Healthcare of Ontario Pension Plan Trust Fund Lowers Position in PNM Resources, Inc. (NYSE:PNM)

Healthcare of Ontario Pension Plan Trust Fund reduced its stake in PNM Resources, Inc. (NYSE:PNM) by 6.2% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 211,500 shares of the utilities provider’s stock after selling 13,900 shares during the quarter. Healthcare of Ontario Pension Plan Trust Fund owned approximately 0.25% of PNM Resources worth $10,296,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Tower Research Capital LLC TRC grew its stake in PNM Resources by 220.5% in the 1st quarter. Tower Research Capital LLC TRC now owns 13,139 shares of the utilities provider’s stock valued at $640,000 after purchasing an additional 9,039 shares during the period. Jennison Associates LLC grew its stake in PNM Resources by 1.6% in the 4th quarter. Jennison Associates LLC now owns 991,827 shares of the utilities provider’s stock valued at $48,391,000 after purchasing an additional 15,818 shares during the period. Vise Technologies Inc. grew its stake in PNM Resources by 17.2% in the 1st quarter. Vise Technologies Inc. now owns 5,622 shares of the utilities provider’s stock valued at $274,000 after purchasing an additional 826 shares during the period. Edgestream Partners L.P. bought a new position in shares of PNM Resources during the 4th quarter worth $9,447,000. Finally, AGF Management Ltd. grew its stake in shares of PNM Resources by 0.5% during the 1st quarter. AGF Management Ltd. now owns 70,683 shares of the utilities provider’s stock worth $3,441,000 after acquiring an additional 341 shares during the period. Institutional investors own 91.18% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on PNM shares. StockNews.com started coverage on PNM Resources in a research note on Thursday, August 17th. They set a “hold” rating for the company. Siebert Williams Shank upgraded PNM Resources from a “hold” rating to a “buy” rating and increased their price target for the stock from $53.00 to $55.00 in a research note on Tuesday, May 16th.

PNM Resources Stock Down 0.0 %

Shares of NYSE PNM opened at $44.25 on Monday. PNM Resources, Inc. has a 52 week low of $43.69 and a 52 week high of $49.60. The business has a 50-day simple moving average of $44.75 and a two-hundred day simple moving average of $46.59. The company has a quick ratio of 0.29, a current ratio of 0.37 and a debt-to-equity ratio of 1.70. The company has a market cap of $3.80 billion, a P/E ratio of 15.97, a P/E/G ratio of 3.63 and a beta of 0.41.

PNM Resources (NYSE:PNM) last issued its earnings results on Friday, August 4th. The utilities provider reported $0.55 EPS for the quarter, missing the consensus estimate of $0.56 by ($0.01). PNM Resources had a return on equity of 10.31% and a net margin of 10.26%. The company had revenue of $477.20 million during the quarter, compared to the consensus estimate of $446.75 million. During the same quarter in the prior year, the business earned $0.57 EPS. The firm’s revenue for the quarter was down 4.5% compared to the same quarter last year. Research analysts anticipate that PNM Resources, Inc. will post 2.72 earnings per share for the current fiscal year.

PNM Resources Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 25th. Shareholders of record on Friday, August 11th were issued a $0.3675 dividend. The ex-dividend date of this dividend was Thursday, August 10th. This represents a $1.47 annualized dividend and a dividend yield of 3.32%. PNM Resources’s payout ratio is currently 53.07%.

PNM Resources Company Profile

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.