Strs Ohio Sells 21,400 Shares of PNM Resources, Inc. (NYSE:PNM)

Strs Ohio reduced its stake in shares of PNM Resources, Inc. (NYSE:PNM) by 78.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,000 shares of the utilities provider’s stock after selling 21,400 shares during the quarter. Strs Ohio’s holdings in PNM Resources were worth $249,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Vanguard Group Inc. lifted its holdings in PNM Resources by 0.4% during the 3rd quarter. Vanguard Group Inc. now owns 9,379,034 shares of the utilities provider’s stock worth $418,399,000 after buying an additional 40,253 shares in the last quarter. Hudson Bay Capital Management LP lifted its stake in shares of PNM Resources by 42.5% during the third quarter. Hudson Bay Capital Management LP now owns 2,670,601 shares of the utilities provider’s stock valued at $119,136,000 after acquiring an additional 796,077 shares during the period. Alpha Wave Global LP boosted its holdings in PNM Resources by 82.3% in the third quarter. Alpha Wave Global LP now owns 1,273,853 shares of the utilities provider’s stock valued at $56,827,000 after acquiring an additional 575,012 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund increased its position in PNM Resources by 73.0% in the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,272,800 shares of the utilities provider’s stock worth $56,780,000 after purchasing an additional 536,900 shares during the period. Finally, Bank of New York Mellon Corp increased its stake in PNM Resources by 23.4% in the third quarter. Bank of New York Mellon Corp now owns 1,253,239 shares of the utilities provider’s stock valued at $55,907,000 after purchasing an additional 237,654 shares in the last quarter. Institutional investors and hedge funds own 91.68% of the company’s stock.

PNM Resources Stock Up 2.1 %

PNM stock opened at $37.09 on Tuesday. The company has a debt-to-equity ratio of 1.77, a current ratio of 0.39 and a quick ratio of 0.31. The stock has a market capitalization of $3.35 billion, a P/E ratio of 36.01, a P/E/G ratio of 10.04 and a beta of 0.35. PNM Resources, Inc. has a fifty-two week low of $34.63 and a fifty-two week high of $48.71. The business has a 50-day moving average of $37.06 and a 200-day moving average of $39.32.

PNM Resources (NYSE:PNM) last released its quarterly earnings results on Tuesday, February 6th. The utilities provider reported $0.18 earnings per share for the quarter, topping analysts’ consensus estimates of $0.14 by $0.04. PNM Resources had a return on equity of 10.51% and a net margin of 4.54%. The firm had revenue of $412.11 million during the quarter, compared to the consensus estimate of $705.05 million. During the same quarter in the prior year, the firm posted $0.15 EPS. On average, sell-side analysts anticipate that PNM Resources, Inc. will post 2.7 earnings per share for the current fiscal year.

PNM Resources Announces Dividend

The firm 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. The ex-dividend date of this dividend is Thursday, April 25th. This represents a $1.55 annualized dividend and a yield of 4.17%. PNM Resources’s payout ratio is currently 150.49%.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on PNM. Barclays boosted their price target on shares of PNM Resources from $40.00 to $43.00 and gave the company an “overweight” rating in a report on Monday, April 15th. TheStreet lowered PNM Resources from a “b-” rating to a “c+” rating in a research report on Thursday, January 4th. Mizuho lowered PNM Resources from a “buy” rating to a “neutral” rating and set a $41.00 price objective for the company. in a research report on Wednesday, January 3rd. StockNews.com cut PNM Resources from a “hold” rating to a “sell” rating in a research note 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 price target on the stock in a research note on Wednesday, January 3rd. One equities research 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 data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $46.80.

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.