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PNM Resources, Inc. (PNM)

NYSE - NYSE Delayed Price. Currency in USD
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47.68+1.01 (+2.16%)
At close: 04:00PM EDT
47.68 0.00 (0.00%)
After hours: 05:00PM EDT
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  • p
    progress
    Buying opportunity--?
  • M
    Mathieu
    the stock will be capped again as the deal isn't dead ... Just as I thought we could climb back to peers valuation.

    https://www.businesswire.com/news/home/20220103005471/en/AVANGRID-and-PNM-Resources-Merger-Agreement-Extended-Companies-File-Notice-of-Appeal-With-New-Mexico-Supreme-Court
  • p
    progress
    The vote to sell PNM to AGR for $50.30 should now be dead. If AGR still wants PNM they need to rebid and have a new vote, I think that $55 a share is a minimum amount after freezing PNM for a full year. PNM is a great company and probably worth up to $60 a share considering the value of like utilities.
  • j
    j
    I wonder why PNM, a successful utility being bought out by a bigger Avangrid for $50.30 in cash, not stock mind you, and distributing 33 cents/share before being sold is running quite below #50.30.
    Four out 5 regulatory bodies have approved the deal and the fifth one as far as I read doesn't seem to have any opposition.
    I would expect the stock right now be valued very close to the offered price. Any reason why not? Thanks.
  • M
    Mathieu
    Stock price reached 54$ just before the pandemic. Deal or no deal with Avangrid, revenues and profits are higher than before the pandemic and the stock is more than 15% lower. I do think that without the deal the stock would have been higher today. And if the deal does not go through it would probably go down further as holder for the deal will dump the stock. But after that it should be valued as its peers ... in the mid 50s
  • j
    j
    Is there an expected dividend coming before the merger with Avangrid is completed in the near future?
  • B
    Ben
    When will the merger be finalized?
  • p
    progress
    Will be an interesting day today. I see a short time drop. Time to buy on this dip. PNM can go to $55 easy here if deal falls thru. Will have to wait till December for final decision.
  • D
    D
    next chapter starts now
  • M
    Mathieu
    Which company could be the next buyer for PNM? NextEra?
  • F
    Frankenstone
    Finally, deal appears to be done...
    $50.30 cash
  • p
    progress
    Free money right now with divi on Oct-30.
  • p
    progress
    Another divi- hope they don't get the deal done until Jan- make my taxes a lot easier. Looking @ $1.10 a share (@ $49.50)- easy money.
  • p
    progress
    Looks like a stalemate between little green against big green here. But there is a big winner here and that is the fossil fuel industries. So it goes---
  • D
    Dominic
    bought on today’s dip
  • p
    progress
    OK PNM, where is our dividend???
  • p
    progress
    Any thoughts on this week? Down ~$0.50 on no news. People throwing away free money? Were investors maybe expecting a sweetener to the deal?
  • p
    progress
    Looks like all the ducks are in a line for a quick closing based upon arbitrage players. Approval probably by next week.
  • T
    T
    When the buy out Will be done?
  • p
    progress
    Spike up at close friday. Meetings were supposed to held this week to finalize the deal but no announcements. Does anyone know anything at this time? It is strange to be in a position that I am okay if the deal goes thru but if it does not, I see this stock running to the $55-$60 after a short sell off down to around $45. Any opinions--There are a lot of good things happening in New Mexico, big migration of work at homers coming in. BREAKING GOOD.