Louisiana State Employees Retirement System lowered its position in PNM Resources Inc. (NYSE:PNM) by 4.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 21,200 shares of the company’s stock after selling 900 shares during the period. Louisiana State Employees Retirement System’s holdings in PNM Resources were worth $751,000 as of its most recent SEC filing.
Other institutional investors have also modified their holdings of the company. Meeder Asset Management Inc. increased its position in shares of PNM Resources by 514.3% in the first quarter. Meeder Asset Management Inc. now owns 3,686 shares of the company’s stock worth $124,000 after buying an additional 3,086 shares in the last quarter. State Street Corp increased its position in shares of PNM Resources by 1.8% in the first quarter. State Street Corp now owns 2,726,625 shares of the company’s stock worth $91,943,000 after buying an additional 49,025 shares in the last quarter. NWQ Investment Management Company LLC acquired a new position in shares of PNM Resources during the first quarter worth about $28,637,000. Mesirow Financial Investment Management US Value Equity increased its position in shares of PNM Resources by 34.5% in the first quarter. Mesirow Financial Investment Management US Value Equity now owns 30,968 shares of the company’s stock worth $1,044,000 after buying an additional 7,947 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its position in shares of PNM Resources by 0.8% in the first quarter. JPMorgan Chase & Co. now owns 435,267 shares of the company’s stock worth $14,678,000 after buying an additional 3,546 shares in the last quarter. Institutional investors own 92.60% of the company’s stock.
PNM Resources Inc. (NYSE:PNM) traded up 1.80% during trading on Monday, hitting $31.72. The stock had a trading volume of 630,192 shares. PNM Resources Inc. has a 12-month low of $26.56 and a 12-month high of $36.15. The stock’s 50 day moving average price is $32.59 and its 200 day moving average price is $33.12. The firm has a market cap of $2.53 billion, a P/E ratio of 348.57 and a beta of 0.38.
PNM Resources (NYSE:PNM) last issued its quarterly earnings results on Monday, August 8th. The company reported $0.40 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.39 by $0.01. The firm had revenue of $315.39 million for the quarter, compared to analysts’ expectations of $379 million. PNM Resources had a return on equity of 7.00% and a net margin of 0.54%. The firm’s revenue for the quarter was down 10.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.44 EPS. On average, analysts anticipate that PNM Resources Inc. will post $1.58 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Monday, November 14th. Investors of record on Monday, October 31st will be given a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 2.77%. The ex-dividend date is Thursday, October 27th. PNM Resources’s dividend payout ratio (DPR) is presently 1,100.00%.
A number of brokerages have issued reports on PNM. Williams Capital reiterated a “hold” rating on shares of PNM Resources in a research report on Wednesday, September 21st. SunTrust Banks Inc. increased their price target on PNM Resources from $34.00 to $35.00 and gave the stock a “neutral” rating in a research report on Monday, September 26th. Argus lowered their price target on PNM Resources from $40.00 to $38.00 and set a “buy” rating on the stock in a research report on Thursday, September 22nd. Jefferies Group reiterated a “hold” rating on shares of PNM Resources in a research report on Monday, July 18th. Finally, Zacks Investment Research upgraded PNM Resources from a “sell” rating to a “hold” rating in a research report on Wednesday, September 28th. Three analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. PNM Resources has an average rating of “Buy” and an average target price of $36.21.
PNM Resources Company Profile
PNM Resources, Inc (PNMR) is an investor-owned holding company with approximately two regulated utilities providing electricity and electric services in New Mexico and Texas. PNMR’s electric utilities are Public Service Company of New Mexico and Subsidiaries (PNM) and Texas-New Mexico Power Company and Subsidiaries (TNMP).
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