on Wednesday, February 27th. The utilities provider reported $0.18 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.17 by $0.01. PNM Resources had a net margin of 5.98% and a return on equity of 9.00%. During the same period in the previous year, the company posted $0.24 EPS.
PNM Resources stock opened at $46.49 on Thursday. The stock has a market capitalization of $3.69 billion, a price-to-earnings ratio of 23.25, a P/E/G ratio of 4.63 and a beta of 0.28. The company has a current ratio of 0.59, a quick ratio of 0.45 and a debt-to-equity ratio of 1.52. PNM Resources has a twelve month low of $34.95 and a twelve month high of $47.67.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 16th. Shareholders of record on Thursday, May 2nd will be given a dividend of $0.29 per share. The ex-dividend date of this dividend is Wednesday, May 1st. This represents a $1.16 dividend on an annualized basis and a dividend yield of 2.50%. PNM Resources’s payout ratio is presently 58.00%.
In other PNM Resources news, SVP Patrick V. Apodaca sold 4,800 shares of the stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $44.32, for a total transaction of $212,736.00. Following the transaction, the senior vice president now owns 63,258 shares in the company, valued at approximately $2,803,594.56. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Charles N. Eldred sold 5,061 shares of the stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $44.23, for a total transaction of $223,848.03. Following the transaction, the chief financial officer now owns 108,289 shares in the company, valued at approximately $4,789,622.47. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 24,953 shares of company stock worth $1,110,564. Company insiders own 1.25% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of the stock. IFP Advisors Inc boosted its position in shares of PNM Resources by 32.9% during the 4th quarter. IFP Advisors Inc now owns 1,720 shares of the utilities provider’s stock worth $70,000 after acquiring an additional 426 shares in the last quarter. Advisors Asset Management Inc. boosted its position in shares of PNM Resources by 1.8% during the 4th quarter. Advisors Asset Management Inc. now owns 26,882 shares of the utilities provider’s stock worth $1,105,000 after acquiring an additional 481 shares in the last quarter. Comerica Bank boosted its position in shares of PNM Resources by 1.2% during the 4th quarter. Comerica Bank now owns 52,292 shares of the utilities provider’s stock worth $2,194,000 after acquiring an additional 598 shares in the last quarter. Arizona State Retirement System boosted its position in shares of PNM Resources by 1.1% during the 4th quarter. Arizona State Retirement System now owns 57,171 shares of the utilities provider’s stock worth $2,349,000 after acquiring an additional 613 shares in the last quarter. Finally, Van ECK Associates Corp boosted its position in shares of PNM Resources by 5.6% during the 4th quarter. Van ECK Associates Corp now owns 15,651 shares of the utilities provider’s stock worth $643,000 after acquiring an additional 833 shares in the last quarter. Institutional investors and hedge funds own 90.05% of the company’s stock.
PNM Resources Company Profile
PNM Resources, Inc, through its subsidiaries, engages in the energy and energy-related businesses 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 is primarily involved in the generation, transmission, and distribution of electricity.
Further Reading: Asset Allocation
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