Oregon Public Employees Retirement Fund increased its holdings in shares of PNM Resources Inc (NYSE:PNM) by 1.4% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 32,030 shares of the utilities provider’s stock after purchasing an additional 455 shares during the period. Oregon Public Employees Retirement Fund’s holdings in PNM Resources were worth $1,631,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also bought and sold shares of PNM. Copper Rock Capital Partners LLC grew its position in PNM Resources by 10.1% during the 2nd quarter. Copper Rock Capital Partners LLC now owns 382,532 shares of the utilities provider’s stock worth $19,475,000 after acquiring an additional 35,227 shares during the last quarter. Dorsey Wright & Associates bought a new stake in PNM Resources during the 2nd quarter worth approximately $3,481,000. First Trust Advisors LP grew its position in PNM Resources by 666.0% during the 1st quarter. First Trust Advisors LP now owns 91,091 shares of the utilities provider’s stock worth $4,312,000 after acquiring an additional 79,200 shares during the last quarter. Nordea Investment Management AB grew its position in PNM Resources by 1.9% during the 1st quarter. Nordea Investment Management AB now owns 175,813 shares of the utilities provider’s stock worth $8,323,000 after acquiring an additional 3,241 shares during the last quarter. Finally, Magellan Asset Management Ltd grew its position in PNM Resources by 9.7% during the 1st quarter. Magellan Asset Management Ltd now owns 61,429 shares of the utilities provider’s stock worth $2,908,000 after acquiring an additional 5,423 shares during the last quarter. 90.12% of the stock is owned by institutional investors and hedge funds.
NYSE:PNM traded down $0.34 during trading hours on Monday, hitting $48.80. 5,074 shares of the stock were exchanged, compared to its average volume of 351,207. The company’s 50 day moving average is $50.56. PNM Resources Inc has a twelve month low of $37.67 and a twelve month high of $52.10. The company has a debt-to-equity ratio of 1.66, a current ratio of 0.69 and a quick ratio of 0.59. The firm has a market capitalization of $3.91 billion, a P/E ratio of 24.40, a P/E/G ratio of 4.28 and a beta of 0.24.
PNM Resources (NYSE:PNM) last posted its quarterly earnings data on Friday, August 2nd. The utilities provider reported $0.37 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.37. PNM Resources had a return on equity of 8.68% and a net margin of 6.10%. The firm had revenue of $330.23 million for the quarter. On average, research analysts anticipate that PNM Resources Inc will post 2.08 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 16th. Shareholders of record on Tuesday, August 6th will be issued a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a yield of 2.38%. The ex-dividend date of this dividend is Monday, August 5th. PNM Resources’s dividend payout ratio is 58.00%.
PNM has been the topic of a number of research analyst reports. UBS Group upgraded PNM Resources from a “sell” rating to a “neutral” rating and set a $49.15 price target on the stock in a research report on Wednesday, June 12th. Mizuho increased their price target on PNM Resources from $52.50 to $54.00 and gave the stock a “buy” rating in a research report on Monday, July 15th. Zacks Investment Research lowered PNM Resources from a “hold” rating to a “sell” rating in a research report on Wednesday, July 31st. Barclays restated a “sell” rating and set a $49.00 price target on shares of PNM Resources in a research report on Wednesday, June 19th. Finally, Wells Fargo & Co set a $52.00 price target on PNM Resources and gave the stock a “hold” rating in a research report on Monday, July 15th. Three research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $50.19.
About PNM Resources
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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