PNM Resources, Inc. (NYSE:PNM) Shares Purchased by Xponance Inc.

Xponance Inc. increased its holdings in shares of PNM Resources, Inc. (NYSE:PNM) by 2.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 12,598 shares of the utilities provider’s stock after buying an additional 356 shares during the quarter. Xponance Inc.’s holdings in PNM Resources were worth $524,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of PNM. International Assets Investment Management LLC grew its stake in shares of PNM Resources by 4,061.5% during the 4th quarter. International Assets Investment Management LLC now owns 1,082 shares of the utilities provider’s stock valued at $45,000 after buying an additional 1,056 shares during the period. Allworth Financial LP grew its holdings in shares of PNM Resources by 59.5% during the 3rd 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 period. Fifth Third Bancorp grew its holdings in shares of PNM Resources by 64.7% during the 3rd quarter. Fifth Third Bancorp now owns 1,100 shares of the utilities provider’s stock worth $49,000 after purchasing an additional 432 shares during the period. Millburn Ridgefield Corp acquired a new position in PNM Resources during the third quarter valued at approximately $66,000. Finally, Catalyst Capital Advisors LLC purchased a new position in shares of PNM Resources in the 3rd quarter valued at $66,000. 91.68% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages recently weighed in on PNM. Wells Fargo & Company raised 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. Mizuho downgraded PNM Resources from a “buy” rating to a “neutral” rating and set a $41.00 target price for the company. in a research note on Wednesday, January 3rd. Barclays raised their price objective on PNM Resources from $40.00 to $43.00 and gave the company an “overweight” rating in a research note on Monday, April 15th. StockNews.com cut PNM Resources from a “hold” rating to a “sell” rating in a research note on Wednesday, January 17th. Finally, TheStreet lowered shares of PNM Resources from a “b-” rating to a “c+” rating in a research note on Thursday, January 4th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $46.80.

PNM Resources Price Performance

Shares of PNM opened at $36.32 on Friday. PNM Resources, Inc. has a 52 week low of $34.63 and a 52 week high of $48.71. 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 firm has a market cap of $3.28 billion, a price-to-earnings ratio of 35.26, a PEG ratio of 10.12 and a beta of 0.35. The stock has a 50 day moving average of $37.06 and a 200-day moving average of $39.43.

PNM Resources (NYSE:PNM) last released its earnings results on Tuesday, February 6th. The utilities provider reported $0.18 earnings per share for the quarter, beating the consensus estimate of $0.14 by $0.04. PNM Resources had a net margin of 4.54% and a return on equity of 10.51%. The firm had revenue of $412.11 million during the quarter, compared to analyst estimates of $705.05 million. During the same quarter in the previous year, the firm earned $0.15 earnings per share. As a group, analysts forecast that PNM Resources, Inc. will post 2.7 EPS for the current year.

PNM Resources Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 10th. Shareholders of record on Friday, April 26th will be issued a $0.387 dividend. The ex-dividend date of this dividend is Thursday, April 25th. This represents a $1.55 dividend on an annualized basis and a yield of 4.26%. PNM Resources’s dividend payout ratio is currently 150.49%.

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.