Analysts expect PNM Resources Inc (NYSE:PNM) to announce earnings of $0.17 per share for the current quarter, Zacks reports. Zero analysts have issued estimates for PNM Resources’ earnings, with the highest EPS estimate coming in at $0.19 and the lowest estimate coming in at $0.15. PNM Resources reported earnings per share of $0.24 in the same quarter last year, which suggests a negative year over year growth rate of 29.2%. The company is expected to report its next earnings results before the market opens on Wednesday, February 27th.

On average, analysts expect that PNM Resources will report full-year earnings of $1.98 per share for the current year, with EPS estimates ranging from $1.97 to $2.00. For the next year, analysts forecast that the firm will post earnings of $2.13 per share, with EPS estimates ranging from $2.12 to $2.14. Zacks’ EPS averages are a mean average based on a survey of analysts that follow PNM Resources.

A number of equities research analysts recently commented on PNM shares. Zacks Investment Research raised shares of PNM Resources from a “hold” rating to a “buy” rating and set a $47.00 price target on the stock in a report on Saturday, January 12th. Bank of America reaffirmed an “underperform” rating and issued a $42.00 price target (up previously from $39.00) on shares of PNM Resources in a report on Tuesday, December 4th. Mizuho cut shares of PNM Resources from a “neutral” rating to an “underperform” rating and lowered their target price for the company from $39.50 to $38.50 in a report on Monday, January 14th. Finally, Barclays boosted their target price on shares of PNM Resources from $38.00 to $39.00 and gave the company a “sell” rating in a report on Monday, November 19th. Three analysts have rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the stock. PNM Resources has an average rating of “Hold” and a consensus price target of $40.25.

Hedge funds and other institutional investors have recently bought and sold shares of the business. BlackRock Inc. raised its stake in shares of PNM Resources by 1.9% during the fourth quarter. BlackRock Inc. now owns 9,639,611 shares of the utilities provider’s stock valued at $396,091,000 after acquiring an additional 178,580 shares during the last quarter. Vanguard Group Inc. raised its stake in PNM Resources by 1.1% in the third quarter. Vanguard Group Inc. now owns 8,930,685 shares of the utilities provider’s stock worth $352,315,000 after buying an additional 97,356 shares in the last quarter. Vanguard Group Inc raised its stake in PNM Resources by 1.1% in the third quarter. Vanguard Group Inc now owns 8,930,685 shares of the utilities provider’s stock worth $352,315,000 after buying an additional 97,356 shares in the last quarter. Renaissance Technologies LLC raised its stake in PNM Resources by 8.0% in the third quarter. Renaissance Technologies LLC now owns 2,488,600 shares of the utilities provider’s stock worth $98,175,000 after buying an additional 183,400 shares in the last quarter. Finally, Alliancebernstein L.P. raised its stake in PNM Resources by 6.1% in the third quarter. Alliancebernstein L.P. now owns 2,334,431 shares of the utilities provider’s stock worth $92,093,000 after buying an additional 135,215 shares in the last quarter. Institutional investors and hedge funds own 91.04% of the company’s stock.

Shares of NYSE PNM traded down $0.16 during midday trading on Monday, reaching $42.74. The company’s stock had a trading volume of 242,591 shares, compared to its average volume of 362,333. The company has a quick ratio of 0.29, a current ratio of 0.37 and a debt-to-equity ratio of 1.17. The company has a market capitalization of $3.42 billion, a PE ratio of 22.03, a PEG ratio of 4.29 and a beta of 0.30. PNM Resources has a 12-month low of $34.30 and a 12-month high of $45.35.

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 15th. Shareholders of record on Friday, February 1st will be given a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a yield of 2.71%. This is a positive change from PNM Resources’s previous quarterly dividend of $0.27. The ex-dividend date is Thursday, January 31st. PNM Resources’s dividend payout ratio is presently 59.79%.

About PNM Resources

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.

Read More: The Role of a Fiduciary and Individual Investors

Get a free copy of the Zacks research report on PNM Resources (PNM)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for PNM Resources (NYSE:PNM)

Receive News & Ratings for PNM Resources Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PNM Resources and related companies with MarketBeat.com's FREE daily email newsletter.