Core Viewpoint - PNM Resources has successfully closed an offering of $500 million in 5.75% junior subordinated convertible notes due in 2054, with an option for initial purchasers to buy an additional $50 million for overallotments [1] Group 1: Offering Details - The convertible notes were sold in a private offering to qualified institutional buyers under Rule 144A of the Securities Act [1] - The notes are unsecured obligations and rank junior to existing and future senior indebtedness of PNM Resources [8] - Interest on the convertible notes will be paid semi-annually at a rate of 5.75% per annum, with the option for the company to defer interest payments for up to 20 consecutive semi-annual periods [2][8] Group 2: Conversion Rights - Holders can convert their notes only upon certain events before December 1, 2053, and at any time thereafter until two business days before maturity [3] - Upon conversion, PNM Resources will either issue a new series of non-convertible junior subordinated notes or pay cash, along with delivering shares of common stock for any excess conversion obligation [3][10] Group 3: Repurchase and Redemption Conditions - In the event of a fundamental change, holders may require PNM Resources to repurchase their notes at 100% of the principal amount plus accrued interest [4] - The company may not redeem the notes before June 6, 2029, except under specific tax or rating agency events, and can redeem them at 100% of the principal amount plus accrued interest under certain conditions [9] Group 4: Use of Proceeds - The net proceeds from the offering will be used to repay a portion of PNM Resources' outstanding term loans [11]

ALBUQUERQUE, N.M., June 4, 2024 /PRNewswire/ -- PNM Resources (NYSE: PNM) today announced the pricing of $500,000,000 in aggregate principal amount of its 5.75% junior subordinated convertible notes due 2054 (the "convertible notes") in a private offering to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the "Securities Act"). In addition, PNM Resources granted the initial purchasers of the convertible notes an option to purchase, within a 13-day period be ...

ALBUQUERQUE, N.M., June 4, 2024 /PRNewswire/ -- The Board of Directors of Public Service Company of New Mexico, a subsidiary of PNM Resources (NYSE: PNM), declared the regular quarterly dividend of $1.145 per share on the 4.58 percent series of cumulative preferred stock. The preferred stock dividend is payable July 15, 2024, to shareholders of record at the close of business June 28, 2024. Background: PNM Resources (NYSE: PNM) is an energy holding company based in Albuquerque, N.M., with 2023 consolidated ...

2024 ongoing earnings guidance to be affirmed during meetings ALBUQUERQUE, N.M., June 4, 2024 /PRNewswire/ -- PNM Resources (NYSE: PNM) management will meet with analysts and investors this week at the RBC Capital Markets Global Energy, Power and Infrastructure Conference in New York City. During the meetings, management is expected to affirm the company's 2024 consolidated earnings guidance of $2.65 to $2.75 per diluted share. Presentation materials are available on the company's website at http://www.pnmr ...

ALBUQUERQUE, N.M., June 3, 2024 /PRNewswire/ -- PNM Resources (NYSE: PNM) today announced that it intends to offer, subject to market and other conditions, $500,000,000 in aggregate principal amount of its junior subordinated convertible notes due 2054 (the "convertible notes") in a private offering to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the "Securities Act"). In addition, PNM Resources expects to grant the initial purchasers of the convertible ...

PNM Resources (PNM) announced that its wholly-owned subsidiary, Public Service Company of New Mexico ("PNM"), received approval for new energy resources from the New Mexico Public Regulation Commission ("NMPRC"). This is expected to be added by the summer of 2026. Along with PNM Resources, some other electric power industry companies like Xcel Energy Inc. (XEL) , NextEra Energy, Inc. (NEE) and Avangrid (AGR) are also adopting measures to meet clean-energy targets. The company's system demand reached new rec ...

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 800,000 homes and businesses in New Mexico and Texas. PNM serves its customers with a diverse mix of generation and purchased power resources totaling 3.3 gigawatts of installed capacity, with a goal to achieve 100% emissions-free energy by 2040. For more informa ...

It has been about a month since the last earnings report for PNM Resources (PNM) . Shares have lost about 2.1% in that time frame, underperforming the S&P 500. Will the recent negative trend continue leading up to its next earnings release, or is PNM Resources due for a breakout? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at the most recent earnings report in order to get a better handle on the important catalysts. PNM Resources Q1 Earnings & Revenues Mis ...

Value investors also try to analyze a wide range of traditional figures and metrics to help determine whether a company is undervalued at its current share price levels. The Style Score Value grade factors in a variety of key fundamental metrics, including the popular P/E ratio, P/S ratio, earnings yield, cash flow per share, and a number of other key stats that are commonly used by value investors. PNM currently has a forward P/E ratio of 14.23, while PEG has a forward P/E of 20.35. We also note that PNM h ...

Core Viewpoint - PNM Resources (PNM) is positioned as a solid investment option in the utility sector due to its acquisitions, infrastructure investments, and cost-effective power generation units [1] Growth Projections & Surprise History - The Zacks Consensus Estimate for PNM's 2024 earnings per share (EPS) has increased by 1.5% to $2.71 over the past 60 days - The 2024 revenue estimate stands at $2.35 billion, reflecting a year-over-year increase of 21.3% - PNM's long-term earnings growth rate is projected at 4.6%, with an average earnings surprise of 2.2% over the last four quarters [2] Return on Equity - PNM Resources has a return on equity (ROE) of 9.91%, surpassing the sector average of 9.68%, indicating more effective fund utilization compared to peers [3] Solvency & Liquidity - The times interest earned (TIE) ratio is 1.3, indicating the company can comfortably meet its interest obligations - As of April 26, 2024, PNM Resources had $644.9 million in liquidity, sufficient for short-term obligations [4] Dividend History - PNM has consistently increased dividends since 1996, with a current quarterly dividend of 38.75 cents per share, leading to an annual dividend of $1.55, up 5.4% from $1.47 - The current dividend yield is 4.03%, significantly higher than the S&P 500 Composite's average of 1.27% [5] Strategic Investment - PNM plans to invest $6.1 billion from 2024 to 2028 to enhance its transmission and distribution infrastructure, supporting an average rate base compound annual growth rate (CAGR) of 10% during this period [6] Price Performance - Over the past three months, PNM Resources shares have increased by 2.7%, outperforming the industry's growth of 2.3% [7]