Segall Bryant & Hamill LLC reduced its stake in shares of PNM Resources, Inc. (Holding Co.) (NYSE:PNM) by 2.2% during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 103,192 shares of the utilities provider’s stock after selling 2,315 shares during the period. Segall Bryant & Hamill LLC owned approximately 0.13% of PNM Resources worth $4,159,000 as of its most recent filing with the SEC.
A number of other hedge funds also recently made changes to their positions in PNM. IFP Advisors Inc raised its holdings in PNM Resources by 42.2% during the 2nd quarter. IFP Advisors Inc now owns 4,247 shares of the utilities provider’s stock worth $162,000 after buying an additional 1,260 shares during the period. Flinton Capital Management LLC grew its stake in shares of PNM Resources by 71.4% during the 2nd quarter. Flinton Capital Management LLC now owns 4,416 shares of the utilities provider’s stock worth $169,000 after acquiring an additional 1,840 shares in the last quarter. Meeder Asset Management Inc. bought a new position in shares of PNM Resources during the 3rd quarter worth approximately $170,000. US Bancorp DE grew its stake in shares of PNM Resources by 23.7% during the 2nd quarter. US Bancorp DE now owns 4,716 shares of the utilities provider’s stock worth $181,000 after acquiring an additional 905 shares in the last quarter. Finally, World Asset Management Inc bought a new position in shares of PNM Resources during the 3rd quarter worth approximately $206,000. Hedge funds and other institutional investors own 92.55% of the company’s stock.
PNM Resources, Inc. (NYSE:PNM) traded up $0.30 during trading hours on Friday, hitting $45.10. 700,520 shares of the company traded hands, compared to its average volume of 471,146. PNM Resources, Inc. has a twelve month low of $32.25 and a twelve month high of $46.00. The company has a quick ratio of 0.43, a current ratio of 0.53 and a debt-to-equity ratio of 1.25. The company has a market capitalization of $3,592.40, a PE ratio of 22.11, a PEG ratio of 4.43 and a beta of 0.36.
The company also recently announced a quarterly dividend, which will be paid on Thursday, February 1st. Investors of record on Thursday, January 18th will be paid a $0.265 dividend. The ex-dividend date is Wednesday, January 17th. This is a boost from PNM Resources’s previous quarterly dividend of $0.24. This represents a $1.06 annualized dividend and a dividend yield of 2.35%. PNM Resources’s dividend payout ratio (DPR) is currently 48.74%.
Several equities analysts have recently weighed in on PNM shares. Ladenburg Thalmann Financial Services cut shares of PNM Resources from a “buy” rating to a “neutral” rating and set a $41.00 price target for the company. in a research note on Friday, August 18th. Royal Bank Of Canada cut shares of PNM Resources from an “outperform” rating to a “sector perform” rating in a research note on Friday, August 18th. Jefferies Group reaffirmed a “hold” rating and set a $43.00 price target on shares of PNM Resources in a research note on Thursday, August 31st. KeyCorp reaffirmed a “hold” rating on shares of PNM Resources in a research note on Friday, September 1st. Finally, ValuEngine raised shares of PNM Resources from a “hold” rating to a “buy” rating in a research note on Thursday, September 7th. Four equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $39.74.
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About PNM Resources
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 (PNM) and Texas-New Mexico Power Company (TNMP). It operates in three segments: PNM, TNMP, and Corporate and Other.
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