Nisa Investment Advisors LLC Boosts Stake in PNM Resources, Inc. (NYSE:PNM)

Nisa Investment Advisors LLC lifted its holdings in PNM Resources, Inc. (NYSE:PNM) by 6.5% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 34,225 shares of the utilities provider’s stock after purchasing an additional 2,095 shares during the period. Nisa Investment Advisors LLC’s holdings in PNM Resources were worth $1,424,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Arizona State Retirement System lifted its stake in shares of PNM Resources by 1.4% in the third quarter. Arizona State Retirement System now owns 23,217 shares of the utilities provider’s stock worth $1,036,000 after buying an additional 313 shares in the last quarter. Franklin Resources Inc. increased its position in PNM Resources by 2.1% during the second quarter. Franklin Resources Inc. now owns 16,128 shares of the utilities provider’s stock worth $727,000 after purchasing an additional 338 shares during the last quarter. Captrust Financial Advisors increased its position in PNM Resources by 14.8% during the first quarter. Captrust Financial Advisors now owns 2,626 shares of the utilities provider’s stock worth $125,000 after purchasing an additional 339 shares during the last quarter. Massachusetts Financial Services Co. MA increased its position in PNM Resources by 0.9% during the third quarter. Massachusetts Financial Services Co. MA now owns 44,588 shares of the utilities provider’s stock worth $1,989,000 after purchasing an additional 400 shares during the last quarter. Finally, Allworth Financial LP increased its position in PNM Resources by 59.5% during the third quarter. Allworth Financial LP now owns 1,088 shares of the utilities provider’s stock worth $49,000 after purchasing an additional 406 shares during the last quarter. 91.68% of the stock is owned by hedge funds and other institutional investors.

PNM Resources Price Performance

Shares of PNM opened at $36.23 on Monday. PNM Resources, Inc. has a 1-year low of $34.63 and a 1-year high of $49.08. The stock has a market cap of $3.27 billion, a PE ratio of 35.18, a P/E/G ratio of 0.37 and a beta of 0.35. The firm has a 50-day simple moving average of $37.15 and a two-hundred day simple moving average of $39.90. The company has a debt-to-equity ratio of 1.77, a current ratio of 0.39 and a quick ratio of 0.31.

PNM Resources (NYSE:PNM) last announced its quarterly earnings results on Tuesday, February 6th. The utilities provider reported $0.18 earnings per share for the quarter, beating analysts’ consensus estimates of $0.14 by $0.04. The business had revenue of $412.11 million during the quarter, compared to analysts’ expectations of $705.05 million. PNM Resources had a net margin of 4.54% and a return on equity of 10.51%. During the same period last year, the business earned $0.15 earnings per share. As a group, analysts forecast that PNM Resources, Inc. will post 2.66 EPS for the current year.

PNM Resources Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 10th. Investors of record on Friday, April 26th will be issued a $0.387 dividend. This represents a $1.55 dividend on an annualized basis and a dividend yield of 4.27%. The ex-dividend date is Thursday, April 25th. PNM Resources’s dividend payout ratio (DPR) is currently 150.49%.

Wall Street Analyst Weigh In

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

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.