Ergoteles LLC Sells 5,794 Shares of PNM Resources, Inc. (NYSE:PNM)

Ergoteles LLC lessened its holdings in PNM Resources, Inc. (NYSE:PNM – Get Rating) by 48.6% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,126 shares of the utilities provider’s stock after selling 5,794 shares during the quarter. Ergoteles LLC’s holdings in PNM Resources were worth $280,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently bought and sold shares of PNM. Quadrant Capital Group LLC lifted its position in shares of PNM Resources by 265.5% during the 2nd quarter. Quadrant Capital Group LLC now owns 541 shares of the utilities provider’s stock valued at $26,000 after buying an additional 393 shares during the last quarter. Wipfli Financial Advisors LLC purchased a new position in shares of PNM Resources during the 3rd quarter valued at $26,000. Signaturefd LLC lifted its position in shares of PNM Resources by 60.1% during the 3rd quarter. Signaturefd LLC now owns 783 shares of the utilities provider’s stock valued at $36,000 after buying an additional 294 shares during the last quarter. Nomura Asset Management Co. Ltd. lifted its position in shares of PNM Resources by 34.9% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 850 shares of the utilities provider’s stock valued at $39,000 after buying an additional 220 shares during the last quarter. Finally, Bessemer Group Inc. lifted its position in shares of PNM Resources by 1,081.5% during the 3rd quarter. Bessemer Group Inc. now owns 1,087 shares of the utilities provider’s stock valued at $50,000 after buying an additional 995 shares during the last quarter. Institutional investors own 89.88% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently commented on PNM. Mizuho cut PNM Resources from a “buy” rating to a “neutral” rating and dropped their price target for the company from $51.00 to $50.30 in a research report on Monday, January 9th. Wells Fargo & Company upped their price target on PNM Resources to $48.00 in a research report on Wednesday, December 14th.

PNM Resources Stock Performance

Shares of PNM opened at $48.92 on Friday. The stock’s 50-day simple moving average is $49.14 and its 200 day simple moving average is $48.06. The stock has a market capitalization of $4.20 billion, a price-to-earnings ratio of 24.83, a price-to-earnings-growth ratio of 4.36 and a beta of 0.41. The company has a debt-to-equity ratio of 1.73, a quick ratio of 0.52 and a current ratio of 0.46. PNM Resources, Inc. has a 52-week low of $43.43 and a 52-week high of $49.60.

PNM Resources (NYSE:PNM – Get Rating) last issued its quarterly earnings data on Friday, February 24th. The utilities provider reported $0.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.14 by $0.01. The business had revenue of $575.82 million for the quarter, compared to analysts’ expectations of $244.99 million. PNM Resources had a return on equity of 10.46% and a net margin of 7.55%. During the same quarter in the prior year, the firm posted $0.21 EPS. Research analysts forecast that PNM Resources, Inc. will post 2.66 EPS for the current fiscal year.

PNM Resources Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 12th. Shareholders of record on Friday, April 28th will be paid a $0.368 dividend. The ex-dividend date of this dividend is Thursday, April 27th. This represents a $1.47 dividend on an annualized basis and a yield of 3.01%. PNM Resources’s dividend payout ratio is currently 74.62%.

PNM Resources Company Profile

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PNM Resources, Inc operates as an investor-owned holding company, which provides electricity and electric services in New Mexico and Texas. It operates through the following segments: Public Service Company of New Mexico (PNM), Texas-New Mexico Power Company (TNMP), and Corporate and Other. The PNM segment includes the retail electric utility operations of the company.