PNM Resources, Inc. (Holding Co (NYSE:PNM):
PNM Declares Preferred Dividend.
The company is down from yesterday’s close of $39.3.
PNM Resources, Inc. (Holding Co also declared a dividend that was paid on Monday May 15th, 2017. The dividend payment was $0.243 per share for the quarter or $0.97 annualized. This dividend represents a yeild of $2.47 which is the dividend as a percentage of the current share price. The ex-dividend date was set for Thursday the 27th of April 2017.
PNM Resources, Inc. (PNMR), launched on March 3, 2000, 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 (PNM) and Texas-New Mexico Power Company (TNMP). It operates in three segments: PNM, TNMP, and Corporate and Other. The Company, through its Website, provides information, including news releases, notices of Webcasts, and filings with the Securities and Exchange Commission (SEC)..
Shares are trading at $39.05 just a bit higher than the 50 day moving average which is $37.63 and barely above the 200 day moving average of $35.70. The 50 day moving average was up $1.40 or +3.715% whereas the 200 day average was up by +9.328%.
The P/E ratio is 24.104 and the market cap is 3.11B. In the last earnings report the EPS was $1.62 and is estimated to be $1.82 for the current year with 79,653,000 shares now outstanding. Analysts expect next quarter’s EPS will be $0.84 and the next full year EPS is projected to be $1.80.
A few Wall Street analysts have weighed in on the company recently. On December 2 the stock rating was downgraded to “Equal-Weight” from “Overweight” by analysts at Barclays. On October 4 the company was upgraded from “” to “Overweight” and a price target of $37.00 was set in a report issued by Williams Capital.
September 29 investment analysts at Barclays kept the stock rating at “Overweight” but raised the price expectation from $36.00 to $37.00. On September 26 SunTrust Robinson Humphrey kept the company rating at “Neutral” and moved up the price target to $35.00 from $33.00.
On September 20, 2016 the stock rating was changed to a “Buy” according to a Jefferies report which is up from the previous “Hold” rating. On September 12 SunTrust Robinson Humphrey made no change to the stock rating of “Neutral” and lowered the price target from $34.00 to $33.00.