PNM - PNM Resources: Medium Term Growth Potential But Less Financial Flexibility
2024-04-07 16:02:00 ET
Summary
- PNM Resources has medium term EPS growth potential given its expected growth in its regulated rate base.
- Given PNM Resources has fairly high leverage, the company doesn't have as much financial flexibility while maintaining investment grade credit rating if it needs to spend more.
- I rate PNM Resources a 'Buy' and I would own it in a diversified portfolio.
PNM Resources, Inc. ( PNM ) is an energy holding company whose two regulated utilities collectively provide electricity to over 800,000 homes and businesses in New Mexico and Texas .
PNM Resources has two regulated utility segments, PNM , a vertically integrated electric utility in New Mexico with distribution, transmission and generation assets, and TNMP, an electric transmission and distribution utility in Texas....
PNM Resources: Medium Term Growth Potential But Less Financial Flexibility