PNM Resources’ (PNM - Free Report) long-term investment plans, phased exit from coal-based generation assets, initiatives to provide reliable and affordable clean power will drive performance.
We recently issued an updated research report on this Zacks Rank #3 (Hold) company. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
The company has trailing four-quarter positive earnings surprise of 10.79%, on average. Additionally, the company’s long-term earnings growth is pegged at 5.90%.
What’s Driving the Stock?
PNM Resources continues to invest substantially in its utility assets to provide reliable services to customers. It plans to invest $3.8 billion from 2020 through 2024. From 2017 to 2019, PNM and TNMP collectively invested $1.5 billion in a utility plant that includes substations, power plants, nuclear fuel as well as transmission and distribution systems.
In New Mexico, the company received approvals from both FERC and the New Mexico Public Regulation Commission to acquire the Western Spirit Transmission Line in 2021. The transmission line will bring 800 megawatt (MW) new wind power to the existing grid in the US desert southwest state.
Along with power generation of its own, the company purchases power under long-term power purchase agreements (PPAs). To serve New Mexico retail customers, including a data center located in service territory, PNM has agreements to purchase renewable energy and Renewable Energy Certificates. As of Dec 31, 2019, under these agreements 356 MW, 80 MW, and 15 MW renewable energies are produced from wind, solar-PV and geothermal facilities, respectively, with expiration dates beginning in December 2034 through December 2046.
PNM Resources has a long-standing expertise in fulfilling environmental regulations. The company is focused on developing cost effective power generation units to provide reliable and affordable power. It plans to exit all coal-fired generation by 2031 and to have an emissions-free generating portfolio by 2040.
However, risk of operating in nuclear plants and stringent environmental policies and regulations related to climate change remain headwinds.
Price Performance
In the past 12 months, PNM Resources’ shares have lost 20.5% compared with the industry's decline of 6.5%.
Stocks to Consider
Some better-ranked stocks from the same industry are Pacific Gas & Electric Co. (PCG - Free Report) , NorthWestern Corp. (NWE - Free Report) and Duke Energy Corp. (DUK - Free Report) . NorthWestern sports a Zacks Rank #1, while Pacific Gas & Electric and Duke Energy hold a Zacks Rank #2 (Buy).
Long-term earnings growth of Pacific Gas & Electric, NorthWestern and Duke Energy is pegged at 2.50%, 3.10% and 4.70%, respectively.
Pacific Gas & Electric, NorthWestern and Duke Energy have trailing four-quarter positive earnings surprise of 7.35%, 7.62% and 6.53%, on average, respectively.
The Hottest Tech Mega-Trend of All
Last year, it generated $24 billion in global revenues. By 2020, it's predicted to blast through the roof to $77.6 billion. Famed investor Mark Cuban says it will produce "the world's first trillionaires," but that should still leave plenty of money for regular investors who make the right trades early.
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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’ (PNM - Free Report) long-term investment plans, phased exit from coal-based generation assets, initiatives to provide reliable and affordable clean power will drive performance.
We recently issued an updated research report on this Zacks Rank #3 (Hold) company. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
The company has trailing four-quarter positive earnings surprise of 10.79%, on average. Additionally, the company’s long-term earnings growth is pegged at 5.90%.
What’s Driving the Stock?
PNM Resources continues to invest substantially in its utility assets to provide reliable services to customers. It plans to invest $3.8 billion from 2020 through 2024. From 2017 to 2019, PNM and TNMP collectively invested $1.5 billion in a utility plant that includes substations, power plants, nuclear fuel as well as transmission and distribution systems.
In New Mexico, the company received approvals from both FERC and the New Mexico Public Regulation Commission to acquire the Western Spirit Transmission Line in 2021. The transmission line will bring 800 megawatt (MW) new wind power to the existing grid in the US desert southwest state.
Along with power generation of its own, the company purchases power under long-term power purchase agreements (PPAs). To serve New Mexico retail customers, including a data center located in service territory, PNM has agreements to purchase renewable energy and Renewable Energy Certificates. As of Dec 31, 2019, under these agreements 356 MW, 80 MW, and 15 MW renewable energies are produced from wind, solar-PV and geothermal facilities, respectively, with expiration dates beginning in December 2034 through December 2046.
PNM Resources has a long-standing expertise in fulfilling environmental regulations. The company is focused on developing cost effective power generation units to provide reliable and affordable power. It plans to exit all coal-fired generation by 2031 and to have an emissions-free generating portfolio by 2040.
However, risk of operating in nuclear plants and stringent environmental policies and regulations related to climate change remain headwinds.
Price Performance
In the past 12 months, PNM Resources’ shares have lost 20.5% compared with the industry's decline of 6.5%.
Stocks to Consider
Some better-ranked stocks from the same industry are Pacific Gas & Electric Co. (PCG - Free Report) , NorthWestern Corp. (NWE - Free Report) and Duke Energy Corp. (DUK - Free Report) . NorthWestern sports a Zacks Rank #1, while Pacific Gas & Electric and Duke Energy hold a Zacks Rank #2 (Buy).
Long-term earnings growth of Pacific Gas & Electric, NorthWestern and Duke Energy is pegged at 2.50%, 3.10% and 4.70%, respectively.
Pacific Gas & Electric, NorthWestern and Duke Energy have trailing four-quarter positive earnings surprise of 7.35%, 7.62% and 6.53%, on average, respectively.
The Hottest Tech Mega-Trend of All
Last year, it generated $24 billion in global revenues. By 2020, it's predicted to blast through the roof to $77.6 billion. Famed investor Mark Cuban says it will produce "the world's first trillionaires," but that should still leave plenty of money for regular investors who make the right trades early.
See Zacks' 3 Best Stocks to Play This Trend >>
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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