Jefferies Financial Group Inc. decreased its holdings in PNM Resources Inc (NYSE:PNM) by 8.6% in the 4th quarter, HoldingsChannel reports. The firm owned 32,485 shares of the utilities provider’s stock after selling 3,068 shares during the period. Jefferies Financial Group Inc.’s holdings in PNM Resources were worth $1,335,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors have also modified their holdings of the company. Menta Capital LLC bought a new stake in PNM Resources during the 4th quarter worth approximately $968,000. Geode Capital Management LLC lifted its position in shares of PNM Resources by 10.3% in the 4th quarter. Geode Capital Management LLC now owns 872,225 shares of the utilities provider’s stock worth $35,839,000 after purchasing an additional 81,603 shares during the period. California State Teachers Retirement System lifted its position in shares of PNM Resources by 3.1% in the 4th quarter. California State Teachers Retirement System now owns 125,591 shares of the utilities provider’s stock worth $5,161,000 after purchasing an additional 3,770 shares during the period. Dimensional Fund Advisors LP lifted its position in shares of PNM Resources by 1.9% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,753,107 shares of the utilities provider’s stock worth $72,035,000 after purchasing an additional 33,289 shares during the period. Finally, United Services Automobile Association lifted its position in shares of PNM Resources by 258.0% in the 4th quarter. United Services Automobile Association now owns 71,995 shares of the utilities provider’s stock worth $2,958,000 after purchasing an additional 51,882 shares during the period. Institutional investors and hedge funds own 90.06% of the company’s stock.
Shares of PNM Resources stock traded up $0.23 during trading on Friday, reaching $46.76. 705 shares of the company traded hands, compared to its average volume of 421,605. The company has a quick ratio of 0.45, a current ratio of 0.59 and a debt-to-equity ratio of 1.52. PNM Resources Inc has a 1-year low of $34.95 and a 1-year high of $47.39. The company has a market capitalization of $3.76 billion, a PE ratio of 23.38, a PEG ratio of 4.74 and a beta of 0.28.
The business also recently announced a quarterly dividend, which will be paid on Thursday, May 16th. Investors of record on Thursday, May 2nd will be given a dividend of $0.29 per share. The ex-dividend date of this dividend is Wednesday, May 1st. This represents a $1.16 dividend on an annualized basis and a dividend yield of 2.48%. PNM Resources’s payout ratio is presently 58.00%.
In related news, VP Joseph Don Tarry sold 1,092 shares of the business’s stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $44.89, for a total transaction of $49,019.88. Following the transaction, the vice president now owns 11,882 shares in the company, valued at approximately $533,382.98. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Patrick V. Apodaca sold 4,800 shares of the business’s stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $44.32, for a total transaction of $212,736.00. Following the transaction, the senior vice president now owns 63,258 shares in the company, valued at approximately $2,803,594.56. The disclosure for this sale can be found here. Insiders have sold a total of 24,953 shares of company stock worth $1,110,564 in the last quarter. 1.25% of the stock is owned by corporate insiders.
A number of brokerages have recently issued reports on PNM. Zacks Investment Research upgraded shares of PNM Resources from a “hold” rating to a “buy” rating and set a $48.00 price target on the stock in a research report on Friday, January 25th. Wells Fargo & Co set a $45.00 price target on shares of PNM Resources and gave the stock a “hold” rating in a research report on Thursday, February 28th. Barclays boosted their price target on shares of PNM Resources from $38.00 to $39.00 and gave the stock a “sell” rating in a research report on Monday, November 19th. Bank of America restated an “underperform” rating and issued a $43.00 price target (up previously from $40.00) on shares of PNM Resources in a research report on Thursday, February 28th. Finally, Mizuho upgraded shares of PNM Resources from an “underperform” rating to a “neutral” rating and boosted their price target for the stock from $42.50 to $43.50 in a research report on Friday, March 8th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $42.75.
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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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