Macquarie Group Ltd. Sells 18,978 Shares of PNM Resources, Inc. (NYSE:PNM)

Posted by on Mar 10th, 2023

Macquarie Group Ltd. trimmed its position in shares of PNM Resources, Inc. (NYSE:PNM – Get Rating) by 33.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 38,392 shares of the utilities provider’s stock after selling 18,978 shares during the period. Macquarie Group Ltd.’s holdings in PNM Resources were worth $2,338,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in PNM. Nomura Asset Management Co. Ltd. boosted its holdings in PNM Resources by 34.9% during the third quarter. Nomura Asset Management Co. Ltd. now owns 850 shares of the utilities provider’s stock valued at $39,000 after purchasing an additional 220 shares in the last quarter. Quadrant Capital Group LLC boosted its holdings in PNM Resources by 44.5% during the third quarter. Quadrant Capital Group LLC now owns 782 shares of the utilities provider’s stock valued at $36,000 after purchasing an additional 241 shares in the last quarter. Oregon Public Employees Retirement Fund boosted its holdings in PNM Resources by 1.0% during the third quarter. Oregon Public Employees Retirement Fund now owns 25,028 shares of the utilities provider’s stock valued at $1,145,000 after purchasing an additional 252 shares in the last quarter. Signaturefd LLC boosted its holdings in PNM Resources by 60.1% during the third quarter. Signaturefd LLC now owns 783 shares of the utilities provider’s stock valued at $36,000 after purchasing an additional 294 shares in the last quarter. Finally, Captrust Financial Advisors boosted its holdings in PNM Resources by 14.8% during the first quarter. Captrust Financial Advisors now owns 2,626 shares of the utilities provider’s stock valued at $125,000 after purchasing an additional 339 shares in the last quarter. 89.88% of the stock is currently owned by institutional investors.

PNM Resources Stock Down 0.1 %

Shares of PNM opened at $49.09 on Friday. The company has a market capitalization of $4.21 billion, a P/E ratio of 24.92, a PEG ratio of 4.35 and a beta of 0.41. The company has a debt-to-equity ratio of 1.73, a current ratio of 0.46 and a quick ratio of 0.39. PNM Resources, Inc. has a one year low of $43.43 and a one year high of $49.60. The business’s 50 day simple moving average is $49.16 and its 200-day simple moving average is $48.08.

PNM Resources (NYSE:PNM – Get Rating) last announced its earnings results on Friday, February 24th. The utilities provider reported $0.15 EPS for the quarter, topping the consensus estimate of $0.14 by $0.01. PNM Resources had a return on equity of 10.46% and a net margin of 7.55%. The business had revenue of $575.82 million for the quarter, compared to the consensus estimate of $244.99 million. During the same period in the previous year, the business earned $0.21 EPS. As a group, sell-side analysts predict that PNM Resources, Inc. will post 2.66 EPS for the current fiscal year.

PNM Resources Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 12th. Shareholders of record on Friday, April 28th will be issued a dividend of $0.368 per share. This represents a $1.47 annualized dividend and a yield of 3.00%. The ex-dividend date of this dividend is Thursday, April 27th. PNM Resources’s dividend payout ratio is 74.62%.

Analyst Upgrades and Downgrades

PNM has been the topic of a number of recent research reports. Wells Fargo & Company lifted their price objective on PNM Resources to $48.00 in a report on Wednesday, December 14th. Mizuho downgraded PNM Resources from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $51.00 to $50.30 in a report on Monday, January 9th.

PNM Resources Profile

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PNM Resources, Inc operates as an investor-owned holding company, which provides electricity and electric services in New Mexico and Texas. It operates through the following segments: Public Service Company of New Mexico (PNM), Texas-New Mexico Power Company (TNMP), and Corporate and Other. The PNM segment includes the retail electric utility operations of the company.

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Institutional Ownership by Quarter for PNM Resources (NYSE:PNM)

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