PNM Resources upgraded by Wells Fargo with a new price target
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Wells Fargo upgraded PNM Resources from Equal Weight to Overweight and set a new price target of $44.00 from $41.00 previously
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| Date | Price Target | Rating | Analyst |
|---|---|---|---|
| 5/30/2024 | $38.00 | In-line | Evercore ISI |
| 2/8/2024 | $40.00 | Overweight | Barclays |
| 1/3/2024 | $41.00 → $44.00 | Equal Weight → Overweight | Wells Fargo |
| 1/3/2024 | $41.00 | Buy → Neutral | Mizuho |
| 9/26/2023 | $50.30 | Neutral → Buy | Mizuho |
| 5/16/2023 | $53.00 → $55.00 | Hold → Buy | Siebert Williams Shank |
| 1/9/2023 | $51.00 → $50.30 | Buy → Neutral | Mizuho |
| 10/20/2022 | $53.00 → $45.00 | Overweight → Equal Weight | Wells Fargo |
Evercore ISI resumed coverage of PNM Resources with a rating of In-line and set a new price target of $38.00
Barclays initiated coverage of PNM Resources with a rating of Overweight and set a new price target of $40.00
Wells Fargo upgraded PNM Resources from Equal Weight to Overweight and set a new price target of $44.00 from $41.00 previously
ALBUQUERQUE, N.M., Oct. 4, 2024 /PRNewswire/ -- TXNM Energy, Inc. will announce third quarter 2024 financial results prior to the market opening on Friday, November 1, 2024. Management will also host a live conference call at 11 a.m. Eastern Time to discuss financial results and other company updates. The press release and accompanying presentation materials for the conference call will be posted on the company website at www.TXNMEnergy.com. Investors and analysts can participate in the live conference call by pre-registering using the following link: https://dpregister.com/sr
2024 Ongoing Earnings Guidance Affirmed 2024 second quarter GAAP earnings of $0.53 per diluted share2024 second quarter ongoing earnings of $0.60 per diluted shareAffirmed ongoing earnings guidance range of $2.65 - $2.75Name change to TXNM Energy, trading under TXNM ticker expected August 5, 2024ALBUQUERQUE, N.M., July 31, 2024 /PRNewswire/ -- PNM Resources (In millions, except EPS) Q2 2024 Q2 2023 YTD 2024 YTD 2023 GAAP net earnings attributable to PNM Resources $48.0 $45.3 $95.2 $100.3 GAAP diluted EPS $0.53 $0.53
ALBUQUERQUE, N.M., July 16, 2024 /PRNewswire/ -- At its regular meeting held today, the Board of Directors of PNM Resources (NYSE:PNM) declared the regular quarterly dividend of $0.3875 per share on the company's common stock. The dividend is payable August 9, 2024, to shareholders of record at the close of business July 26, 2024. Background:PNM Resources (NYSE:PNM) is an energy holding company based in Albuquerque, N.M., with 2023 consolidated operating revenues of $1.9 billion. Through its regulated utilities, PNM and TNMP, PNM Resources provides electricity to more than 800
Barclays analyst Nicholas Campanella maintains PNM Resources (NYSE:PNM) with a Overweight and raises the price target from $43 to $45.
TNMP filed the Distribution Cost Recovery Factor (DCRF) application in April 2024 and received approval for the requested $15.7 million increase (on an annual basis) with rates effective July 28, 2024. Legislation passed during the 2023 Texas legislative session permits the historically annual filings on a semi-annual basis, further reducing regulatory lag associated with distribution capital investments. Recovery of investments under these filings, combined with recovery of transmission investments under semi-annual Transmission Cost of Service Filings, continues to support the robust investment plan to support reliable growth across the TNMP service territory.
The convertible notes will be unsecured obligations of PNM Resources and will rank junior and subordinate in right of payment to the prior payment in full of PNM Resources' existing and future senior indebtedness. Interest on the convertible notes will be paid semiannually, at a rate of 5.75% per annum, subject to PNM Resources' right to defer payments of interest as described below. The convertible notes will mature on June 1, 2054, unless earlier converted, redeemed or repurchased in accordance with their terms.
8-K - TXNM ENERGY INC (0001108426) (Filer)
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8-K/A - TXNM ENERGY INC (0001108426) (Filer)
ALBUQUERQUE, N.M., Nov. 11, 2024 /PRNewswire/ -- In a continued effort to enhance reliability and economic benefits to customers, Public Service Company of New Mexico (PNM), a wholly-owned subsidiary of TXNM Energy (NYSE:TXNM), has announced its plan to join the California Independent System Operator (CAISO) Extended Day-Ahead Market (EDAM). EDAM is a voluntary day-ahead regional market, expanding on CAISO's real-time regional market known as the Western Energy Imbalance Market (WEIM), which PNM has been a participant of since 2021. "Participating in EDAM is the next step in r
Cheniere Energy, Inc. ("Cheniere") (NYSE:LNG) announced today that its Board of Directors ("Board") has appointed Patricia K. Collawn and Lorraine Mitchelmore to serve as members of the Board, effective July 1, 2021. Ms. Collawn and Ms. Mitchelmore are considered independent directors. Ms. Collawn has been appointed to the Audit and Compensation Committees and Ms. Mitchelmore has been appointed to the Audit and Governance and Nominating Committees. Ms. Collawn is the Chairman, President and Chief Executive Officer of PNM Resources, Inc. ("PNM Resources") (NYSE:PNM), an energy holding company based in New Mexico. Ms. Collawn joined PNM Resources in 2007 from Public Service Company of Colora
ALBUQUERQUE, N.M., Nov. 25, 2024 /PRNewswire/ -- PNM, a wholly-owned subsidiary of TXNM Energy (NYSE:TXNM), filed an application with the New Mexico Public Regulation Commission (NMPRC) for new energy resources to be added by summer 2028. The proposed resource portfolio extends existing resources and adds 430 megawatts (MWs) of new solar and battery storage to meet PNM's forecasted peak load requirements in 2028 to serve its customers and to continue progress towards the zero-carbon requirements of New Mexico's Energy Transition Act. The filing requests approval for: extension
ALBUQUERQUE, N.M., Nov. 11, 2024 /PRNewswire/ -- In a continued effort to enhance reliability and economic benefits to customers, Public Service Company of New Mexico (PNM), a wholly-owned subsidiary of TXNM Energy (NYSE:TXNM), has announced its plan to join the California Independent System Operator (CAISO) Extended Day-Ahead Market (EDAM). EDAM is a voluntary day-ahead regional market, expanding on CAISO's real-time regional market known as the Western Energy Imbalance Market (WEIM), which PNM has been a participant of since 2021. "Participating in EDAM is the next step in r
2024 ongoing earnings guidance to be affirmed during meetings ALBUQUERQUE, N.M., Nov. 11, 2024 /PRNewswire/ -- TXNM Energy, Inc. (NYSE:TXNM) management will meet with analysts and investors this week at the Edison Electric Institute Financial Conference. During the meetings, management is expected to affirm the company's 2024 consolidated earnings guidance of $2.70 to $2.75 per diluted share. Presentation materials are available on the company's website at http://www.pnmresources.com/investors/events.cfm Background:TXNM Energy (NYSE:TXNM), an energy holding company based in
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SC 13G/A - PNM RESOURCES INC (0001108426) (Subject)
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SC 13D/A - PNM RESOURCES INC (0001108426) (Subject)