Teachers Advisors LLC raised its position in shares of PNM Resources Inc (NYSE:PNM) by 2.2% during the 4th quarter, HoldingsChannel reports. The firm owned 143,173 shares of the utilities provider’s stock after purchasing an additional 3,094 shares during the period. Teachers Advisors LLC’s holdings in PNM Resources were worth $5,791,000 at the end of the most recent reporting period.
Other large investors have also recently modified their holdings of the company. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of PNM Resources by 41.1% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,807 shares of the utilities provider’s stock worth $194,000 after buying an additional 1,399 shares in the last quarter. Parametrica Management Ltd purchased a new position in shares of PNM Resources in the fourth quarter worth $200,000. Signition LP purchased a new position in shares of PNM Resources in the fourth quarter worth $223,000. Acadian Asset Management LLC purchased a new position in shares of PNM Resources in the fourth quarter worth $229,000. Finally, First Washington CORP purchased a new position in shares of PNM Resources in the fourth quarter worth $231,000. 91.79% of the stock is currently owned by institutional investors and hedge funds.
PNM Resources stock opened at $37.95 on Monday. The firm has a market cap of $3,022.87, a P/E ratio of 19.56, a price-to-earnings-growth ratio of 3.79 and a beta of 0.26. The company has a current ratio of 0.35, a quick ratio of 0.27 and a debt-to-equity ratio of 1.24. PNM Resources Inc has a 52-week low of $33.75 and a 52-week high of $46.00.
PNM Resources (NYSE:PNM) last released its quarterly earnings results on Tuesday, February 27th. The utilities provider reported $0.24 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.19 by $0.05. The company had revenue of $332.61 million for the quarter, compared to the consensus estimate of $330.25 million. PNM Resources had a net margin of 5.55% and a return on equity of 8.71%. During the same quarter in the prior year, the firm earned $0.34 earnings per share. equities research analysts predict that PNM Resources Inc will post 1.87 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 16th. Investors 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 yield of 2.79%. The ex-dividend date of this dividend is Tuesday, May 1st. PNM Resources’s payout ratio is 54.64%.
In other PNM Resources news, SVP Ronald N. Darnell sold 3,162 shares of the business’s stock in a transaction on Monday, March 5th. The shares were sold at an average price of $35.95, for a total transaction of $113,673.90. Following the transaction, the senior vice president now owns 29,726 shares in the company, valued at $1,068,649.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Joseph Don Tarry sold 2,954 shares of the business’s stock in a transaction 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 transaction, the vice president now owns 13,845 shares in the company, valued at approximately $494,266.50. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 7,616 shares of company stock worth $272,457. 1.26% of the stock is owned by insiders.
Several equities analysts have recently commented on the stock. SunTrust Banks reissued a “hold” rating and issued a $37.00 target price on shares of PNM Resources in a report on Monday, April 2nd. Zacks Investment Research raised shares of PNM Resources from a “hold” rating to a “buy” rating and set a $40.00 target price on the stock in a report on Tuesday, March 6th. Wells Fargo set a $38.00 target price on shares of PNM Resources and gave the stock a “hold” rating in a report on Wednesday, February 28th. UBS assumed coverage on shares of PNM Resources in a report on Friday, February 2nd. They issued a “sell” rating and a $36.00 target price on the stock. Finally, Royal Bank of Canada reissued a “hold” rating and issued a $40.00 target price on shares of PNM Resources in a report on Thursday, February 1st. Four analysts have rated the stock with a sell rating, eight have given a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $38.91.
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PNM Resources Company Profile
PNM Resources, Inc, through its subsidiaries, engages in the energy and energy-related businesses 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 is primarily involved in the generation, transmission, and distribution of electricity.
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