Bailard Inc. Buys Shares of 12,400 PNM Resources, Inc. (NYSE:PNM)

Bailard Inc. purchased a new stake in shares of PNM Resources, Inc. (NYSE:PNM) in the fourth quarter, according to its most recent filing with the SEC. The firm purchased 12,400 shares of the utilities provider’s stock, valued at approximately $516,000.

Other institutional investors have also modified their holdings of the company. Hudson Bay Capital Management LP raised its holdings in PNM Resources by 42.5% during the third quarter. Hudson Bay Capital Management LP now owns 2,670,601 shares of the utilities provider’s stock worth $119,136,000 after purchasing an additional 796,077 shares during the last quarter. River Road Asset Management LLC raised its stake in shares of PNM Resources by 107.9% during the 4th quarter. River Road Asset Management LLC now owns 1,154,420 shares of the utilities provider’s stock worth $48,024,000 after buying an additional 599,211 shares during the last quarter. Alpha Wave Global LP boosted its position in shares of PNM Resources by 82.3% in the 3rd quarter. Alpha Wave Global LP now owns 1,273,853 shares of the utilities provider’s stock worth $56,827,000 after buying an additional 575,012 shares in the last quarter. Walleye Capital LLC acquired a new stake in PNM Resources in the 3rd quarter valued at about $24,754,000. Finally, Healthcare of Ontario Pension Plan Trust Fund increased its holdings in PNM Resources by 73.0% during the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,272,800 shares of the utilities provider’s stock valued at $56,780,000 after acquiring an additional 536,900 shares in the last quarter. Hedge funds and other institutional investors own 91.68% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on PNM shares. TheStreet downgraded shares of PNM Resources from a “b-” rating to a “c+” rating in a report on Thursday, January 4th. Mizuho lowered PNM Resources from a “buy” rating to a “neutral” rating and set a $41.00 target price on the stock. in a research note on Wednesday, January 3rd. StockNews.com cut PNM Resources from a “hold” rating to a “sell” rating in a report on Wednesday, January 17th. Wells Fargo & Company raised PNM Resources from an “equal weight” rating to an “overweight” rating and set a $44.00 price target for the company in a report on Wednesday, January 3rd. Finally, Barclays increased their price objective on PNM Resources from $40.00 to $43.00 and gave the company an “overweight” rating in a research note on Monday, April 15th. One analyst has rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $46.80.

PNM Resources Stock Performance

Shares of PNM opened at $36.32 on Friday. PNM Resources, Inc. has a fifty-two week low of $34.63 and a fifty-two week high of $48.71. The company has a market capitalization of $3.28 billion, a PE ratio of 35.26, a price-to-earnings-growth ratio of 10.04 and a beta of 0.35. The stock has a fifty day moving average of $37.06 and a two-hundred day moving average of $39.40. The company has a debt-to-equity ratio of 1.77, a quick ratio of 0.31 and a current ratio of 0.39.

PNM Resources (NYSE:PNM) last released its earnings results on Tuesday, February 6th. The utilities provider reported $0.18 EPS for the quarter, beating the consensus estimate of $0.14 by $0.04. PNM Resources had a return on equity of 10.51% and a net margin of 4.54%. The firm had revenue of $412.11 million during the quarter, compared to analyst estimates of $705.05 million. During the same period in the prior year, the firm posted $0.15 earnings per share. As a group, analysts forecast that PNM Resources, Inc. will post 2.7 EPS for the current year.

PNM Resources Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 10th. Stockholders of record on Friday, April 26th will be issued a dividend of $0.387 per share. The ex-dividend date is Thursday, April 25th. This represents a $1.55 annualized dividend and a dividend yield of 4.26%. PNM Resources’s payout ratio is currently 150.49%.

PNM Resources Company Profile

PNM Resources, Inc, through its subsidiaries, provides electricity and electric services 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 engages in the generation, transmission, and distribution of electricity.