PNM Resources Inc (PNM) reported quarterly earnings results on Friday, Apr-29-2016. The company reported $0.13 earnings per share for the quarter, missing the analyst consensus estimate by $-0.01. Analysts had a consensus of $0.14. The company posted revenue of $310.90 million in the period. The company’s revenue was down -6.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.21 EPS.
Many Wall Street Analysts have commented on PNM Resources Inc. PNM Resources Inc was Downgraded by Jefferies to ” Hold” on Mar 24, 2016. Company shares were Reiterated by Argus on Mar 21, 2016 to “Buy”, Firm has raised the Price Target to $ 38 from a previous price target of $35 .
PNM Resources Inc opened for trading at $30.98 and hit $31.52 on the upside on Wednesday, eventually ending the session at $31.39, with a gain of 1.55% or 0.48 points. The heightened volatility saw the trading volume jump to 4,97,425 shares. Company has a market cap of $2,500 M.
In a different news, on Mar 17, 2016, Ronald N. Darnell (SVP, PUBLIC POLICY) sold 113 shares at $33.05 per share price. According to the SEC, on Mar 14, 2016, Charles N Eldred (EXEC VP, CFO) sold 1,550 shares at $33.29 per share price. On Mar 8, 2016, Patrick V Apodaca (SR VP, GEN COUNSEL & SECY) sold 3,800 shares at $33.04 per share price, according to the Form-4 filing with the securities and exchange commission.
PNM Resources Inc. (PNMR) is an investor-owned holding company of energy and energy-related businesses. The Companys business segments include PNM TNMP and Corporate and Other. PNM is an electric utility that provides electric generation transmission and distribution service to its rate-regulated customers. TNMP is an electric utility providing regulated transmission and distribution services in Texas under the provisions of Texas Electric Choice Act (TECA) and the Texas Public Utility Regulatory Act. The Corporate and Other segment includes PNMR holding company activities primarily related to corporate level debt and PNMR Services Company. The Companys primary subsidiaries include Public Service Company of New Mexico (PNM) and Texas-New Mexico Power Company (TNMP).