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.
PNM Resources Price Performance
PNM Resources stock opened at $48.30 on Wednesday. The company has a debt-to-equity ratio of 1.63, a current ratio of 0.41 and a quick ratio of 0.33. The company has a market capitalization of $4.15 billion, a PE ratio of 26.54, a price-to-earnings-growth ratio of 3.74 and a beta of 0.42. PNM Resources has a one year low of $43.43 and a one year high of $50.11. The business has a 50 day simple moving average of $47.20 and a 200 day simple moving average of $46.67.
PNM Resources (NYSE:PNM - Get Rating) last released its earnings results on Thursday, August 4th. The utilities provider reported $0.57 EPS for the quarter, beating the consensus estimate of $0.55 by $0.02. The company had revenue of $499.70 million during the quarter, compared to analysts' expectations of $445.36 million. PNM Resources had a return on equity of 10.41% and a net margin of 8.29%. The business's revenue for the quarter was up 17.2% on a year-over-year basis. During the same period last year, the firm earned $0.55 EPS. On average, sell-side analysts forecast that PNM Resources will post 2.6 EPS for the current fiscal year.
PNM Resources Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, August 31st. Shareholders of record on Wednesday, August 17th will be issued a dividend of $0.347 per share. The ex-dividend date is Tuesday, August 16th. This represents a $1.39 annualized dividend and a yield of 2.87%. PNM Resources's dividend payout ratio is presently 76.37%.
Analyst Ratings Changes
Separately, Mizuho upgraded PNM Resources from a "neutral" rating to a "buy" rating and cut their target price for the stock from $53.00 to $52.00 in a research report on Wednesday, June 22nd. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $49.00.