PNM Resources, Inc. (NYSE:PNM) Stock Holdings Trimmed by Russell Investments Group Ltd.

Russell Investments Group Ltd. lessened its position in PNM Resources, Inc. (NYSE:PNM – Get Rating) by 77.8% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 23,314 shares of the utilities provider’s stock after selling 81,874 shares during the period. Russell Investments Group Ltd.’s holdings in PNM Resources were worth $1,137,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. raised its stake in shares of PNM Resources by 1.1% in the 3rd quarter. Vanguard Group Inc. now owns 9,045,025 shares of the utilities provider’s stock worth $413,629,000 after buying an additional 99,734 shares in the last quarter. State Street Corp grew its holdings in shares of PNM Resources by 0.6% during the third quarter. State Street Corp now owns 3,164,685 shares of the utilities provider’s stock valued at $144,721,000 after buying an additional 19,343 shares in the last quarter. Cohen & Steers Inc. grew its holdings in shares of PNM Resources by 3.1% during the third quarter. Cohen & Steers Inc. now owns 2,115,292 shares of the utilities provider’s stock valued at $96,732,000 after buying an additional 63,787 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of PNM Resources by 1.4% during the third quarter. Dimensional Fund Advisors LP now owns 1,471,776 shares of the utilities provider’s stock valued at $67,304,000 after buying an additional 20,468 shares in the last quarter. Finally, Citadel Advisors LLC grew its stake in PNM Resources by 101.2% in the third quarter. Citadel Advisors LLC now owns 1,365,336 shares of the utilities provider’s stock valued at $62,437,000 after purchasing an additional 686,696 shares in the last quarter. Institutional investors own 89.88% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have commented on the company. Siebert Williams Shank upgraded PNM Resources from a “hold” rating to a “buy” rating and boosted their target price for the company from $53.00 to $55.00 in a research note on Tuesday, May 16th. StockNews.com downgraded PNM Resources from a “buy” rating to a “hold” rating in a research note on Wednesday.

PNM Resources Trading Down 0.3 %

PNM stock opened at $45.62 on Thursday. PNM Resources, Inc. has a 1-year low of $43.43 and a 1-year high of $49.60. The firm has a market cap of $3.92 billion, a P/E ratio of 18.85, a P/E/G ratio of 4.08 and a beta of 0.42. The business’s 50 day moving average is $48.10 and its 200-day moving average is $48.59. The company has a current ratio of 0.29, a quick ratio of 0.24 and a debt-to-equity ratio of 1.62.

PNM Resources (NYSE:PNM – Get Rating) last released its quarterly earnings results on Friday, May 5th. The utilities provider reported $0.55 EPS for the quarter, topping analysts’ consensus estimates of $0.39 by $0.16. The business had revenue of $544.00 million for the quarter, compared to analyst estimates of $460.14 million. PNM Resources had a return on equity of 10.55% and a net margin of 8.89%. PNM Resources’s revenue for the quarter was up 22.5% on a year-over-year basis. During the same period in the prior year, the company earned $0.50 EPS. Equities analysts anticipate that PNM Resources, Inc. will post 2.65 earnings per share for the current fiscal year.

PNM Resources Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, May 12th. Stockholders of record on Friday, April 28th were paid a $0.368 dividend. This represents a $1.47 dividend on an annualized basis and a dividend yield of 3.23%. The ex-dividend date of this dividend was Thursday, April 27th. PNM Resources’s dividend payout ratio (DPR) is currently 60.74%.

PNM Resources 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.