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MarketScreener Homepage  >  Equities  >  Nyse  >  PNM Resources, Inc.    PNM

PNM RESOURCES, INC.

(PNM)
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Iberdrola's Avangrid to Buy PNM Resources for $4.32 Billion

10/21/2020 | 02:05am EST

By Joshua Kirby

Iberdrola SA said Wednesday that its majority-owned subsidiary Avangrid Inc. has agreed to buy a 100% stake in New Mexico-based electricity company PNM Resources Inc. for around $4.32 billion.

Spanish energy company Iberdrola said it would fund the purchase of PNM Resources by energy-services subsidiary Avangrid, in which it holds an 81.5% stake.

Avangrid will pay $50.30 a share for PNM Resources, equivalent to around $4.32 billion.

PNM Resources' board of directors has unanimously approved the merger deal, Iberdrola said. The deal is dependent on approval by the U.S. company's shareholders, as well as other regulatory and other conditions. Avangrid expects the deal to be completed within 12 months.

Write to Joshua Kirby at joshua.kirby@dowjones.com

(END) Dow Jones Newswires

10-21-20 0204ET

Stocks mentioned in the article
ChangeLast1st jan.
AVANGRID, INC. -0.32% 46.62 Delayed Quote.-8.87%
IBERDROLA, S.A. -0.53% 11.2 Delayed Quote.22.00%
PNM RESOURCES, INC. 0.14% 49.24 Delayed Quote.-2.90%
All news about PNM RESOURCES, INC.
12/04PNM RESOURCES INC : Change in Directors or Principal Officers (form 8-K)
AQ
12/04PNM RESOURCES : Increases Common Dividend, Schedules 2021 Ongoing Earnings Guida..
PR
12/04PNM RESOURCES : Recognized as One of America's Most Responsible Companies
PR
12/04INVESTIGATION ALERT : Halper Sadeh LLP Reminds Shareholders About Its Ongoing Me..
PR
11/25PNM RESOURCES INC : Entry into a Material Definitive Agreement, Creation of a Di..
AQ
11/17WEISSLAW LLP : Reminds BSTC, DNKN, NAV, and PNM, Shareholders About Its Ongoing ..
PR
11/12INVESTIGATION ALERT : Halper Sadeh LLP Reminds Shareholders About Its Ongoing Me..
PR
11/11PNM RESOURCES : Lifshitz Law Firm, P.C. Announces Investigation of BioSpecifics ..
PR
11/11(PNM) : Johnson Fistel Investigates Proposed Sale of PNM Resources; Are Sharehol..
PR
11/10WEISSLAW LLP : Reminds BSTC, PNM, and DNKN Shareholders About Its Ongoing Invest..
PR
More news
Financials (USD)
Sales 2020 1 486 M - -
Net income 2020 183 M - -
Net Debt 2020 3 024 M - -
P/E ratio 2020 21,9x
Yield 2020 2,53%
Capitalization 3 922 M 3 922 M -
EV / Sales 2020 4,67x
EV / Sales 2021 4,56x
Nbr of Employees 1 668
Free-Float 98,6%
Chart PNM RESOURCES, INC.
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Technical analysis trends PNM RESOURCES, INC.
Short TermMid-TermLong Term
TrendsBearishBullishNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 9
Average target price 50,84 $
Last Close Price 49,24 $
Spread / Highest target 11,7%
Spread / Average Target 3,26%
Spread / Lowest Target -0,49%
EPS Revisions
Managers
NameTitle
Patricia K. Vincent-Collawn Chairman, President & Chief Executive Officer
Joseph D. Tarry Chief Financial Officer & Senior Vice President
Elisabeth A Eden Chief Information Officer & Vice President
Donald K. Schwanz Independent Director
Bruce W. Wilkinson Lead independent Director
Sector and Competitors
1st jan.Capitalization (M$)
PNM RESOURCES, INC.-2.90%3 917
NEXTERA ENERGY19.79%143 698
ENEL S.P.A.16.08%101 375
IBERDROLA, S.A.22.00%83 826
ORSTED A/S52.98%72 274
DUKE ENERGY CORPORATION1.25%67 966