GWM Advisors LLC increased its position in shares of PNM Resources Inc (NYSE:PNM) by 0.5% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 41,917 shares of the utilities provider’s stock after acquiring an additional 228 shares during the quarter. GWM Advisors LLC owned 0.05% of PNM Resources worth $2,134,000 as of its most recent SEC filing.
Other hedge funds have also recently added to or reduced their stakes in the company. TRUE Private Wealth Advisors acquired a new stake in shares of PNM Resources during the second quarter valued at approximately $28,000. Osborn Williams & Donohoe LLC acquired a new stake in shares of PNM Resources during the first quarter valued at approximately $69,000. Trust Co. of Vermont raised its holdings in shares of PNM Resources by 411.0% during the second quarter. Trust Co. of Vermont now owns 1,865 shares of the utilities provider’s stock valued at $95,000 after acquiring an additional 1,500 shares during the period. Quadrant Capital Group LLC increased its stake in PNM Resources by 1,004.6% in the 1st quarter. Quadrant Capital Group LLC now owns 2,176 shares of the utilities provider’s stock valued at $100,000 after buying an additional 1,979 shares during the period. Finally, Meeder Asset Management Inc. acquired a new position in PNM Resources in the 1st quarter valued at approximately $123,000. Institutional investors and hedge funds own 89.48% of the company’s stock.
PNM Resources stock traded down $0.09 during trading hours on Tuesday, hitting $50.55. The company had a trading volume of 42,616 shares, compared to its average volume of 380,756. The firm has a market capitalization of $4.06 billion, a P/E ratio of 25.28, a price-to-earnings-growth ratio of 4.48 and a beta of 0.24. The company has a debt-to-equity ratio of 1.67, a current ratio of 0.45 and a quick ratio of 0.34. The firm’s fifty day moving average is $50.20 and its 200-day moving average is $47.48. PNM Resources Inc has a fifty-two week low of $37.67 and a fifty-two week high of $52.10.
PNM Resources (NYSE:PNM) last released its quarterly earnings data on Friday, August 2nd. The utilities provider reported $0.37 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.37. The firm had revenue of $330.23 million for the quarter. PNM Resources had a negative net margin of 1.69% and a positive return on equity of 8.08%. Analysts anticipate that PNM Resources Inc will post 2.08 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, August 16th. Shareholders of record on Tuesday, August 6th were given a $0.29 dividend. This represents a $1.16 annualized dividend and a yield of 2.29%. The ex-dividend date of this dividend was Monday, August 5th. PNM Resources’s dividend payout ratio is 58.00%.
Several research firms have weighed in on PNM. Wells Fargo & Co set a $52.00 price objective on shares of PNM Resources and gave the company a “hold” rating in a research note on Monday, July 15th. UBS Group upgraded shares of PNM Resources from a “sell” rating to a “neutral” rating and set a $49.15 price objective on the stock in a research note on Wednesday, June 12th. Zacks Investment Research lowered shares of PNM Resources from a “hold” rating to a “sell” rating in a research note on Wednesday, July 31st. Bank of America upgraded shares of PNM Resources from an “underperform” rating to a “neutral” rating and set a $48.00 price objective on the stock in a research note on Thursday, April 25th. Finally, Mizuho upped their price objective on shares of PNM Resources from $52.50 to $54.00 and gave the company a “buy” rating in a research note on Monday, July 15th. Three research analysts have rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $50.19.
PNM Resources 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.
See Also: Outstanding Shares
Want to see what other hedge funds are holding PNM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for PNM Resources Inc (NYSE:PNM).
Receive News & Ratings for PNM Resources Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PNM Resources and related companies with MarketBeat.com's FREE daily email newsletter.