PNM Resources Inc (PNM) Position Boosted by Geode Capital Management LLC

Geode Capital Management LLC increased its position in shares of PNM Resources Inc (NYSE:PNM) by 6.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 706,326 shares of the utilities provider’s stock after buying an additional 45,841 shares during the period. Geode Capital Management LLC owned 0.89% of PNM Resources worth $28,570,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in PNM Resources by 41.1% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,807 shares of the utilities provider’s stock worth $194,000 after buying an additional 1,399 shares during the last quarter. Parametrica Management Ltd acquired a new position in PNM Resources during the fourth quarter worth $200,000. Signition LP acquired a new position in PNM Resources during the fourth quarter worth $223,000. Acadian Asset Management LLC acquired a new position in PNM Resources during the fourth quarter worth $229,000. Finally, First Washington CORP acquired a new position in PNM Resources during the fourth quarter worth $231,000. Institutional investors and hedge funds own 91.79% of the company’s stock.

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Several equities analysts have commented on PNM shares. Zacks Investment Research downgraded shares of PNM Resources from a “buy” rating to a “hold” rating in a report on Tuesday, December 26th. Mizuho upgraded shares of PNM Resources from an “underperform” rating to a “neutral” rating and set a $37.00 price objective on the stock in a report on Tuesday, January 23rd. SunTrust Banks set a $38.00 price objective on shares of PNM Resources and gave the company a “hold” rating in a report on Wednesday, January 3rd. Finally, Wells Fargo set a $38.00 price objective on shares of PNM Resources and gave the company a “hold” rating in a report on Wednesday, February 28th. Four investment analysts have rated the stock with a sell rating, eight have issued a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $38.66.

In other news, SVP Ronald N. Darnell sold 3,162 shares of the business’s stock in a transaction dated Monday, March 5th. The shares were sold at an average price of $35.95, for a total value of $113,673.90. Following the completion of the sale, the senior vice president now owns 29,726 shares of the company’s stock, valued at $1,068,649.70. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Joseph Don Tarry sold 2,954 shares of the business’s stock in a transaction dated Monday, March 5th. The shares were sold at an average price of $35.70, for a total transaction of $105,457.80. Following the completion of the sale, the vice president now directly owns 13,845 shares of the company’s stock, valued at approximately $494,266.50. The disclosure for this sale can be found here. In the last three months, insiders sold 7,616 shares of company stock valued at $272,457. 1.26% of the stock is currently owned by company insiders.

PNM stock opened at $36.45 on Friday. PNM Resources Inc has a fifty-two week low of $33.75 and a fifty-two week high of $46.00. The company has a market cap of $2,947.18, a price-to-earnings ratio of 36.45, a price-to-earnings-growth ratio of 3.45 and a beta of 0.34. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.35 and a quick ratio of 0.27.

PNM Resources (NYSE:PNM) last announced its earnings results on Tuesday, February 27th. The utilities provider reported $0.24 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.19 by $0.05. The company had revenue of $332.61 million during the quarter, compared to analysts’ expectations of $330.25 million. PNM Resources had a net margin of 5.55% and a return on equity of 8.71%. During the same quarter in the previous year, the business posted $0.34 earnings per share. equities research analysts predict that PNM Resources Inc will post 1.86 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 16th. Stockholders of record on Wednesday, May 2nd will be given a $0.265 dividend. The ex-dividend date is Tuesday, May 1st. This represents a $1.06 dividend on an annualized basis and a dividend yield of 2.91%. PNM Resources’s payout ratio is presently 106.00%.

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PNM Resources Company Profile

PNM Resources, Inc, through its subsidiaries, engages in the energy and energy-related businesses 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 is primarily involved 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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