Dean Capital Management bought a new stake in PNM Resources Inc (NYSE:PNM) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 112,070 shares of the utilities provider’s stock, valued at approximately $4,533,000. PNM Resources makes up about 2.1% of Dean Capital Management’s investment portfolio, making the stock its 3rd largest position. Dean Capital Management owned about 0.14% of PNM Resources at the end of the most recent reporting period.
A number of other large investors have also recently added to or reduced their stakes in PNM. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in PNM Resources by 41.1% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,807 shares of the utilities provider’s stock valued at $194,000 after purchasing an additional 1,399 shares in the last quarter. Parametrica Management Ltd purchased a new position in PNM Resources in the 4th quarter valued at about $200,000. Zeke Capital Advisors LLC purchased a new position in PNM Resources in the 4th quarter valued at about $201,000. Sciencast Management LP purchased a new position in PNM Resources in the 4th quarter valued at about $209,000. Finally, Signition LP purchased a new position in PNM Resources in the 4th quarter valued at about $223,000. Institutional investors own 91.80% of the company’s stock.
PNM has been the topic of a number of recent research reports. Zacks Investment Research lowered shares of PNM Resources from a “buy” rating to a “hold” rating in a report on Tuesday, December 26th. Mizuho upgraded shares of PNM Resources from an “underperform” rating to a “neutral” rating and set a $37.00 target price on the stock in a report on Tuesday, January 23rd. SunTrust Banks set a $38.00 target price on shares of PNM Resources and gave the company a “hold” rating in a report on Wednesday, January 3rd. Finally, Wells Fargo & Co set a $38.00 target price on shares of PNM Resources and gave the company a “hold” rating in a report on Wednesday, February 28th. Four research analysts have rated the stock with a sell rating, eight have issued a hold rating, two have given a buy rating and one has given a strong buy rating to the company. PNM Resources presently has an average rating of “Hold” and an average price target of $38.66.
In related news, VP Joseph Don Tarry sold 2,954 shares of the stock in a transaction that occurred on Monday, March 5th. The shares were sold at an average price of $35.70, for a total transaction of $105,457.80. Following the completion of the sale, the vice president now owns 13,845 shares of the company’s stock, valued at approximately $494,266.50. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Charles N. Eldred sold 1,500 shares of the stock in a transaction that occurred on Friday, March 2nd. The stock was sold at an average price of $35.55, for a total transaction of $53,325.00. Following the sale, the chief financial officer now directly owns 115,888 shares of the company’s stock, valued at approximately $4,119,818.40. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 7,616 shares of company stock valued at $272,457. Corporate insiders own 1.26% of the company’s stock.
PNM Resources Inc (NYSE:PNM) opened at $36.55 on Thursday. PNM Resources Inc has a one year low of $33.75 and a one year high of $46.00. The company has a current ratio of 0.35, a quick ratio of 0.27 and a debt-to-equity ratio of 1.24. The company has a market cap of $2,883.46, a PE ratio of 36.55, a PEG ratio of 3.38 and a beta of 0.34.
PNM Resources (NYSE:PNM) last posted its quarterly earnings data on Tuesday, February 27th. The utilities provider reported $0.24 EPS for the quarter, beating the Zacks’ consensus estimate of $0.19 by $0.05. PNM Resources had a net margin of 5.55% and a return on equity of 8.71%. The company had revenue of $332.61 million during the quarter, compared to the consensus estimate of $330.25 million. During the same quarter in the prior year, the company posted $0.34 EPS. sell-side analysts forecast that PNM Resources Inc will post 1.86 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 16th. Stockholders of record on Wednesday, May 2nd will be paid a dividend of $0.265 per share. This represents a $1.06 dividend on an annualized basis and a dividend yield of 2.90%. The ex-dividend date of this dividend is Tuesday, May 1st. PNM Resources’s dividend payout ratio is currently 106.00%.
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About PNM Resources
PNM Resources, Inc (PNMR) is an investor-owned holding company with approximately two regulated utilities providing electricity and electric services in New Mexico and Texas. PNMR’s electric utilities are Public Service Company of New Mexico (PNM) and Texas-New Mexico Power Company (TNMP). It operates in three segments: PNM, TNMP, and Corporate and Other.
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