PNM Resources (PNM) Stock Forecast, Price & News

3 Wall Street analysts have issued "buy," "hold," and "sell" ratings for PNM Resources in the last year. There are currently 2 hold ratings and 1 buy rating for the stock. The consensus among Wall Street analysts is that investors should "hold" PNM shares. A hold rating indicates that analysts believe investors should maintain any existing positions they have in PNM, but not buy additional shares or sell existing shares.
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3 analysts have issued 12 month price objectives for PNM Resources' stock. Their PNM share price forecasts range from $48.00 to $55.00. On average, they predict the company's share price to reach $51.10 in the next twelve months. This suggests a possible upside of 10.3% from the stock's current price.
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PNM Resources' stock was trading at $48.79 at the start of the year. Since then, PNM shares have decreased by 5.0% and is now trading at $46.33.
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PNM Resources saw a increase in short interest in the month of May. As of May 15th, there was short interest totaling 1,810,000 shares, an increase of 25.7% from the April 30th total of 1,440,000 shares. Based on an average daily volume of 665,200 shares, the short-interest ratio is presently 2.7 days. Approximately 2.1% of the shares of the company are short sold.
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The company is scheduled to release its next quarterly earnings announcement on Thursday, August 3rd 2023.
View our PNM earnings forecast.

PNM Resources, Inc. (NYSE:PNM) issued its quarterly earnings results on Friday, May, 5th. The utilities provider reported $0.55 EPS for the quarter, beating the consensus estimate of $0.39 by $0.16. The utilities provider earned $544 million during the quarter, compared to analysts' expectations of $460.14 million. PNM Resources had a net margin of 8.89% and a trailing twelve-month return on equity of 10.55%. The business's revenue for the quarter was up 22.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.50 EPS.

PNM Resources announced a quarterly dividend on Tuesday, February 28th. Stockholders of record on Friday, April 28th will be given a dividend of $0.368 per share on Friday, May 12th. This represents a $1.47 dividend on an annualized basis and a yield of 3.18%. The ex-dividend date is Thursday, April 27th.
Read our dividend analysis for PNM.

ETFs with the largest weight of PNM Resources (NYSE:PNM) stock in their portfolio include ProShares Russell 2000 Dividend Growers ETF (SMDV), iShares MSCI USA Small-Cap Min Vol Factor ETF (SMMV), iShares U.S. Infrastructure ETF (IFRA), Franklin U.S. Small Cap Multifactor Index ETF (FLQS), Principal U.S. Small-Cap Multi-Factor ETF (PSC), First Trust Value Line Dividend Index Fund (FVD), Hypatia Women CEO ETF (WCEO) and First Trust Horizon Managed Volatility Small/Mid ETF (HSMV).

PNM Resources (NYSE:PNM) pays an annual dividend of $1.47 per share and currently has a dividend yield of 3.15%. The company has been increasing its dividend for 11 consecutive years, indicating the company has a strong committment to maintain and grow its dividend. The dividend payout ratio is 60.74%. This payout ratio is at a healthy, sustainable level, below 75%. Based on earnings estimates, PNM will have a dividend payout ratio of 51.40% next year. This indicates that the company will be able to sustain or increase its dividend.
Read our dividend analysis for PNM.

PNM Resources issued an update on its FY 2023 earnings guidance on Sunday, May, 7th. The company provided EPS guidance of $2.65-$2.75 for the period, compared to the consensus estimate of $2.72. The company issued revenue guidance of -.

18 employees have rated PNM Resources Chief Executive Officer Patricia K. (Pat) Vincent-Collawn on Glassdoor.com. Patricia K. (Pat) Vincent-Collawn has an approval rating of 45% among the company's employees. This puts Patricia K. (Pat) Vincent-Collawn in the bottom 10% of approval ratings compared to other CEOs of publicly-traded companies.

Based on aggregate information from My MarketBeat watchlists, some companies that other PNM Resources investors own include AbbVie (ABBV), PepsiCo (PEP), Altria Group (MO), Pfizer (PFE), AT&T (T), Exxon Mobil (XOM), Abbott Laboratories (ABT), Emerson Electric (EMR), Target (TGT) and Colgate-Palmolive (CL).

PNM Resources trades on the New York Stock Exchange (NYSE) under the ticker symbol "PNM."

PNM Resources' stock is owned by many different retail and institutional investors. Top institutional investors include BlackRock Inc. (12.93%), PSquared Asset Management AG (4.77%), State Street Corp (3.93%), Geode Capital Management LLC (1.91%), Gabelli Funds LLC (1.88%) and Dimensional Fund Advisors LP (1.79%).
View institutional ownership trends.

Shares of PNM stock can be purchased through any online brokerage account. Popular online brokerages with access to the U.S. stock market include WeBull, Vanguard Brokerage Services, TD Ameritrade, E*TRADE, Robinhood, Fidelity, and Charles Schwab.
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One share of PNM stock can currently be purchased for approximately $46.33.

PNM Resources (NYSE:PNM) has a market capitalization of $3.98 billion and generates $2.25 billion in revenue each year. The utilities provider earns $170.06 million in net income (profit) each year or $2.42 on an earnings per share basis.

The company employs 1,500 workers across the globe.

PNM Resources' mailing address is 414 SILVER AVE. SW, ALBUQUERQUE NM, 87102. The official website for the company is www.pnmresources.com. The utilities provider can be reached via phone at (505) 241-2700, via email at lisa.goodman@pnmresources.com, or via fax at 505-241-4311.