Chicago Equity Partners LLC trimmed its stake in PNM Resources Inc (NYSE:PNM) by 4.0% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 160,700 shares of the utilities provider’s stock after selling 6,750 shares during the period. Chicago Equity Partners LLC owned 0.20% of PNM Resources worth $6,340,000 at the end of the most recent reporting period.
Several other large investors also recently bought and sold shares of the company. Royal Bank of Canada increased its stake in PNM Resources by 71.7% in the 1st quarter. Royal Bank of Canada now owns 20,792 shares of the utilities provider’s stock worth $794,000 after buying an additional 8,685 shares in the last quarter. Allianz Asset Management GmbH increased its stake in PNM Resources by 631.7% in the 1st quarter. Allianz Asset Management GmbH now owns 223,783 shares of the utilities provider’s stock worth $8,560,000 after buying an additional 193,201 shares in the last quarter. Dalton Greiner Hartman Maher & Co. purchased a new stake in PNM Resources in the 2nd quarter worth $323,000. Fox Run Management L.L.C. purchased a new stake in PNM Resources in the 2nd quarter worth $878,000. Finally, Nisa Investment Advisors LLC increased its stake in PNM Resources by 5.6% in the 2nd quarter. Nisa Investment Advisors LLC now owns 50,640 shares of the utilities provider’s stock worth $1,970,000 after buying an additional 2,700 shares in the last quarter. Hedge funds and other institutional investors own 90.90% of the company’s stock.
PNM has been the subject of a number of analyst reports. Zacks Investment Research upgraded PNM Resources from a “hold” rating to a “buy” rating and set a $44.00 price target for the company in a research note on Thursday, August 2nd. Bank of America cut their price target on PNM Resources from $38.00 to $36.00 and set an “underperform” rating for the company in a research note on Tuesday, October 16th. Finally, Barclays initiated coverage on PNM Resources in a research note on Tuesday, July 10th. They issued an “underweight” rating and a $37.00 price target for the company. Three research analysts have rated the stock with a sell rating, five have issued a hold rating and one has assigned a strong buy rating to the stock. The company has an average rating of “Hold” and an average price target of $38.25.
PNM Resources (NYSE:PNM) last issued its quarterly earnings data on Tuesday, November 6th. The utilities provider reported $1.08 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.04 by $0.04. PNM Resources had a return on equity of 8.58% and a net margin of 5.12%. During the same quarter last year, the business earned $0.93 earnings per share. Analysts anticipate that PNM Resources Inc will post 1.95 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 16th. Stockholders of record on Friday, November 2nd will be given a dividend of $0.265 per share. The ex-dividend date of this dividend is Thursday, November 1st. This represents a $1.06 dividend on an annualized basis and a dividend yield of 2.69%. PNM Resources’s payout ratio is 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.
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