PNM Resources Stock (NYSE:PNM), Trade Ideas

PNM Resources

PNM Resources Inc, or PNMR, is a holding company that owns regulated utility companies providing electricity and electric services. PNMR segments its operations by its two subsidiaries, PNM and TNMP. PNM provides electric generation, transmission, and distribution services mainly to areas of New Mexico. While PNM uses a variety of fuel sources across its power plant portfolio, its coal and gas-fueled sites produce energy. TNMP owns and operates transmission and distribution services in small to medium-sized communities in Texas. Both subsidiaries generate revenue for PNMR through the sale of electricity and transmission service fees fairly evenly split between residential and commercial customers.

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Markets

General

PNM Resources sells its stake in NMRD to Exus North America Holdings for $234 million amidst regulatory hurdles and a significant charge, while shares fall.

Sunset On Solar Venture: PNM Resources And AEP Complete Sale Of New Mexico JV Assets

Long Ideas

Small Cap

Pre-Market Outlook

Trading Ideas

MSEX

The most oversold stocks in the utilities sector presents an opportunity to buy into undervalued companies.

Top 2 Utilities Stocks That Could Blast Off In January

Movers

IBDRY

IBDSF

Sustainable energy company Avangrid Inc (NYSE: AGR), a member of the Iberdrola S.A. (OTC: IBDRY) (OTC: IBDSF) Group, has terminated th

Why Energy Holding Company PNM Resources Shares Are Sliding Today

PNM Resources, Inc. (Holding Co.) Common Stock

PNM Resources Inc

PENTAMASTER INTL LTD 2000 by PENTAMASTER INTL LTD.

Pentamaster International Ltd

PUBLIC SER N M 4.58 PR by Public Service Company of New Mexico

Public Service Company of New Mexico

Barclays analyst Nicholas Campanella maintains PNM Resources (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PNM#NYSE">PNM</a>) with a Overweight and raises the price target from $40 to $43.

Price Target

Analyst Ratings

Barclays Maintains Overweight on PNM Resources, Raises Price Target to $43

Guidance

PNM Resources Management To Meet With Investors; To Affirm 2024 Ongoing EPS Guidance Of $2.65-$2.75, Est $2.68

PNM Resources, Inc.&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PNM#NYSE">PNM</a>) said it has completed the sale of its 50% ownership interest in its renewable joint venture, New Mexico Renewable Development (NMRD)&nbsp;<a target="_blank" href="https://www.benzinga.com/pressreleases/24/02/n37349391/pnm-resources-completes-sale-of-renewable-joint-venture" rel="noreferrer noopener">to Exus North America Holdings</a>.
PNM Resources and&nbsp;American Electric Power Company, Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AEP#NASDAQ">AEP</a>), which also owns 50% of NMRD, have agreed to sell the NMRD portfolio for $234 million after customary adjustments.&nbsp;
AEP nets approximately $104 million in cash after tax, transaction fees and&nbsp;<a target="_blank" href="https://www.benzinga.com//node/37347042" rel="noreferrer noopener">other customary adjustments.</a>
As previously disclosed, PNM Resources&#8217; $117 million share of the proceeds will support the funding of regulated capital investments.
The deal was&nbsp;<a target="_blank" href="https://www.benzinga.com//node/36382073" rel="noreferrer noopener">announced on December 26, 2023</a>. Since then, shares of PNM Resources have fallen about 9%. In the last one year, PNM Resources lost over 22% in share value.&nbsp;
While reporting 2023 results, PNM Resources revealed that it incurred a whopping charge of $242.0 million in regulatory disallowances and restructuring costs, which includes a settlement involving rate credits associated with the retirement of the San Juan Generating Station and disallowances in PNM&#8217;s recent&nbsp;<a target="_blank" href="https://www.benzinga.com/pressreleases/24/02/n36950835/pnm-resources-reports-2023-results-and-introduces-2024-earnings-guidance" rel="noreferrer noopener">rate case outcome related to legacy generation assets.&nbsp;</a>
The NMRD portfolio includes nine operating solar developments totaling 185 MW and six projects under development with an estimated output of 440 MW.&nbsp;
PNM Resources previously reported the earnings from its 50% ownership as part of the Corporate and Other segment.
Price Action: PNM shares closed higher by 2.65% to $38.02 on Tuesday. 
Photo via Shutterstock

Barclays analyst Nicholas Campanella initiates coverage on PNM Resources (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PNM#NYSE">PNM</a>) with a Overweight rating and announces Price Target of $40.

Initiation

Barclays Initiates Coverage On PNM Resources with Overweight Rating, Announces Price Target of $40

PNM Resources (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PNM#NYSE">PNM</a>) reported quarterly earnings of $0.18 per share which beat the analyst consensus estimate of $0.15 by 20 percent. This is a 20 percent increase over earnings of $0.15 per share from the same period last year. The company reported quarterly sales of $412.11 million which missed the analyst consensus estimate of $541.51 million by 23.90 percent. This is a 28.43 percent decrease over sales of $575.82 million the same period last year.

Earnings

Earnings Beats

Earnings Misses

PNM Resources Q4 Adj $0.18 Beats $0.15 Estimate, Sales $412.11M Miss $541.51M Estimate

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Earnings Scheduled For February 6, 2024

The most oversold stocks in the utilities sector presents an opportunity to buy into undervalued companies.
The RSI is a momentum indicator, which compares a stock&#39;s strength on days when prices go up to its strength on days when prices go down. When compared to a stock&#39;s price action, it can give traders a better sense of how a stock may perform in the short term. An asset is typically considered oversold when the <a href="https://www.benzinga.com/topic/rsi"> RSI is below 30</a>, according to <a href="https://pro.benzinga.com/"> Benzinga Pro</a>.
Here&rsquo;s the latest list of major oversold players in this sector, having an RSI near or below 30.
<h3>PNM Resources, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/pnm#NYSE">PNM</a>)</h3>
<ul>
<li>On Jan. 2, Avangrid, a member of the Iberdrola S.A. Group, terminated the merger agreement with PNM Resources, as all final regulatory approvals were not received by Dec. 31, 2023. &quot;We are greatly disappointed with Avangrid&#39;s decision to terminate the merger agreement and its proposed benefits to our customers, communities and shareholders,&quot; said Pat Vincent-Collawn, PNM Resources Chairman and CEO. The company&rsquo;s stock fell around 6% over the past five days and has a <a href="https://www.benzinga.com/quote/PNM">52-week low of $38.53 </a>.</li>
<li>RSI Value: 26.49</li>
<li>PNM Price Action: Shares of PNM Resources fell 0.8% to close at $39.09 on Thursday.</li>
</ul>
<h3>Middlesex Water Company (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/msex#NASDAQ">MSEX</a>)</h3>
<ul>
<li>On Nov. 9, Middlesex Water posted a decline in third-quarter sales. Middlesex Chairman, President and Chief Executive Officer Dennis W. Doll said, &ldquo;We continue to view the calendar year 2023 as a period of significant transition as we execute our succession plans, manage rate filing proceedings currently in progress and responsibly manage our resources.&rdquo; The company&rsquo;s stock fell around 8% over the past five days. It <a href="https://www.benzinga.com/quote/MSEX"> has a 52-week low </a> of $61.34.</li>
<li>RSI Value: 29.85</li>
<li>MSEX Price Action: Shares of Middlesex Water fell 1.6% to close at $61.96 on Thursday.</li>
</ul>

Read More: <a href="https://www.benzinga.com/trading-ideas/long-ideas/24/01/36484898/jim-cramer-this-energy-firm-has-good-growth-good-yield-but-as-for-ionq-ixnay"> Jim Cramer: This Energy Firm Has &#39;Good Growth, Good Yield&#39; But As For IonQ? Ixnay </a>

Mizuho analyst Anthony Crowdell downgrades PNM Resources (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PNM#NYSE">PNM</a>) from Buy to Neutral and announces $41 price target.

Downgrades

Mizuho Downgrades PNM Resources to Neutral, Announces $41 Price Target

Wells Fargo analyst Anthony Crowdell upgrades PNM Resources (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PNM#NYSE">PNM</a>) from Equal-Weight to Overweight and announces $44 price target.

Upgrades

Wells Fargo Upgrades PNM Resources to Overweight, Announces $44 Price Target

WIIM

PNM Resources shares are trading lower after the company announced the termination of its merger agreement with Avangrid.

Sustainable energy company&nbsp;Avangrid Inc&nbsp;(NYSE: <a class="ticker" href="https://www.benzinga.com/stock/agr#NYSE">AGR</a>), a member of the&nbsp;Iberdrola S.A.&nbsp;(OTC: <a class="ticker" href="https://www.benzinga.com/stock/ibdry#OTC">IBDRY</a>) (OTC: <a class="ticker" href="https://www.benzinga.com/stock/ibdsf#OTC">IBDSF</a>) Group, has terminated the merger agreement with&nbsp;PNM Resources, Inc&nbsp;(NYSE: <a class="ticker" href="https://www.benzinga.com/stock/pnm#NYSE">PNM</a>) as all final regulatory&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/pressreleases/24/01/b36446173/avangrid-statement-on-pnm-resources-inc-merger" style="background-image:initial; background-position:initial; background-size:initial; background-repeat:initial; background-attachment:initial; background-origin:initial; background-clip:initial; margin-top:0pt; margin-bottom:0pt; color:#4a6ee0" target="_blank">approvals were not received by December 31, 2023</a>.
Avangrid added that it has been fighting since 2020 to gain approval of its merger with PNM, a merger that would bring over $300 million in benefits to PNM consumers and communities.
The two parties had obtained all the necessary regulatory approvals for the closing of the merger by the end of 2022, except the approval of the New Mexico Public Regulation Commission.&nbsp;
Even at the end of 2023, there is no clear timing on the resolution of the court review of the New Mexico regulator&#39;s denial of the merger.
Avangrid will continue to focus on its growth opportunities, with over $9 billion in incremental capital projects secured during the pendency of the merger.
Developing new renewable energy projects, including powering Vineyard Wind, delivering over $5 billion in capital projects under its New York and Maine multi-year rate plans plus an incremental $2 billion in capital projects are in the pipeline for the company.
Avangrid reaffirmed its EPS and Adjusted EPS 2023 guidance of&nbsp;<a class="editor-rtfLink" href="https://s24.q4cdn.com/489945429/files/doc_financial/2023/q3/FINAL-Presentation-3Q-23.pdf" style="background-image:initial; background-position:initial; background-size:initial; background-repeat:initial; background-attachment:initial; background-origin:initial; background-clip:initial; margin-top:0pt; margin-bottom:0pt; color:#4a6ee0" target="_blank">$1.90 - $2.10 and $2.20 - $2.35</a>&nbsp;respectively.
On February 6, 2024, PNM Resources plans to provide a financial update, including preliminary 2023 results, 2024 guidance, and the continued&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/pressreleases/24/01/n36446178/pnm-resources-announces-avangrid-termination-of-merger-agreement-schedules-financial-update" style="background-image:initial; background-position:initial; background-size:initial; background-repeat:initial; background-attachment:initial; background-origin:initial; background-clip:initial; margin-top:0pt; margin-bottom:0pt; color:#4a6ee0" target="_blank">5% long-term earnings growth target.</a>
&quot;We are greatly disappointed with Avangrid&#39;s decision to terminate the merger agreement and its proposed benefits to our customers, communities and shareholders,&quot; said Pat Vincent-Collawn, PNM Resources Chairman and CEO.
Price Action: PNM shares traded lower by 3.87% at $39.99 premarket Tuesday.
Photo via Company

&quot;Since 2020, Avangrid, a national leader in clean energy, has fought to gain approval of its merger with PNM, a merger that would bring over&nbsp;$300 million&nbsp;in benefits to PNM consumers and communities and utilize the company&#39;s vast experience, and the experience of Iberdrola, S.A., a global leader at the forefront of the energy transition, to help the state achieve its clean energy goals. Avangrid and PNM had obtained all the necessary regulatory approvals for the closing of the merger by the end of 2022 except the approval of the New Mexico Public Regulation Commission. However, with the close of 2023 there is still no clear timing on the resolution of the court review of the New Mexico regulator&#39;s denial of the merger nor any subsequent regulatory actions. Avangrid has terminated the merger agreement because all final regulatory approvals were not received by December 31, 2023, the end date under the merger agreement after which either Avangrid or PNM could terminate the merger agreement if the merger had not yet been consummated. In connection with the termination of the merger agreement, the commitment letter, pursuant to which Iberdrola agreed to provide or arrange for funds to the extent necessary for Avangrid to consummate the merger, terminated automatically by its terms.
While our merger agreement with PNM has been terminated, we remain more than ever steadfast in our commitment to New Mexico in the development of wind and solar renewables, helping explore options in the new hydrogen economy, and delivering on the partnership with the Navajo Nation to achieve its clean energy future.
Also, with no major transaction consummated in 2023, we reaffirm our EPS and Adjusted EPS 2023&nbsp;guidance&nbsp;as presented without the impact of Renewables transactions that we had previously provided during our&nbsp;third quarter&nbsp;earnings presentation on October 26, 2023.

Avangrid Announces Termination Of The Merger Agreement With PNM Resources Due To Non-receipt Of All Final Regulatory Approvals By December 31, 2023

American Electric Power Co Inc&nbsp;(NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/aep#NASDAQ">AEP</a>), along with&nbsp;PNM Resources Inc&nbsp;(NYSE: <a class="ticker" href="https://www.benzinga.com/stock/pnm#NYSE">PNM</a>),&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/pressreleases/23/12/n36382073/pnm-resources-announces-sale-of-renewable-joint-venture" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">inked a deal</a>&nbsp;to divest around 50% stake each in New Mexico Renewable Development, LLC (NMRD) to Exus North America Holdings, LLC&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/pressreleases/23/12/n36382074/aep-signs-agreement-to-sell-new-mexico-solar-assets" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">for about $230 million</a>.
In particular, AEP and PNM Resources intend to sell the portfolio of 15 solar projects totaling 625 megawatts (MW).
AEP&#39;s share of the sale is around $115 million, and it expects to garner about $104 million in cash after tax, transaction fees, and other customary adjustments.&nbsp;
The sale is projected to close in February 2024 and will not have a material impact on financial results.&nbsp;&nbsp;
Julie Sloat, AEP chair, president, and CEO, said, &quot;This sale is another step forward on our path to simplify our business and focus on investing in our core regulated operations, and we continue to execute our strategy to de-risk the company. Earlier this year, we completed the $1.5 billion sale of other parts of our contracted renewables business.&quot;&nbsp;
Also Read:&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/markets/equities/23/08/33877076/invenergy-buys-american-electric-powers-renewables-portfolio-for-1-5b" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Invenergy Buys American Electric Power&#39;s Renewables Portfolio For $1.5B</a>
&quot;The proceeds from these sales are strengthening our balance sheet and supporting our continued efforts to create an energy system that benefits customers by providing safe, reliable and affordable electricity.&quot;
In June, AEP launched the sale process for NMRD portfolio, which includes nine operating solar developments totaling 185 MW and six projects under development with an estimated output of 440 MW.&nbsp;
The sale is subject to regulatory approval by the Federal Energy Regulatory Commission, New Mexico regulatory approvals and other approvals.&nbsp;
Also Read:&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/markets/equities/23/10/35029721/american-electric-power-appoints-charles-zebula-as-finance-chief-reaffirms-guidance" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">American Electric Power Appoints Charles Zebula As Finance Chief; Reaffirms Guidance</a>
Price Action: AEP shares are trading higher by 0.73% at $80.97 premarket on Tuesday.
Photo via Wikimedia Commons

Large Cap

Electric Company AEP and PNM Unload 50% Solar Stake for $230M in Strategic Shift

The recommended decision equates to a revenue increase of $6.1 million, based on a 9.26% return on equity and a 50% equity capitalization structure of $2,557 million of rate base. PNM&#39;s $63.8 million request included a 10.25% return on equity and 52% equity capitalization ratio of its $2,713 million rate base. The current authorized rates are based on a 9.575% return on equity with a 50% equity capitalization ratio.

Commodities

The Hearing Examiners Issue Recommended Decisions In The Public Service Company Of New Mexico, PNM Resources Subsidiary, Application For A 2024 Change In Customer Base Rates And Its Application For 12 Megawatts Of Distribution Battery Storage

The board has declared the resulting quarterly stock dividend of&nbsp;$0.3875&nbsp;per share, payable&nbsp;February 16, 2024, to shareholders of record at the close of business&nbsp;February 2, 2024.&nbsp;The increase is consistent with the company&#39;s targeted long-term ongoing earnings per share growth rate of&nbsp;5%.

Dividends

PNM Resources Increases Annual Dividend Payment By 5.4% To An Indicated Annual Rate Of $1.55 Per Share

PNM Resources (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PNM#NYSE">PNM</a>) management will meet with analysts and investors this week at the Edison Electric Institute Financial Conference.&nbsp;
During the meetings, management is expected to affirm the company's 2023 consolidated earnings guidance of $2.75 to $2.80 per diluted share. Presentation materials are available on the company's website at <a href="https://c212.net/c/link/?t=0&amp;l=en&amp;o=4023111-1&amp;h=1175548672&amp;u=http%3A%2F%2Fwww.pnmresources.com%2Finvestors%2Fevents.cfm&amp;a=http%3A%2F%2Fwww.pnmresources.com%2Finvestors%2Fevents.cfm">http://www.pnmresources.com/investors/events.cfm</a>.

Management

PNM Resources Management to Meet with Investors; During The Meetings, Management Is Expected To Affirm The Company's 2023 Consolidated Earnings Guidance Of $2.75-$2.80/Share Vs $2.72 Est

PNM Resources Raised FY23 Adj EPS Guidance From $2.65 - $2.75 To $2.75 - $2.80 Vs. $2.72 Est.

PNM Resources (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PNM#NYSE">PNM</a>) reported quarterly adjusted earnings of $1.54 per share which beat the analyst consensus estimate of $1.34 by 14.93 percent. This is a 5.48 percent increase over earnings of $1.46 per share from the same period last year.

PNM Resources Q3 Adj EPS $1.54 Beats $1.34 Estimate

<h3>Companies Reporting Before The Bell</h3>
&bull; Sanofi (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SNY#NASDAQ">SNY</a>) is projected to report quarterly earnings at $2.26 per share on revenue of $12.56 billion.
&bull; Equinor (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EQNR#NYSE">EQNR</a>) is estimated to report earnings for its third quarter.
&bull; Standard Motor Products (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SMP#NYSE">SMP</a>) is estimated to report quarterly earnings at $0.98 per share on revenue of $391.23 million.
&bull; Piper Sandler (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PIPR#NYSE">PIPR</a>) is expected to report quarterly earnings at $1.58 per share on revenue of $298.82 million.
&bull; Civista Bancshares (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CIVB#NASDAQ">CIVB</a>) is estimated to report quarterly earnings at $0.61 per share on revenue of $40.88 million.
&bull; Dana (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DAN#NYSE">DAN</a>) is likely to report quarterly earnings at $0.13 per share on revenue of $2.69 billion.
&bull; T. Rowe Price Gr (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TROW#NASDAQ">TROW</a>) is expected to report quarterly earnings at $1.78 per share on revenue of $1.62 billion.
&bull; AbbVie (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ABBV#NYSE">ABBV</a>) is estimated to report quarterly earnings at $2.70 per share on revenue of $12.92 billion.
&bull; First Hawaiian (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FHB#NASDAQ">FHB</a>) is projected to report quarterly earnings at $0.43 per share on revenue of $199.90 million.
&bull; Fomento Economico (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FMX#NYSE">FMX</a>) is estimated to report quarterly earnings at $1.40 per share on revenue of $11.67 billion.
&bull; Gentex (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GNTX#NASDAQ">GNTX</a>) is expected to report quarterly earnings at $0.44 per share on revenue of $566.22 million.
&bull; Imperial Oil (AMEX:<a class="ticker" href="https://www.benzinga.com/stock/IMO#AMEX">IMO</a>) is expected to report quarterly earnings at $1.91 per share on revenue of $13.29 billion.
&bull; WisdomTree (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WT#NYSE">WT</a>) is likely to report quarterly earnings at $0.10 per share on revenue of $88.63 million.
&bull; Saia (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SAIA#NASDAQ">SAIA</a>) is estimated to report quarterly earnings at $3.62 per share on revenue of $745.98 million.
&bull; AerCap Holdings (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AER#NYSE">AER</a>) is estimated to report quarterly earnings at $2.73 per share on revenue of $1.89 billion.
&bull; Arbor Realty Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ABR#NYSE">ABR</a>) is likely to report quarterly earnings at $0.45 per share on revenue of $99.96 million.
&bull; LyondellBasell Industries (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LYB#NYSE">LYB</a>) is estimated to report quarterly earnings at $2.02 per share on revenue of $10.10 billion.
&bull; Exxon Mobil (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XOM#NYSE">XOM</a>) is projected to report quarterly earnings at $2.24 per share on revenue of $83.76 billion.
&bull; Barnes Gr (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/B#NYSE">B</a>) is projected to report quarterly earnings at $0.48 per share on revenue of $356.50 million.
&bull; Chevron (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CVX#NYSE">CVX</a>) is likely to report quarterly earnings at $3.33 per share on revenue of $47.79 billion.
&bull; Fortis (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FTS#NYSE">FTS</a>) is likely to report quarterly earnings at $0.81 per share on revenue of $2.91 billion.
&bull; Carter&#39;s (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CRI#NYSE">CRI</a>) is likely to report quarterly earnings at $1.54 per share on revenue of $786.35 million.
&bull; Xcel Energy (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/XEL#NASDAQ">XEL</a>) is likely to report quarterly earnings at $1.27 per share on revenue of $4.00 billion.
&bull; Phillips 66 (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PSX#NYSE">PSX</a>) is projected to report quarterly earnings at $4.76 per share on revenue of $38.96 billion.
&bull; Charter Communications (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CHTR#NASDAQ">CHTR</a>) is expected to report quarterly earnings at $7.94 per share on revenue of $13.63 billion.
&bull; CBRE Group (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CBRE#NYSE">CBRE</a>) is likely to report quarterly earnings at $0.67 per share on revenue of $7.42 billion.
&bull; ArcBest (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ARCB#NASDAQ">ARCB</a>) is likely to report quarterly earnings at $1.50 per share on revenue of $1.13 billion.
&bull; Stanley Black &amp; Decker (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SWK#NYSE">SWK</a>) is likely to report quarterly earnings at $0.83 per share on revenue of $3.97 billion.
&bull; Portland Gen Electric (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/POR#NYSE">POR</a>) is expected to report quarterly earnings at $0.54 per share on revenue of $749.17 million.
&bull; NatWest Group (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NWG#NYSE">NWG</a>) is likely to report earnings for its third quarter.
&bull; Lincoln Electric Holdings (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LECO#NASDAQ">LECO</a>) is projected to report quarterly earnings at $2.25 per share on revenue of $1.04 billion.
&bull; Stellar Bancorp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/STEL#NYSE">STEL</a>) is estimated to report quarterly earnings at $0.57 per share on revenue of $109.35 million.
&bull; AutoNation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AN#NYSE">AN</a>) is projected to report quarterly earnings at $5.49 per share on revenue of $6.72 billion.
&bull; Colgate-Palmolive (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CL#NYSE">CL</a>) is expected to report quarterly earnings at $0.80 per share on revenue of $4.82 billion.
&bull; nVent Electric (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NVT#NYSE">NVT</a>) is likely to report quarterly earnings at $0.73 per share on revenue of $881.14 million.
&bull; Cumulus Media (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CMLS#NASDAQ">CMLS</a>) is estimated to report quarterly loss at $0.19 per share on revenue of $207.47 million.
&bull; Oil States International (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OIS#NYSE">OIS</a>) is estimated to report quarterly earnings at $0.04 per share on revenue of $189.85 million.
&bull; Gorman-Rupp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GRC#NYSE">GRC</a>) is expected to report quarterly earnings at $0.32 per share on revenue of $163.79 million.
&bull; Balchem (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BCPC#NASDAQ">BCPC</a>) is likely to report quarterly earnings at $0.97 per share on revenue of $237.08 million.
&bull; Alliance Res Partners (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ARLP#NASDAQ">ARLP</a>) is likely to report quarterly earnings at $1.28 per share on revenue of $667.56 million.
&bull; Virtus Inv (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VRTS#NASDAQ">VRTS</a>) is likely to report quarterly earnings at $6.21 per share on revenue of $200.57 million.
&bull; Civeo (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CVEO#NYSE">CVEO</a>) is estimated to report quarterly earnings at $0.21 per share on revenue of $166.74 million.
&bull; Newell Brands (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NWL#NASDAQ">NWL</a>) is expected to report quarterly earnings at $0.23 per share on revenue of $2.12 billion.
&bull; Eni (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/E#NYSE">E</a>) is likely to report earnings for its third quarter.
&bull; Booz Allen Hamilton (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BAH#NYSE">BAH</a>) is projected to report quarterly earnings at $1.33 per share on revenue of $2.61 billion.
&bull; Aon (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AON#NYSE">AON</a>) is estimated to report quarterly earnings at $2.21 per share on revenue of $2.89 billion.
&bull; PNM Resources (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PNM#NYSE">PNM</a>) is likely to report quarterly earnings at $1.34 per share on revenue of $651.91 million.
&bull; Chart Industries (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GTLS#NYSE">GTLS</a>) is estimated to report quarterly earnings at $1.61 per share on revenue of $1.04 billion.
&bull; Avantor (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AVTR#NYSE">AVTR</a>) is estimated to report quarterly earnings at $0.25 per share on revenue of $1.71 billion.
<h3>Companies Reporting After The Bell</h3>
&bull; Socket Mobile (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SCKT#NASDAQ">SCKT</a>) is projected to report quarterly loss at $0.07 per share on revenue of $5.22 million.
This article was generated by Benzinga&#39;s automated content engine and reviewed by an editor.

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Earnings Scheduled For October 27, 2023

PNM Resources (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PNM#NYSE">PNM</a>) is set to give its latest quarterly earnings report on Friday, 2023-10-27. Here's what investors need to know before the announcement.
Analysts estimate that PNM Resources will report an earnings per share (EPS) of $1.34. 
PNM Resources bulls will hope to hear the company announce they've not only beaten that estimate, but also to provide positive guidance, or forecasted growth, for the next quarter.
New investors should note that it is sometimes not an earnings beat or miss that most affects the price of a stock, but the guidance (or forecast).
<h3>Historical Earnings Performance</h3>
Last quarter the company beat EPS by $0.05, which was followed by a 0.0% drop in the share price the next day.
Here's a look at PNM Resources's past performance and the resulting price change:

<table>
<thead>
<tr>
<th>Quarter</th>
<th>Q2 2023</th>
<th>Q1 2023</th>
<th>Q4 2022</th>
<th>Q3 2022</th>
</tr>
</thead>
<tbody>
<tr>
<td>EPS Estimate</td>
<td>0.50</td>
<td>0.44</td>
<td>0.16</td>
<td>1.33</td>
</tr>
<tr>
<td>EPS Actual</td>
<td>0.55</td>
<td>0.55</td>
<td>0.15</td>
<td>1.46</td>
</tr>
<tr>
<td>Price Change %</td>
<td>-0.47%</td>
<td>1.19%</td>
<td>0.04%</td>
<td>0.47%</td>
</tr>
</tbody>
</table>

<img src="https://www.benzinga.com/files/images/story/2023/1698336081_0.png" alt="eps graph" />
<h3>Stock Performance</h3>
Shares of PNM Resources were trading at $44.3 as of October 25. Over the last 52-week period, shares are down 5.24%. Given that these returns are generally negative, long-term shareholders are likely bearish going into this earnings release. 
<a href="https://www.benzinga.com/quote/PNM/earnings">To track all earnings releases for PNM Resources visit their earnings calendar on our site.</a>
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Earnings Outlook For PNM Resources

PNM Resources Inc (PNM) stock is higher by 1.93% over the past week and gets a Bullish rating from InvestorsObserver Sentiment Indicator. PNM Resources Inc has a Bullish sentiment reading. Find out what this means for you and get the rest of the rankings on PNM!See Full PNM ReportWhat is Stock Sentiment?Sentiment uses shor

Where Will PNM Resources Inc (PNM) Stock Go Next After It Is Higher By 1.93% in a Week?

In a report released yesterday, Nicholas Campanella from Barclays maintained a Buy rating on Pnm Resources (PNM – Research Report), with a price ta...

Barclays Keeps Their Buy Rating on Pnm Resources (PNM)

These Utilities stocks are trading higher:-Aris Water Solutions Inc (ARIS) stock is trading at $12.01, an increase of $2.11, or 20.36%, on high volume.  Aris Water Solutions Inc Cl A gets a Sentiment Score of Bullish from InvestorsObserver and receives an average analyst recommendation of Strong Buy with a price target of

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PNM Resources declares $0.3875 dividend

The latest update is out from Pnm Resources Inc. (PNM). PNM Resources, Inc. has rolled out new compensation plans for its executive officers to inc...

PNM Resources Revamps Executive Compensation and Incentive Plans

Pnm Resources Inc. (PNM) just unveiled an update. Patrick Apodaca is set to retire as the Senior Vice President and General Counsel of PNM Resource...

PNM Resources Announces Senior VP & Counsel Retirement

PNM Resources: Medium Term Growth Potential But Less Financial Flexibility

In a report released on April 12, Nicholas Campanella from Barclays maintained a Buy rating on Pnm Resources (PNM – Research Report), with a price ...

Barclays Remains a Buy on Pnm Resources (PNM)

Dividend Champion, Contender, And Challenger Highlights: Week Of April 21

In a report released on April 19, Shelby Tucker from RBC Capital maintained a Hold rating on Pnm Resources (PNM – Research Report), with a price ta...

RBC Capital Keeps Their Hold Rating on Pnm Resources (PNM)

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Press Releases

PNM Resources Reports 2023 Results and Introduces 2024 Earnings Guidance

PNM Resources Management to Meet with Investors

PNM Resources Completes Sale of Renewable Joint Venture

PNM Resources Board Declares Quarterly Common Stock Dividend

PNM Resources Management to Meet with Investors 2024 ongoing earnings guidance to be affirmed during meetings

Public Service Company of New Mexico Declares Preferred Dividend

PNM Resources to Announce 2024 First Quarter Earnings on April 30

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