Matarin Capital Management LLC Acquires Shares of 241,369 PNM Resources (PNM)

Matarin Capital Management LLC acquired a new stake in PNM Resources (NYSE:PNM) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 241,369 shares of the utilities provider’s stock, valued at approximately $9,232,000. Matarin Capital Management LLC owned approximately 0.30% of PNM Resources at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Koch Industries Inc. acquired a new stake in PNM Resources in the 4th quarter valued at about $354,000. Teacher Retirement System of Texas increased its position in PNM Resources by 315.8% in the 4th quarter. Teacher Retirement System of Texas now owns 27,307 shares of the utilities provider’s stock valued at $1,105,000 after acquiring an additional 20,739 shares in the last quarter. Lazard Asset Management LLC increased its position in PNM Resources by 36.3% in the 4th quarter. Lazard Asset Management LLC now owns 445,740 shares of the utilities provider’s stock valued at $18,029,000 after acquiring an additional 118,715 shares in the last quarter. Swiss National Bank increased its position in PNM Resources by 2.0% in the 4th quarter. Swiss National Bank now owns 135,700 shares of the utilities provider’s stock valued at $5,489,000 after acquiring an additional 2,600 shares in the last quarter. Finally, James Investment Research Inc. increased its position in PNM Resources by 15.6% in the 4th quarter. James Investment Research Inc. now owns 223,574 shares of the utilities provider’s stock valued at $9,043,000 after acquiring an additional 30,172 shares in the last quarter. Hedge funds and other institutional investors own 90.67% of the company’s stock.

PNM has been the subject of several research reports. SunTrust Banks restated a “hold” rating and issued a $37.00 price objective on shares of PNM Resources in a research report on Monday, April 2nd. Zacks Investment Research upgraded shares of PNM Resources from a “sell” rating to a “hold” rating in a research report on Tuesday, February 13th. Wells Fargo & Co set a $38.00 target price on shares of PNM Resources and gave the company a “hold” rating in a research note on Wednesday, February 28th. ValuEngine lowered shares of PNM Resources from a “buy” rating to a “hold” rating in a research note on Wednesday, May 2nd. Finally, UBS started coverage on shares of PNM Resources in a research note on Friday, February 2nd. They issued a “sell” rating and a $36.00 target price on the stock. Four investment analysts have rated the stock with a sell rating, nine have given a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company. PNM Resources presently has an average rating of “Hold” and an average target price of $38.91.

In other news, CFO Charles N. Eldred sold 1,500 shares of the company’s stock in a transaction that occurred on Friday, March 2nd. The shares were sold at an average price of $35.55, for a total value of $53,325.00. Following the completion of the sale, the chief financial officer now directly owns 115,888 shares of the company’s stock, valued at approximately $4,119,818.40. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Ronald N. Darnell sold 3,162 shares of the company’s stock in a transaction that occurred on Monday, March 5th. The stock was sold at an average price of $35.95, for a total transaction of $113,673.90. Following the completion of the sale, the senior vice president now directly owns 29,726 shares of the company’s stock, valued at $1,068,649.70. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 7,616 shares of company stock valued at $272,457. Company insiders own 1.26% of the company’s stock.

Shares of NYSE PNM opened at $38.95 on Thursday. PNM Resources has a 1 year low of $33.75 and a 1 year high of $46.00. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.27 and a current ratio of 0.35. The stock has a market capitalization of $3.06 billion, a PE ratio of 20.08, a price-to-earnings-growth ratio of 4.01 and a beta of 0.25.

PNM Resources (NYSE:PNM) last issued its earnings results on Tuesday, February 27th. The utilities provider reported $0.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.19 by $0.05. PNM Resources had a net margin of 5.03% and a return on equity of 8.41%. The business had revenue of $332.61 million for the quarter, compared to analyst estimates of $330.25 million. During the same quarter in the prior year, the business posted $0.34 EPS. analysts expect that PNM Resources will post 1.87 EPS for the current year.

The business also recently declared a quarterly dividend, which was paid on Wednesday, May 16th. Stockholders of record on Wednesday, May 2nd were paid a $0.265 dividend. This represents a $1.06 dividend on an annualized basis and a dividend yield of 2.72%. The ex-dividend date was Tuesday, May 1st. PNM Resources’s dividend payout ratio is currently 54.64%.

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.

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

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