State Board of Administration of Florida Retirement System lifted its holdings in shares of PNM Resources, Inc. (NYSE:PNM – Get Rating) by 19.1% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 16,261 shares of the utilities provider’s stock after purchasing an additional 2,610 shares during the period. State Board of Administration of Florida Retirement System’s holdings in PNM Resources were worth $793,000 as of its most recent filing with the SEC.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Nomura Asset Management Co. Ltd. grew its holdings 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 purchasing an additional 220 shares during the last quarter. Pacer Advisors Inc. bought a new stake in PNM Resources in the 4th quarter worth $803,000. MetLife Investment Management LLC grew its holdings in PNM Resources by 1.1% in the 3rd quarter. MetLife Investment Management LLC now owns 98,811 shares of the utilities provider’s stock worth $4,519,000 after acquiring an additional 1,062 shares during the last quarter. Pendal Group Ltd bought a new stake in PNM Resources in the 4th quarter worth $2,503,000. Finally, Cohen & Steers Inc. grew its holdings in PNM Resources by 3.1% in the 3rd quarter. Cohen & Steers Inc. now owns 2,115,292 shares of the utilities provider’s stock worth $96,732,000 after acquiring an additional 63,787 shares during the last quarter. Institutional investors own 89.88% of the company’s stock.
PNM Resources Price Performance
Shares of NYSE PNM opened at $45.91 on Thursday. PNM Resources, Inc. has a 1 year low of $43.43 and a 1 year high of $49.60. The company has a debt-to-equity ratio of 1.62, a current ratio of 0.29 and a quick ratio of 0.24. The company’s 50-day moving average is $48.43 and its 200 day moving average is $48.63. The stock has a market capitalization of $3.94 billion, a P/E ratio of 18.97, a P/E/G ratio of 4.27 and a beta of 0.42.
PNM Resources Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Friday, May 12th. Investors of record on Friday, April 28th were given a dividend of $0.368 per share. This represents a $1.47 annualized dividend and a dividend yield of 3.21%. The ex-dividend date was Thursday, April 27th. PNM Resources’s dividend payout ratio is currently 60.74%.
Analyst Upgrades and Downgrades
A number of equities research analysts have issued reports on the stock. Siebert Williams Shank raised shares of PNM Resources from a “hold” rating to a “buy” rating and raised their price target for the stock from $53.00 to $55.00 in a report on Tuesday. StockNews.com raised shares of PNM Resources from a “hold” rating to a “buy” rating in a report on Tuesday.
PNM Resources Profile
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.
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