State of Alaska Department of Revenue Sells 420 Shares of PNM Resources, Inc. (NYSE:PNM)

State of Alaska Department of Revenue reduced its stake in PNM Resources, Inc. (NYSE:PNMGet Rating) by 3.4% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 11,908 shares of the utilities provider’s stock after selling 420 shares during the period. State of Alaska Department of Revenue’s holdings in PNM Resources were worth $544,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. Exchange Traded Concepts LLC increased its holdings in PNM Resources by 2.3% in the 2nd quarter. Exchange Traded Concepts LLC now owns 13,255 shares of the utilities provider’s stock valued at $633,000 after acquiring an additional 304 shares during the last quarter. Captrust Financial Advisors increased its holdings in PNM Resources by 14.8% in the 1st quarter. Captrust Financial Advisors now owns 2,626 shares of the utilities provider’s stock valued at $125,000 after acquiring an additional 339 shares during the last quarter. Quadrant Capital Group LLC increased its holdings in PNM Resources by 265.5% in the 2nd quarter. Quadrant Capital Group LLC now owns 541 shares of the utilities provider’s stock valued at $26,000 after acquiring an additional 393 shares during the last quarter. LPL Financial LLC increased its holdings in PNM Resources by 6.5% in the 2nd quarter. LPL Financial LLC now owns 6,892 shares of the utilities provider’s stock valued at $329,000 after acquiring an additional 421 shares during the last quarter. Finally, Retirement Systems of Alabama increased its holdings in PNM Resources by 0.4% in the 2nd quarter. Retirement Systems of Alabama now owns 113,072 shares of the utilities provider’s stock valued at $5,403,000 after acquiring an additional 447 shares during the last quarter. 89.88% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

PNM has been the subject of a number of recent research reports. StockNews.com initiated coverage on shares of PNM Resources in a research note on Wednesday, October 12th. They issued a “hold” rating for the company. Wells Fargo & Company lifted their price objective on shares of PNM Resources to $48.00 in a research note on Wednesday, December 14th. Finally, Mizuho cut shares of PNM Resources from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $51.00 to $50.30 in a research note on Monday.

PNM Resources Price Performance

PNM stock opened at $49.11 on Friday. The stock has a market cap of $4.22 billion, a PE ratio of 25.58, a P/E/G ratio of 4.37 and a beta of 0.41. PNM Resources, Inc. has a 12 month low of $43.43 and a 12 month high of $49.31. The company has a 50-day moving average price of $48.54 and a 200 day moving average price of $47.69. The company has a current ratio of 0.61, a quick ratio of 0.52 and a debt-to-equity ratio of 1.73.

PNM Resources (NYSE:PNMGet Rating) last issued its quarterly earnings results on Friday, November 4th. The utilities provider reported $1.46 EPS for the quarter, beating the consensus estimate of $1.29 by $0.17. The company had revenue of $729.89 million for the quarter. PNM Resources had a net margin of 8.03% and a return on equity of 10.72%. Equities research analysts anticipate that PNM Resources, Inc. will post 2.6 earnings per share for the current year.

PNM Resources Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, February 17th. Investors of record on Friday, February 3rd will be issued a dividend of $0.368 per share. This represents a $1.47 annualized dividend and a yield of 3.00%. This is an increase from PNM Resources’s previous quarterly dividend of $0.35. The ex-dividend date is Thursday, February 2nd. PNM Resources’s dividend payout ratio is presently 72.40%.

PNM Resources Profile

(Get Rating)

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.

See Also

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

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