Welcome to our dedicated page for PNM Resources news (Ticker: PNM), a resource for investors and traders seeking the latest updates and insights on PNM Resources stock.
PNM Resources, Inc. (NYSE: PNM), based in Albuquerque, New Mexico, is a prominent energy holding company that serves over 800,000 homes and businesses in New Mexico and Texas through its subsidiaries, PNM and TNMP. With a balanced mix of coal, natural gas, nuclear, and wind generation, the company boasts a robust generation capacity of over 3.1 gigawatts.
Through its subsidiary PNM, PNM Resources provides electric generation, transmission, and distribution services primarily in New Mexico. PNM utilizes a diverse range of fuel sources, including coal and gas-fueled sites, to ensure reliable energy delivery. The Texas-New Mexico Power Company (TNMP), another subsidiary, operates transmission and distribution services in Texas, particularly focusing on small to medium-sized communities.
In recent developments, PNM Resources announced significant changes and projects aimed at enhancing their service and transitioning to cleaner energy sources. On December 8, 2023, the New Mexico Public Regulation Commission's Hearing Examiners issued recommendations for a 2024 change in customer base rates and the addition of 12 megawatts of distribution battery storage. These initiatives are designed to increase grid reliability and integrate more renewable energy into their network. In parallel, the company is exploring avenues for a more balanced and sustainable energy mix.
Further emphasizing their commitment to sustainability, PNM Resources recently sold its 50% share in the New Mexico Renewable Development, LLC (NMRD), a renewable joint venture, to Exus North America Holdings, LLC. This transaction, valued at approximately $234 million, will fund further regulated capital investments, reinforcing the company's dedication to clean energy and innovation. The NMRD portfolio includes numerous solar developments, underscoring PNM Resources' commitment to expanding renewable energy capacity.
Another notable update is the termination of PNM Resources' merger agreement with Avangrid. Despite the setback, the company remains focused on its strategic goals, including maintaining a 5% long-term earnings growth target. PNM Resources continues to invest in infrastructure to meet future energy needs, ensuring reliability and affordability for their customers while transitioning toward a 100% emissions-free energy goal by 2040.
With a strong financial performance, PNM Resources reported 2023 consolidated operating revenues of $1.9 billion. The company’s ongoing earnings guidance for 2024 ranges from $2.65 to $2.75 per diluted share, reflecting their steady growth and commitment to stakeholder value. Recent quarterly results have exceeded expectations, further demonstrating the company's resilience and strategic execution.
For more detailed financial information and updates, visit the PNM Resources official website at www.pnmresources.com.
PNM Resources has declared a quarterly dividend of $0.3075 per share on its common stock during its Board of Directors meeting on September 22, 2020. The dividend is scheduled for payment on November 13, 2020, to shareholders on record as of November 2, 2020. This dividend declaration reflects the company's stability and commitment to returning value to its investors.
In 2019, PNM Resources reported consolidated operating revenues of $1.5 billion and serves approximately 790,000 customers across New Mexico and Texas.
PNM has partnered with Sandia National Laboratories to advance projects focused on energy resiliency, clean energy, and national security. This collaboration supports PNM's commitment to achieving emissions-free energy and enhancing the reliability of New Mexico's power grid. The partnership will leverage combined expertise to explore energy storage technologies and develop efficient carbon-free generation systems. PNM's partnership builds on previous successes, including the first fully integrated solar-plus-storage facility in the U.S., furthering innovation in energy solutions.
PNM Resources, a New Mexico-based energy company, announced a quarterly dividend of $1.145 per share on its 4.58% cumulative preferred stock. This dividend is set to be paid on October 15, 2020, to shareholders recorded at the close of business on October 1, 2020. PNM Resources reported consolidated operating revenues of $1.5 billion in 2019 and currently serves approximately 790,000 customers in New Mexico and Texas. The company operates with an electricity generation capacity of about 2,811 megawatts.
On Sept. 9, 2020, PNM Resources (NYSE: PNM) management held a virtual meeting with analysts and investors, reaffirming their consolidated earnings guidance for 2020 at $2.16 to $2.26 per diluted share. The company reported 2019 operating revenues of $1.5 billion, providing electricity to approximately 790,000 homes and businesses across New Mexico and Texas. Investors can access presentation materials on the company's website.
PNM Resources (NYSE: PNM) will engage with investors today during the BofA Securities Best of SMID Cap Ideas for 2020 Conference. Management aims to reaffirm the consolidated earnings guidance for 2020, estimated between $2.16 and $2.26 per diluted share. In 2019, PNM reported consolidated operating revenues of $1.5 billion and serves approximately 790,000 customers in New Mexico and Texas through its regulated utilities, PNM and TNMP. Presentation materials are available on their website.
PNM Resources reported Q2 2020 earnings with a net income of $57.5 million, a stark improvement over a loss of $75.9 million in Q2 2019. Diluted EPS rose to $0.72 from a loss of $0.95. Ongoing net earnings also increased to $44.1 million and ongoing diluted EPS rose to $0.55. The company reaffirms its 2020 earnings guidance of $2.16 to $2.26 per diluted share. PNM is focused on clean energy initiatives, targeting emissions-free energy by 2040 and enhancing infrastructure through its Wired for the Future program.
The Board of Directors of PNM Resources has declared a quarterly dividend of $0.3075 per share on its common stock. This dividend will be paid on August 14, 2020, to shareholders who are on record by the close of business on August 7, 2020. PNM Resources, based in Albuquerque, N.M., reported $1.5 billion in consolidated operating revenues for 2019 and serves approximately 790,000 customers across New Mexico and Texas through its regulated utilities.
PNM Resources (NYSE: PNM) reaffirms its 2020 ongoing earnings guidance between $2.16 and $2.26, aiming for the midpoint during challenging conditions influenced by COVID-19. The second quarter faced reduced load, but this was offset by warmer weather in New Mexico and Texas. The company will announce its second quarter results on July 31, 2020, and management will focus on infrastructure investments and clean energy initiatives. PNM's 2019 revenues reached $1.5 billion, servicing over 790,000 customers.
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