PNM Resources (NYSE:PNM) Sets New 12-Month High at $49.32

Shares of PNM Resources, Inc. (NYSE:PNM – Get Rating) hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $49.32 and last traded at $49.19, with a volume of 804 shares traded. The stock had previously closed at $49.18.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on PNM shares. StockNews.com started coverage on shares of PNM Resources in a research report on Wednesday, October 12th. They set a “hold” rating for the company. Mizuho downgraded shares of PNM Resources from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $51.00 to $50.30 in a research report on Monday, January 9th. Finally, Wells Fargo & Company raised their price objective on shares of PNM Resources to $48.00 in a research report on Wednesday, December 14th.

PNM Resources Trading Down 0.4 %

The company has a quick ratio of 0.52, a current ratio of 0.61 and a debt-to-equity ratio of 1.73. The firm has a market capitalization of $4.23 billion, a P/E ratio of 25.66, a PEG ratio of 4.38 and a beta of 0.41. The firm has a 50 day moving average of $48.73 and a 200-day moving average of $47.74.

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

PNM Resources Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 17th. Shareholders of record on Friday, February 3rd will be paid a dividend of $0.368 per share. The ex-dividend date of this dividend is Thursday, February 2nd. This is a boost from PNM Resources’s previous quarterly dividend of $0.35. This represents a $1.47 annualized dividend and a yield of 2.99%. PNM Resources’s dividend payout ratio is presently 72.40%.

Institutional Investors Weigh In On PNM Resources

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Johnson & White Wealth Management LLC bought a new stake in PNM Resources during the fourth quarter worth $455,000. Exchange Traded Concepts LLC lifted its stake in PNM Resources by 2.8% during the fourth quarter. Exchange Traded Concepts LLC now owns 13,257 shares of the utilities provider’s stock worth $647,000 after purchasing an additional 360 shares during the last quarter. Allworth Financial LP lifted its stake in PNM Resources by 6,406.7% during the fourth quarter. Allworth Financial LP now owns 976 shares of the utilities provider’s stock worth $48,000 after purchasing an additional 961 shares during the last quarter. Coldstream Capital Management Inc. bought a new stake in PNM Resources during the fourth quarter worth $272,000. Finally, Robeco Institutional Asset Management B.V. bought a new stake in PNM Resources during the third quarter worth $758,000. 89.88% of the stock is currently owned by institutional investors.

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.