AT Bancorp decreased its stake in PNM Resources Inc (NYSE:PNM) by 6.8% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 51,846 shares of the utilities provider’s stock after selling 3,762 shares during the period. AT Bancorp owned 0.07% of PNM Resources worth $2,130,000 as of its most recent filing with the SEC.
Other hedge funds also recently made changes to their positions in the company. Teachers Advisors LLC raised its position in PNM Resources by 0.5% in the third quarter. Teachers Advisors LLC now owns 504,589 shares of the utilities provider’s stock worth $19,906,000 after acquiring an additional 2,513 shares during the period. Advisors Asset Management Inc. increased its stake in shares of PNM Resources by 7.3% in the third quarter. Advisors Asset Management Inc. now owns 26,401 shares of the utilities provider’s stock worth $1,042,000 after purchasing an additional 1,801 shares in the last quarter. Jane Street Group LLC purchased a new position in shares of PNM Resources in the third quarter worth about $251,000. GSA Capital Partners LLP increased its stake in shares of PNM Resources by 152.3% in the third quarter. GSA Capital Partners LLP now owns 99,291 shares of the utilities provider’s stock worth $3,917,000 after purchasing an additional 59,935 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its stake in shares of PNM Resources by 5.0% in the third quarter. JPMorgan Chase & Co. now owns 322,498 shares of the utilities provider’s stock worth $12,722,000 after purchasing an additional 15,453 shares in the last quarter. 90.06% of the stock is currently owned by institutional investors and hedge funds.
Several research firms have recently weighed in on PNM. Bank of America reiterated an “underperform” rating and issued a $42.00 target price (up previously from $39.00) on shares of PNM Resources in a research note on Tuesday, December 4th. Zacks Investment Research upgraded shares of PNM Resources from a “hold” rating to a “buy” rating and set a $49.00 target price for the company in a research note on Saturday, March 2nd. Barclays lifted their target price on shares of PNM Resources from $38.00 to $39.00 and gave the stock a “sell” rating in a research note on Monday, November 19th. Finally, Mizuho downgraded shares of PNM Resources from a “neutral” rating to an “underperform” rating and reduced their target price for the stock from $39.50 to $38.50 in a research note on Monday, January 14th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the company. PNM Resources currently has an average rating of “Hold” and a consensus target price of $42.75.
In related news, CFO Charles N. Eldred sold 5,061 shares of the business’s stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $44.23, for a total transaction of $223,848.03. Following the completion of the transaction, the chief financial officer now owns 108,289 shares of the company’s stock, valued at $4,789,622.47. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO Charles N. Eldred sold 14,000 shares of the business’s stock in a transaction that occurred on Friday, March 8th. The shares were sold at an average price of $44.64, for a total transaction of $624,960.00. Following the transaction, the chief financial officer now directly owns 108,289 shares of the company’s stock, valued at approximately $4,834,020.96. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 24,953 shares of company stock valued at $1,110,564. 1.25% of the stock is owned by corporate insiders.
Shares of NYSE:PNM opened at $47.17 on Monday. The company has a market cap of $3.76 billion, a P/E ratio of 23.59, a PEG ratio of 4.74 and a beta of 0.28. PNM Resources Inc has a 12 month low of $34.95 and a 12 month high of $47.39. The company has a debt-to-equity ratio of 1.52, a current ratio of 0.59 and a quick ratio of 0.45.
PNM Resources (NYSE:PNM) last issued its quarterly earnings data on Wednesday, February 27th. The utilities provider reported $0.18 EPS for the quarter, beating the consensus estimate of $0.17 by $0.01. PNM Resources had a net margin of 5.98% and a return on equity of 9.00%. During the same quarter in the previous year, the company earned $0.24 earnings per share. As a group, equities research analysts anticipate that PNM Resources Inc will post 2.15 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 16th. Investors of record on Thursday, May 2nd will be paid a dividend of $0.29 per share. The ex-dividend date of this dividend is Wednesday, May 1st. This represents a $1.16 annualized dividend and a yield of 2.46%. PNM Resources’s dividend payout ratio is currently 58.00%.
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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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