Rhumbline Advisers boosted its position in shares of PNM Resources, Inc. (NYSE:PNM – Free Report) by 2.0% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 321,099 shares of the utilities provider’s stock after buying an additional 6,267 shares during the period. Rhumbline Advisers owned 0.37% of PNM Resources worth $15,631,000 as of its most recent SEC filing.
Several other institutional investors also recently added to or reduced their stakes in the company. Vise Technologies Inc. increased its position in PNM Resources by 5.3% during the fourth quarter. Vise Technologies Inc. now owns 4,796 shares of the utilities provider’s stock worth $234,000 after buying an additional 243 shares during the period. AE Wealth Management LLC increased its position in PNM Resources by 2.0% during the first quarter. AE Wealth Management LLC now owns 13,651 shares of the utilities provider’s stock worth $665,000 after buying an additional 274 shares during the period. Quadrant Capital Group LLC increased its position in PNM Resources by 40.0% during the fourth quarter. Quadrant Capital Group LLC now owns 1,095 shares of the utilities provider’s stock worth $53,000 after buying an additional 313 shares during the period. Benjamin F. Edwards & Company Inc. increased its position in PNM Resources by 13.2% during the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 2,769 shares of the utilities provider’s stock worth $135,000 after buying an additional 322 shares during the period. Finally, Captrust Financial Advisors increased its position in PNM Resources by 14.8% during the first quarter. Captrust Financial Advisors now owns 2,626 shares of the utilities provider’s stock worth $125,000 after buying an additional 339 shares during the period. Institutional investors and hedge funds own 91.18% of the company’s stock.
Analyst Upgrades and Downgrades
A number of research firms have recently issued reports on PNM. Siebert Williams Shank raised PNM Resources from a “hold” rating to a “buy” rating and boosted their target price for the company from $53.00 to $55.00 in a report on Tuesday, May 16th. StockNews.com began coverage on PNM Resources in a report on Thursday, August 17th. They issued a “hold” rating on the stock.
PNM Resources Trading Down 0.0 %
NYSE:PNM opened at $44.31 on Friday. The stock’s 50 day simple moving average is $44.85 and its 200-day simple moving average is $46.83. PNM Resources, Inc. has a 12-month low of $43.69 and a 12-month high of $49.60. The firm has a market cap of $3.80 billion, a P/E ratio of 16.00, a PEG ratio of 3.61 and a beta of 0.41. The company has a current ratio of 0.37, a quick ratio of 0.29 and a debt-to-equity ratio of 1.70.
PNM Resources (NYSE:PNM – Get Free Report) last released its quarterly earnings data on Friday, August 4th. The utilities provider reported $0.55 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.56 by ($0.01). The business had revenue of $477.20 million during the quarter, compared to analysts’ expectations of $446.75 million. PNM Resources had a return on equity of 10.31% and a net margin of 10.26%. The company’s revenue was down 4.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.57 EPS. Equities analysts anticipate that PNM Resources, Inc. will post 2.72 EPS for the current year.
PNM Resources Cuts Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 25th. Shareholders of record on Friday, August 11th were given a $0.3675 dividend. This represents a $1.47 annualized dividend and a yield of 3.32%. The ex-dividend date was Thursday, August 10th. PNM Resources’s payout ratio is 53.07%.
PNM Resources Company Profile
PNM Resources, Inc, through its subsidiaries, provides electricity and electric services in the United States. It operates through Public Service Company of New Mexico (PNM) and Texas-New Mexico Power Company (TNMP) segments. The PNM segment engages in the generation, transmission, and distribution of electricity.
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