Dimensional Fund Advisors LP Has $64.25 Million Stock Holdings in PNM Resources, Inc. (NYSE:PNM)

Dimensional Fund Advisors LP lifted its position in shares of PNM Resources, Inc. (NYSE:PNMFree Report) by 3.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,544,429 shares of the utilities provider’s stock after purchasing an additional 47,260 shares during the period. Dimensional Fund Advisors LP owned 1.80% of PNM Resources worth $64,248,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of PNM. Hudson Bay Capital Management LP increased its stake in shares of PNM Resources by 42.5% during 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. River Road Asset Management LLC increased its stake in shares of PNM Resources by 107.9% during the 4th quarter. River Road Asset Management LLC now owns 1,154,420 shares of the utilities provider’s stock worth $48,024,000 after purchasing an additional 599,211 shares during the last quarter. Alpha Wave Global LP increased its stake in shares of PNM Resources by 82.3% during the 3rd quarter. Alpha Wave Global LP now owns 1,273,853 shares of the utilities provider’s stock worth $56,827,000 after purchasing an additional 575,012 shares during the last quarter. Walleye Capital LLC acquired a new position in shares of PNM Resources during the 3rd quarter worth about $24,754,000. Finally, Healthcare of Ontario Pension Plan Trust Fund grew its stake in PNM Resources by 73.0% in the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,272,800 shares of the utilities provider’s stock valued at $56,780,000 after buying an additional 536,900 shares during the last quarter. 91.68% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, Barclays upped their price target on shares of PNM Resources from $40.00 to $43.00 and gave the company an “overweight” rating in a research note on Monday, April 15th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, PNM Resources has a consensus rating of “Hold” and a consensus price target of $44.75.

Get Our Latest Report on PNM Resources

PNM Resources Stock Up 1.1 %

Shares of PNM opened at $37.23 on Monday. PNM Resources, Inc. has a 52 week low of $34.63 and a 52 week high of $46.94. The firm has a market cap of $3.36 billion, a P/E ratio of 40.91, a price-to-earnings-growth ratio of 5.43 and a beta of 0.35. The firm’s 50-day simple moving average is $37.27 and its 200 day simple moving average is $38.59. The company has a debt-to-equity ratio of 1.81, a quick ratio of 0.27 and a current ratio of 0.37.

PNM Resources (NYSE:PNMGet Free Report) last announced its quarterly earnings results on Tuesday, April 30th. The utilities provider reported $0.41 EPS for the quarter, missing analysts’ consensus estimates of $0.68 by ($0.27). PNM Resources had a net margin of 4.38% and a return on equity of 9.91%. The company had revenue of $436.90 million during the quarter, compared to analyst estimates of $531.00 million. During the same quarter last year, the company posted $0.55 EPS. The firm’s quarterly revenue was down 19.7% on a year-over-year basis. On average, analysts forecast that PNM Resources, Inc. will post 2.7 earnings per share for the current year.

PNM Resources Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, May 10th. Shareholders of record on Friday, April 26th were given a dividend of $0.387 per share. The ex-dividend date was Thursday, April 25th. This represents a $1.55 dividend on an annualized basis and a dividend yield of 4.16%. PNM Resources’s payout ratio is presently 170.33%.

PNM Resources Profile

(Free Report)

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.

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Institutional Ownership by Quarter for PNM Resources (NYSE:PNM)

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