PNM Resources Inc (NYSE:PNM) SVP Ronald N. Darnell sold 3,162 shares of the company’s stock in a transaction dated Monday, March 5th. The stock was sold at an average price of $35.95, for a total transaction of $113,673.90. Following the transaction, the senior vice president now owns 29,726 shares of the company’s stock, valued at approximately $1,068,649.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.
Shares of PNM Resources Inc (PNM) traded up $0.40 on Wednesday, reaching $36.55. 383,301 shares of the company were exchanged, compared to its average volume of 756,536. The company has a market cap of $2,883.46, a price-to-earnings ratio of 36.55, a PEG ratio of 3.38 and a beta of 0.34. The company has a quick ratio of 0.27, a current ratio of 0.35 and a debt-to-equity ratio of 1.24. PNM Resources Inc has a 12-month low of $33.75 and a 12-month high of $46.00.
PNM Resources (NYSE:PNM) last announced its earnings results on Tuesday, February 27th. The utilities provider reported $0.24 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.19 by $0.05. PNM Resources had a net margin of 5.55% and a return on equity of 8.71%. The firm had revenue of $332.61 million during the quarter, compared to analyst estimates of $330.25 million. During the same quarter in the prior year, the firm posted $0.34 EPS. research analysts anticipate that PNM Resources Inc will post 1.86 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 16th. Shareholders of record on Wednesday, May 2nd will be issued a $0.265 dividend. This represents a $1.06 dividend on an annualized basis and a yield of 2.90%. The ex-dividend date of this dividend is Tuesday, May 1st. PNM Resources’s payout ratio is 106.00%.
A number of hedge funds and other institutional investors have recently modified their holdings of PNM. APG Asset Management N.V. lifted its holdings in PNM Resources by 175.2% in the 4th quarter. APG Asset Management N.V. now owns 1,182,300 shares of the utilities provider’s stock valued at $39,827,000 after acquiring an additional 752,700 shares during the last quarter. BlackRock Inc. lifted its holdings in PNM Resources by 6.1% in the 4th quarter. BlackRock Inc. now owns 8,926,954 shares of the utilities provider’s stock valued at $361,095,000 after acquiring an additional 515,725 shares during the last quarter. Renaissance Technologies LLC lifted its holdings in PNM Resources by 21.9% in the 4th quarter. Renaissance Technologies LLC now owns 2,296,300 shares of the utilities provider’s stock valued at $92,885,000 after acquiring an additional 412,100 shares during the last quarter. Millennium Management LLC lifted its holdings in PNM Resources by 220.6% in the 4th quarter. Millennium Management LLC now owns 370,119 shares of the utilities provider’s stock valued at $14,971,000 after acquiring an additional 254,659 shares during the last quarter. Finally, Deutsche Bank AG lifted its holdings in PNM Resources by 171.0% in the 4th quarter. Deutsche Bank AG now owns 273,492 shares of the utilities provider’s stock valued at $11,060,000 after acquiring an additional 172,560 shares during the last quarter. 91.80% of the stock is owned by institutional investors.
Several equities analysts have recently commented on PNM shares. Zacks Investment Research upgraded shares of PNM Resources from a “hold” rating to a “buy” rating and set a $40.00 price target for the company in a research report on Tuesday, March 6th. Wells Fargo & Co set a $38.00 price target on shares of PNM Resources and gave the stock a “hold” rating in a research report on Wednesday, February 28th. SunTrust Banks set a $34.00 price target on shares of PNM Resources and gave the stock a “hold” rating in a research report on Monday, February 12th. Royal Bank of Canada restated a “hold” rating and set a $40.00 price target on shares of PNM Resources in a research report on Thursday, February 1st. Finally, Mizuho upgraded shares of PNM Resources from an “underperform” rating to a “neutral” rating and set a $37.00 price target for the company in a research report on Tuesday, January 23rd. Four equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, two have given 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 target price of $38.66.
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PNM Resources Company Profile
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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