PNM Resources, Inc.’s (PNM - Free Report) will benefit from its long-term investment plans, focus on renewables as well as strategies to provide reliable and affordable clean power.
Let’s focus on the factors that make this Zacks Rank #2 (Buy) utility a promising pick for investors. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Growth Projections
The Zacks Consensus Estimate for 2019 earnings per share is pegged at $2.08 on $1.47-billion revenues. The bottom and the top line indicate an increase of 4% and 2.01%, respectively.
The consensus mark for 2020 earnings is pegged at $2.20 per share on revenues of $1.51 billion. The bottom line suggests a 5.93% increase and the top line calls for a 2.97% rise on a year-over-year basis.
The company’s long-term (three to five years) earnings growth is pegged at 5.50%.
Price Movement
In the past 12 months, PNM Resources’ shares have rallied 28.9% compared with the industry’s rise of 12.8%.
Long-Term Plans
The company continues to invest substantially in its utility assets to provide reliable services to its customers. It plans to invest $3.6 billion from 2019 to 2023. Moreover, PNM Resources expects rate-based compound annual growth of 9.3% during the 2018-2023 period.
PNM Resources has expertise in fulfilling environmental regulations. The company focuses on developing cost-effective power generation units to provide reliable and affordable power, while transitioning to a 100% emissions-free generating portfolio by 2040.
Earnings Surprise History & Dividend Yield
The company’s average four-quarter positive earnings surprise is 9.93%.
Currently, the company has a dividend yield of 2.29% compared with the Zacks S&P 500 composite’s 1.9%.
Other Stocks to Consider
Some other top-ranked stocks in the Utility sector are American Electric Power Company (AEP - Free Report) , NRG Energy (NRG - Free Report) and DTE Energy Company (DTE - Free Report) . NRG Energy sports Zacks Rank #1, while American Electric and DTE Energy carry a Zacks Rank of 2.
American Electric Power, NRG Energy and DTE Energy delivered average positive earnings surprise of 2.96%, 11.64% and 4.32%, respectively, in the last four quarters.
The long-term earnings growth rate for American Electric Power, NRG Energy and DTE Energy is pegged at 5.66%, 36.77% and 6%, respectively.
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Just released: Experts distill 7 elite stocks from the current list of 220 Zacks Rank #1 Strong Buys. They deem these tickers “Most Likely for Early Price Pops.”
Since 1988, the full list has beaten the market more than 2X over with an average gain of +24.50% per year. So be sure to give these hand-picked 7 your immediate attention.
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Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
PNM Resources, Inc.’s (PNM - Free Report) will benefit from its long-term investment plans, focus on renewables as well as strategies to provide reliable and affordable clean power.
Let’s focus on the factors that make this Zacks Rank #2 (Buy) utility a promising pick for investors. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Growth Projections
The Zacks Consensus Estimate for 2019 earnings per share is pegged at $2.08 on $1.47-billion revenues. The bottom and the top line indicate an increase of 4% and 2.01%, respectively.
The consensus mark for 2020 earnings is pegged at $2.20 per share on revenues of $1.51 billion. The bottom line suggests a 5.93% increase and the top line calls for a 2.97% rise on a year-over-year basis.
The company’s long-term (three to five years) earnings growth is pegged at 5.50%.
Price Movement
In the past 12 months, PNM Resources’ shares have rallied 28.9% compared with the industry’s rise of 12.8%.
Long-Term Plans
The company continues to invest substantially in its utility assets to provide reliable services to its customers. It plans to invest $3.6 billion from 2019 to 2023. Moreover, PNM Resources expects rate-based compound annual growth of 9.3% during the 2018-2023 period.
PNM Resources has expertise in fulfilling environmental regulations. The company focuses on developing cost-effective power generation units to provide reliable and affordable power, while transitioning to a 100% emissions-free generating portfolio by 2040.
Earnings Surprise History & Dividend Yield
The company’s average four-quarter positive earnings surprise is 9.93%.
Currently, the company has a dividend yield of 2.29% compared with the Zacks S&P 500 composite’s 1.9%.
Other Stocks to Consider
Some other top-ranked stocks in the Utility sector are American Electric Power Company (AEP - Free Report) , NRG Energy (NRG - Free Report) and DTE Energy Company (DTE - Free Report) . NRG Energy sports Zacks Rank #1, while American Electric and DTE Energy carry a Zacks Rank of 2.
American Electric Power, NRG Energy and DTE Energy delivered average positive earnings surprise of 2.96%, 11.64% and 4.32%, respectively, in the last four quarters.
The long-term earnings growth rate for American Electric Power, NRG Energy and DTE Energy is pegged at 5.66%, 36.77% and 6%, respectively.
7 Best Stocks for the Next 30 Days
Just released: Experts distill 7 elite stocks from the current list of 220 Zacks Rank #1 Strong Buys. They deem these tickers “Most Likely for Early Price Pops.”
Since 1988, the full list has beaten the market more than 2X over with an average gain of +24.50% per year. So be sure to give these hand-picked 7 your immediate attention.
See them now >>
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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