Allworth Financial LP Sells 444 Shares of PNM Resources, Inc. (NYSE:PNM)

Allworth Financial LP trimmed its position in PNM Resources, Inc. (NYSE:PNM) by 40.8% during the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 644 shares of the utilities provider’s stock after selling 444 shares during the period. Allworth Financial LP’s holdings in PNM Resources were worth $27,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of the company. BlackRock Inc. boosted its position in PNM Resources by 0.6% in the 1st quarter. BlackRock Inc. now owns 11,097,571 shares of the utilities provider’s stock valued at $540,230,000 after buying an additional 68,064 shares during the last quarter. Vanguard Group Inc. boosted its position in PNM Resources by 0.4% in the 3rd quarter. Vanguard Group Inc. now owns 9,379,034 shares of the utilities provider’s stock valued at $418,399,000 after buying an additional 40,253 shares during the last quarter. State Street Corp boosted its position in PNM Resources by 1.5% in the 1st quarter. State Street Corp now owns 3,373,488 shares of the utilities provider’s stock valued at $164,221,000 after buying an additional 49,528 shares during the last quarter. Hudson Bay Capital Management LP boosted its position in shares of PNM Resources by 42.5% in the 3rd quarter. Hudson Bay Capital Management LP now owns 2,670,601 shares of the utilities provider’s stock worth $119,136,000 after purchasing an additional 796,077 shares during the last quarter. Finally, Geode Capital Management LLC boosted its position in shares of PNM Resources by 5.4% in the 1st quarter. Geode Capital Management LLC now owns 1,635,723 shares of the utilities provider’s stock worth $79,627,000 after purchasing an additional 83,654 shares during the last quarter. 91.68% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on PNM. Barclays began coverage on PNM Resources in a research report on Thursday, February 8th. They issued an “overweight” rating and a $40.00 price target on the stock. StockNews.com lowered PNM Resources from a “hold” rating to a “sell” rating in a research report on Wednesday, January 17th. Mizuho lowered PNM Resources from a “buy” rating to a “neutral” rating and set a $41.00 price target on the stock. in a research report on Wednesday, January 3rd. TheStreet lowered PNM Resources from a “b-” rating to a “c+” rating in a research report on Thursday, January 4th. Finally, Wells Fargo & Company upgraded PNM Resources from an “equal weight” rating to an “overweight” rating and set a $44.00 price target on the stock in a research report on Wednesday, January 3rd. One analyst has rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $46.20.

PNM Resources Stock Performance

Shares of PNM Resources stock opened at $36.23 on Monday. The company has a market capitalization of $3.27 billion, a PE ratio of 35.18, a PEG ratio of 0.37 and a beta of 0.35. PNM Resources, Inc. has a 12 month low of $34.63 and a 12 month high of $49.08. The company has a current ratio of 0.39, a quick ratio of 0.31 and a debt-to-equity ratio of 1.77. The stock’s fifty day simple moving average is $37.15 and its 200 day simple moving average is $39.90.

PNM Resources (NYSE:PNM) last issued its quarterly earnings data on Tuesday, February 6th. The utilities provider reported $0.18 EPS for the quarter, topping the consensus estimate of $0.14 by $0.04. The business had revenue of $412.11 million for the quarter, compared to the consensus estimate of $705.05 million. PNM Resources had a return on equity of 10.51% and a net margin of 4.54%. During the same quarter last year, the business posted $0.15 EPS. On average, research analysts predict that PNM Resources, Inc. will post 2.66 EPS for the current year.

PNM Resources Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, May 10th. Shareholders of record on Friday, April 26th will be paid a $0.387 dividend. This represents a $1.55 annualized dividend and a dividend yield of 4.27%. The ex-dividend date is Thursday, April 25th. PNM Resources’s dividend payout ratio is 150.49%.

About PNM Resources

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.