Nationwide Fund Advisors trimmed its holdings in PNM Resources, Inc. (Holding Co.) (NYSE:PNM) by 1.3% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 255,445 shares of the utilities provider’s stock after selling 3,429 shares during the period. Nationwide Fund Advisors owned approximately 0.32% of PNM Resources worth $10,294,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors have also added to or reduced their stakes in the stock. Meeder Asset Management Inc. purchased a new position in PNM Resources in the 3rd quarter valued at approximately $170,000. Mutual of America Capital Management LLC grew its position in shares of PNM Resources by 2.8% during the 3rd quarter. Mutual of America Capital Management LLC now owns 183,570 shares of the utilities provider’s stock valued at $7,398,000 after purchasing an additional 4,993 shares in the last quarter. Lord Abbett & CO. LLC purchased a new position in shares of PNM Resources during the 2nd quarter valued at $11,867,000. Public Employees Retirement System of Ohio grew its position in shares of PNM Resources by 181.0% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 20,951 shares of the utilities provider’s stock valued at $801,000 after purchasing an additional 13,495 shares in the last quarter. Finally, Piedmont Investment Advisors LLC grew its position in shares of PNM Resources by 43.4% during the 2nd quarter. Piedmont Investment Advisors LLC now owns 52,788 shares of the utilities provider’s stock valued at $2,019,000 after purchasing an additional 15,980 shares in the last quarter. Institutional investors and hedge funds own 92.55% of the company’s stock.
PNM Resources, Inc. (NYSE:PNM) traded down $0.65 during midday trading on Wednesday, hitting $44.75. 491,900 shares of the stock were exchanged, compared to its average volume of 583,529. PNM Resources, Inc. has a 52 week low of $31.15 and a 52 week high of $46.00. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.53 and a quick ratio of 0.43. The company has a market cap of $3,616.27, a P/E ratio of 22.25, a P/E/G ratio of 4.46 and a beta of 0.36.
PNM Resources (NYSE:PNM) last posted its quarterly earnings data on Friday, October 27th. The utilities provider reported $0.93 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.85 by $0.08. PNM Resources had a net margin of 11.27% and a return on equity of 9.18%. The company had revenue of $419.90 million during the quarter, compared to the consensus estimate of $422.71 million. During the same period in the previous year, the firm posted $0.78 EPS. sell-side analysts predict that PNM Resources, Inc. will post 1.86 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, February 1st. Stockholders of record on Thursday, January 18th will be issued a dividend of $0.265 per share. This is an increase from PNM Resources’s previous quarterly dividend of $0.24. This represents a $1.06 dividend on an annualized basis and a dividend yield of 2.37%. The ex-dividend date of this dividend is Wednesday, January 17th. PNM Resources’s payout ratio is currently 48.74%.
PNM has been the subject of a number of recent analyst reports. BidaskClub upgraded shares of PNM Resources from a “buy” rating to a “strong-buy” rating in a research report on Thursday, August 10th. Argus restated a “buy” rating and set a $41.40 price target (down from $43.00) on shares of PNM Resources in a research report on Friday, August 11th. Ladenburg Thalmann Financial Services lowered shares of PNM Resources from a “buy” rating to a “neutral” rating and set a $41.00 price target for the company. in a research report on Friday, August 18th. Royal Bank Of Canada lowered shares of PNM Resources from an “outperform” rating to a “sector perform” rating in a research report on Friday, August 18th. Finally, Jefferies Group restated a “hold” rating and set a $43.00 price target on shares of PNM Resources in a research report on Thursday, August 31st. Four investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $39.74.
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About PNM Resources
PNM Resources, Inc (PNMR) is an investor-owned holding company with approximately two regulated utilities providing electricity and electric services in New Mexico and Texas. PNMR’s electric utilities are Public Service Company of New Mexico (PNM) and Texas-New Mexico Power Company (TNMP). It operates in three segments: PNM, TNMP, and Corporate and Other.
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