Arizona State Retirement System Buys 850 Shares of PNM Resources, Inc. (NYSE:PNM)

Arizona State Retirement System lifted its stake in PNM Resources, Inc. (NYSE:PNM – Get Rating) by 3.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 23,009 shares of the utilities provider’s stock after acquiring an additional 850 shares during the period. Arizona State Retirement System’s holdings in PNM Resources were worth $1,123,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Wipfli Financial Advisors LLC purchased a new stake in shares of PNM Resources in the third quarter worth $26,000. Lindbrook Capital LLC raised its position in shares of PNM Resources by 194.1% in the fourth quarter. Lindbrook Capital LLC now owns 597 shares of the utilities provider’s stock worth $29,000 after buying an additional 394 shares in the last quarter. Signaturefd LLC raised its position in shares of PNM Resources by 60.1% in the third quarter. Signaturefd LLC now owns 783 shares of the utilities provider’s stock worth $36,000 after buying an additional 294 shares in the last quarter. Quadrant Capital Group LLC raised its position in shares of PNM Resources by 44.5% in the third quarter. Quadrant Capital Group LLC now owns 782 shares of the utilities provider’s stock worth $36,000 after buying an additional 241 shares in the last quarter. Finally, Nomura Asset Management Co. Ltd. raised its position in shares of PNM Resources by 34.9% in the third quarter. Nomura Asset Management Co. Ltd. now owns 850 shares of the utilities provider’s stock worth $39,000 after buying an additional 220 shares in the last quarter. Hedge funds and other institutional investors own 89.88% of the company’s stock.

Analyst Ratings Changes

Separately, StockNews.com began coverage on PNM Resources in a research report on Thursday, March 16th. They set a “hold” rating on the stock.

PNM Resources Trading Down 0.1 %

NYSE PNM opened at $47.76 on Friday. The stock’s 50-day simple moving average is $48.64 and its two-hundred day simple moving average is $48.64. PNM Resources, Inc. has a twelve month low of $43.43 and a twelve month high of $49.60. The company has a quick ratio of 0.39, a current ratio of 0.29 and a debt-to-equity ratio of 1.62. The company has a market capitalization of $4.10 billion, a price-to-earnings ratio of 19.74, a PEG ratio of 4.32 and a beta of 0.42.

PNM Resources (NYSE:PNM – Get Rating) last released its quarterly earnings results on Friday, May 5th. The utilities provider reported $0.55 earnings per share for the quarter, beating analysts’ consensus estimates of $0.39 by $0.16. PNM Resources had a return on equity of 10.55% and a net margin of 8.89%. The business had revenue of $544.00 million for the quarter, compared to the consensus estimate of $460.14 million. During the same quarter last year, the business posted $0.50 earnings per share. The company’s revenue for the quarter was up 22.5% on a year-over-year basis. Research analysts forecast that PNM Resources, Inc. will post 2.66 EPS for the current fiscal year.

PNM Resources Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 12th. Stockholders of record on Friday, April 28th were issued a $0.368 dividend. The ex-dividend date was Thursday, April 27th. This represents a $1.47 annualized dividend and a dividend yield of 3.08%. PNM Resources’s dividend payout ratio is currently 60.74%.

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.