PNM Resources, Inc. (NYSE:PNM) Shares Sold by California Public Employees Retirement System

California Public Employees Retirement System trimmed its holdings in shares of PNM Resources, Inc. (NYSE:PNM) by 1.2% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 539,694 shares of the utilities provider’s stock after selling 6,503 shares during the quarter. California Public Employees Retirement System’s holdings in PNM Resources were worth $22,451,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Calamos Advisors LLC lifted its position in PNM Resources by 32.1% during the fourth quarter. Calamos Advisors LLC now owns 991,028 shares of the utilities provider’s stock valued at $41,227,000 after buying an additional 241,028 shares in the last quarter. Xponance Inc. lifted its position in PNM Resources by 2.9% during the fourth quarter. Xponance Inc. now owns 12,598 shares of the utilities provider’s stock valued at $524,000 after buying an additional 356 shares in the last quarter. River Road Asset Management LLC lifted its position in PNM Resources by 107.9% during the fourth quarter. River Road Asset Management LLC now owns 1,154,420 shares of the utilities provider’s stock valued at $48,024,000 after buying an additional 599,211 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in PNM Resources by 13.1% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 16,488 shares of the utilities provider’s stock valued at $686,000 after buying an additional 1,906 shares in the last quarter. Finally, DGS Capital Management LLC acquired a new position in PNM Resources during the fourth quarter valued at approximately $235,000. 91.68% of the stock is owned by institutional investors and hedge funds.

PNM Resources Stock Performance

PNM opened at $36.32 on Monday. The stock has a market capitalization of $3.28 billion, a PE ratio of 35.26, a P/E/G ratio of 10.04 and a beta of 0.35. The firm’s fifty day moving average price is $37.06 and its 200 day moving average price is $39.37. 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, Inc. has a 12-month low of $34.63 and a 12-month high of $48.71.

PNM Resources (NYSE:PNM) last posted its quarterly earnings results on Tuesday, February 6th. The utilities provider reported $0.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.14 by $0.04. The firm had revenue of $412.11 million for 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 in the prior year, the company posted $0.15 earnings per share. As a group, research analysts expect that PNM Resources, Inc. will post 2.7 EPS for the current fiscal year.

PNM Resources Announces Dividend

The business also recently declared 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. The ex-dividend date of this dividend is Thursday, April 25th. This represents a $1.55 annualized dividend and a yield of 4.26%. PNM Resources’s dividend payout ratio is presently 150.49%.

Analyst Ratings Changes

PNM has been the topic of a number of recent research reports. Mizuho cut shares of 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. Barclays boosted their target price on shares of PNM Resources from $40.00 to $43.00 and gave the stock an “overweight” rating in a research report on Monday, April 15th. TheStreet cut shares of PNM Resources from a “b-” rating to a “c+” rating in a research report on Thursday, January 4th. StockNews.com cut shares of PNM Resources from a “hold” rating to a “sell” rating in a research report on Wednesday, January 17th. Finally, Wells Fargo & Company raised shares of PNM Resources from an “equal weight” rating to an “overweight” rating and set a $44.00 target price on the stock in a research report on Wednesday, January 3rd. One investment analyst has rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $46.80.

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.