PNM Stock Summary and Trading Ideas (PNM Resources (Holding Co.) | NYSE:PNM)

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.

PNM Resources (Holding Co.) trades on the NYSE stock market under the symbol PNM.

As of April 16, 2024, PNM stock price declined to $35.82 with 206,860 million shares trading.

PNM has a beta of 0.08, meaning it tends to be less sensitive to market movements. PNM has a correlation of 0.00 to the broad based SPY ETF.

PNM has a market cap of $3.07 billion. This is considered a Mid Cap stock.

Last quarter PNM Resources (Holding Co.) reported $412 million in Revenue and $.18 earnings per share. This fell short of revenue expectation by $-129 million and exceeded earnings estimates by $.03.

In the last 3 years, PNM stock traded as high as $50.11 and as low as $34.63.

The top ETF exchange traded funds that PNM belongs to (by Net Assets): VTI, IJH, VB, IWM, VBR.

PNM has underperformed the market in the last year with a price return of -23.5% while the SPY ETF gained +24.0%. PNM has also underperformed the stock market ETF in the last 3 month and 2 week periods returning -2.6% and -4.1%, respectively, while the SPY returned +6.2% and -3.3%, respectively.

PNM support price is $35.73 and resistance is $36.59 (based on 1 day standard deviation move). This means that using the most recent 20 day stock volatility and applying a one standard deviation move around the stock's closing price, stastically there is a 67% probability that PNM stock will trade within this expected range on the day.