Calamos Advisors LLC Increases Holdings in PNM Resources, Inc. (NYSE:PNM)

Calamos Advisors LLC raised its stake in shares of PNM Resources, Inc. (NYSE:PNM) by 32.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 991,028 shares of the utilities provider’s stock after buying an additional 241,028 shares during the quarter. Calamos Advisors LLC owned about 1.15% of PNM Resources worth $41,227,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in PNM. Xponance Inc. lifted its holdings in shares of PNM Resources by 2.9% during the fourth quarter. Xponance Inc. now owns 12,598 shares of the utilities provider’s stock valued at $524,000 after purchasing an additional 356 shares in the last quarter. River Road Asset Management LLC raised its position in PNM Resources by 107.9% in the 4th quarter. River Road Asset Management LLC now owns 1,154,420 shares of the utilities provider’s stock worth $48,024,000 after buying an additional 599,211 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in PNM Resources by 13.1% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 16,488 shares of the utilities provider’s stock worth $686,000 after buying an additional 1,906 shares during the last quarter. DGS Capital Management LLC purchased a new stake in shares of PNM Resources during the 4th quarter valued at about $235,000. Finally, Louisiana State Employees Retirement System purchased a new stake in shares of PNM Resources during the 4th quarter valued at about $1,003,000. Hedge funds and other institutional investors own 91.68% of the company’s stock.

PNM Resources Stock Up 0.6 %

PNM stock traded up $0.23 during trading on Thursday, reaching $36.12. 455,714 shares of the company traded hands, compared to its average volume of 1,450,939. PNM Resources, Inc. has a 12 month low of $34.63 and a 12 month high of $49.08. The business has a 50 day simple moving average of $37.16 and a 200 day simple moving average of $39.75. The company has a market capitalization of $3.26 billion, a price-to-earnings ratio of 35.02, a price-to-earnings-growth ratio of 9.94 and a beta of 0.35. The company has a debt-to-equity ratio of 1.77, a quick ratio of 0.31 and a current ratio of 0.39.

PNM Resources (NYSE:PNM) last announced its quarterly earnings results on Tuesday, February 6th. The utilities provider reported $0.18 earnings per share for the quarter, beating the consensus estimate of $0.14 by $0.04. The company had revenue of $412.11 million during the quarter, compared to analysts’ expectations of $705.05 million. PNM Resources had a return on equity of 10.51% and a net margin of 4.54%. During the same period last year, the business earned $0.15 earnings per share. On average, equities research analysts anticipate that PNM Resources, Inc. will post 2.7 earnings per share for the current fiscal year.

PNM Resources Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 10th. Shareholders of record on Friday, April 26th will be paid a dividend of $0.387 per share. This represents a $1.55 dividend on an annualized basis and a yield of 4.29%. The ex-dividend date of this dividend is Thursday, April 25th. PNM Resources’s dividend payout ratio (DPR) is currently 150.49%.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. TheStreet lowered shares of PNM Resources from a “b-” rating to a “c+” rating in a report on Thursday, January 4th. StockNews.com downgraded PNM Resources from a “hold” rating to a “sell” rating in a research report on Wednesday, January 17th. Mizuho downgraded PNM Resources from a “buy” rating to a “neutral” rating and set a $41.00 target price for the company. in a research report on Wednesday, January 3rd. Wells Fargo & Company upgraded PNM Resources from an “equal weight” rating to an “overweight” rating and set a $44.00 price target for the company in a research report on Wednesday, January 3rd. Finally, Barclays increased their target price on PNM Resources from $40.00 to $43.00 and gave the stock an “overweight” rating in a research note on Monday. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, PNM Resources currently has a consensus rating of “Hold” and a consensus price target of $46.80.

PNM Resources 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.