Gamco Investors INC. ET AL Reduces Position in PNM Resources, Inc. (NYSE:PNM)

Gamco Investors INC. ET AL lowered its position in PNM Resources, Inc. (NYSE:PNMGet Rating) by 4.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,337,071 shares of the utilities provider’s stock after selling 66,068 shares during the quarter. Gamco Investors INC. ET AL owned approximately 1.56% of PNM Resources worth $63,738,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of PNM. Lazard Asset Management LLC purchased a new stake in PNM Resources in the 4th quarter valued at $32,000. Meeder Asset Management Inc. acquired a new position in PNM Resources in the first quarter valued at $72,000. Fulcrum Asset Management LLP purchased a new stake in shares of PNM Resources in the fourth quarter valued at about $117,000. Captrust Financial Advisors boosted its stake in shares of PNM Resources by 14.8% during the first quarter. Captrust Financial Advisors now owns 2,626 shares of the utilities provider’s stock worth $125,000 after buying an additional 339 shares during the period. Finally, C M Bidwell & Associates Ltd. boosted its stake in shares of PNM Resources by 4,500.0% during the first quarter. C M Bidwell & Associates Ltd. now owns 2,760 shares of the utilities provider’s stock worth $132,000 after buying an additional 2,700 shares during the period. 91.18% of the stock is owned by institutional investors and hedge funds.

PNM Resources Trading Down 0.5 %

NYSE PNM opened at $47.13 on Wednesday. The company has a quick ratio of 0.33, a current ratio of 0.41 and a debt-to-equity ratio of 1.63. The stock has a market capitalization of $4.05 billion, a P/E ratio of 25.90, a P/E/G ratio of 3.64 and a beta of 0.42. PNM Resources, Inc. has a 52-week low of $43.43 and a 52-week high of $50.11. The firm has a 50-day moving average price of $47.73 and a 200 day moving average price of $47.06.

PNM Resources (NYSE:PNMGet Rating) last issued its earnings results on Thursday, August 4th. The utilities provider reported $0.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.55 by $0.02. PNM Resources had a return on equity of 10.41% and a net margin of 8.29%. The business had revenue of $499.70 million during the quarter, compared to the consensus estimate of $445.36 million. During the same period in the prior year, the business posted $0.55 EPS. The company’s revenue for the quarter was up 17.2% on a year-over-year basis. Equities research analysts expect that PNM Resources, Inc. will post 2.6 EPS for the current year.

PNM Resources Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, August 31st. Shareholders of record on Wednesday, August 17th were given a dividend of $0.347 per share. The ex-dividend date of this dividend was Tuesday, August 16th. This represents a $1.39 annualized dividend and a dividend yield of 2.95%. PNM Resources’s payout ratio is currently 76.37%.

Wall Street Analyst Weigh In

Separately, Mizuho reduced their price objective on PNM Resources from $52.00 to $51.00 and set a “buy” rating for the company in a research note on Wednesday, September 7th.

PNM Resources Company Profile

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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.

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

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