Jane Street Group LLC Takes Position in PNM Resources Inc (PNM)

Jane Street Group LLC acquired a new stake in PNM Resources Inc (NYSE:PNM) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 8,551 shares of the utilities provider’s stock, valued at approximately $346,000.

A number of other institutional investors have also recently made changes to their positions in PNM. BlackRock Inc. grew its holdings in shares of PNM Resources by 6.1% during the fourth quarter. BlackRock Inc. now owns 8,926,954 shares of the utilities provider’s stock valued at $361,095,000 after purchasing an additional 515,725 shares during the last quarter. Renaissance Technologies LLC grew its holdings in shares of PNM Resources by 21.9% during the fourth quarter. Renaissance Technologies LLC now owns 2,296,300 shares of the utilities provider’s stock valued at $92,885,000 after purchasing an additional 412,100 shares during the last quarter. APG Asset Management N.V. grew its holdings in shares of PNM Resources by 175.2% during the fourth quarter. APG Asset Management N.V. now owns 1,182,300 shares of the utilities provider’s stock valued at $39,827,000 after purchasing an additional 752,700 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of PNM Resources by 6.9% during the fourth quarter. Geode Capital Management LLC now owns 706,326 shares of the utilities provider’s stock valued at $28,570,000 after purchasing an additional 45,841 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. grew its holdings in shares of PNM Resources by 1.4% during the fourth quarter. Schwab Charles Investment Management Inc. now owns 587,747 shares of the utilities provider’s stock valued at $23,775,000 after purchasing an additional 8,235 shares during the last quarter. 91.80% of the stock is owned by hedge funds and other institutional investors.

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Several equities analysts have recently commented on PNM shares. Zacks Investment Research lowered PNM Resources from a “buy” rating to a “hold” rating in a report on Tuesday, December 26th. SunTrust Banks reaffirmed a “hold” rating and set a $39.00 target price on shares of PNM Resources in a report on Tuesday, December 26th. Mizuho raised PNM Resources from an “underperform” rating to a “neutral” rating and set a $37.00 target price for the company in a report on Tuesday, January 23rd. Wells Fargo set a $38.00 target price on PNM Resources and gave the company a “hold” rating in a report on Wednesday, February 28th. Finally, UBS started coverage on PNM Resources in a report on Friday, February 2nd. They set a “sell” rating and a $36.00 target price for the company. Four investment analysts have rated the stock with a sell rating, eight have given a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. PNM Resources has a consensus rating of “Hold” and a consensus price target of $38.91.

Shares of NYSE PNM opened at $37.80 on Friday. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.35 and a quick ratio of 0.27. The company has a market cap of $2,987.01, a PE ratio of 19.48, a price-to-earnings-growth ratio of 3.75 and a beta of 0.26. PNM Resources Inc has a 12-month low of $33.75 and a 12-month high of $46.00.

PNM Resources (NYSE:PNM) last issued its quarterly earnings data on Tuesday, February 27th. The utilities provider reported $0.24 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.19 by $0.05. The business had revenue of $332.61 million during the quarter, compared to the consensus estimate of $330.25 million. PNM Resources had a return on equity of 8.71% and a net margin of 5.55%. During the same period in the previous year, the firm posted $0.34 earnings per share. analysts predict that PNM Resources Inc will post 1.87 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 16th. Stockholders of record on Wednesday, May 2nd will be given a dividend of $0.265 per share. The ex-dividend date is Tuesday, May 1st. This represents a $1.06 annualized dividend and a dividend yield of 2.80%. PNM Resources’s dividend payout ratio is presently 54.64%.

In other news, CFO Charles N. Eldred sold 1,500 shares of the business’s stock in a transaction that occurred on Friday, March 2nd. The stock was sold at an average price of $35.55, for a total transaction of $53,325.00. Following the completion of the transaction, the chief financial officer now directly owns 115,888 shares in the company, valued at $4,119,818.40. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Joseph Don Tarry sold 2,954 shares of the business’s stock in a transaction that occurred on Monday, March 5th. The stock was sold at an average price of $35.70, for a total value of $105,457.80. Following the transaction, the vice president now owns 13,845 shares of the company’s stock, valued at $494,266.50. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 7,616 shares of company stock valued at $272,457. Insiders own 1.26% of the company’s stock.

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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.

Institutional Ownership by Quarter for PNM Resources (NYSE:PNM)

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