Guggenheim Capital LLC lifted its position in PNM Resources (NYSE:PNM) by 66.8% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 253,942 shares of the utilities provider’s stock after purchasing an additional 101,653 shares during the period. Guggenheim Capital LLC owned about 0.32% of PNM Resources worth $9,713,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. A.R.T. Advisors LLC purchased a new stake in shares of PNM Resources in the first quarter worth $2,597,000. Shelter Harbor Advisors LP purchased a new stake in shares of PNM Resources in the first quarter worth $4,781,000. Magellan Asset Management Ltd increased its stake in shares of PNM Resources by 14.4% in the first quarter. Magellan Asset Management Ltd now owns 61,531 shares of the utilities provider’s stock worth $2,354,000 after purchasing an additional 7,758 shares in the last quarter. Northwestern Mutual Investment Management Company LLC increased its stake in shares of PNM Resources by 56.2% in the first quarter. Northwestern Mutual Investment Management Company LLC now owns 16,299 shares of the utilities provider’s stock worth $623,000 after purchasing an additional 5,867 shares in the last quarter. Finally, Allianz Asset Management GmbH increased its stake in shares of PNM Resources by 631.7% in the first quarter. Allianz Asset Management GmbH now owns 223,783 shares of the utilities provider’s stock worth $8,560,000 after purchasing an additional 193,201 shares in the last quarter. 90.55% of the stock is owned by hedge funds and other institutional investors.
In other PNM Resources news, Director Norman P. Becker acquired 1,250 shares of the stock in a transaction on Tuesday, May 8th. The stock was acquired at an average price of $38.50 per share, for a total transaction of $48,125.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.25% of the stock is owned by company insiders.
Shares of PNM Resources opened at $38.95 on Thursday, MarketBeat reports. The company has a debt-to-equity ratio of 1.30, a current ratio of 0.35 and a quick ratio of 0.27. PNM Resources has a fifty-two week low of $33.75 and a fifty-two week high of $46.00. The firm has a market cap of $3.10 billion, a P/E ratio of 20.08, a P/E/G ratio of 4.07 and a beta of 0.27.
PNM Resources (NYSE:PNM) last issued its earnings results on Friday, April 27th. The utilities provider reported $0.21 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.21. PNM Resources had a net margin of 5.03% and a return on equity of 8.41%. The firm had revenue of $317.88 million during the quarter, compared to analyst estimates of $257.44 million. During the same quarter in the prior year, the business earned $0.28 earnings per share. research analysts anticipate that PNM Resources will post 1.87 earnings per share for the current year.
A number of analysts have recently issued reports on PNM shares. SunTrust Banks reissued a “hold” rating and issued a $37.00 price objective on shares of PNM Resources in a research note on Monday, April 2nd. Zacks Investment Research cut shares of PNM Resources from a “buy” rating to a “hold” rating in a research note on Wednesday, May 9th. ValuEngine cut shares of PNM Resources from a “buy” rating to a “hold” rating in a research note on Wednesday, May 2nd. Finally, Wells Fargo & Co set a $38.00 target price on shares of PNM Resources and gave the stock a “hold” rating in a research report on Wednesday, February 28th. Four analysts have rated the stock with a sell rating, nine have issued a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $38.91.
PNM Resources 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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