PNM Resources Inc (PNM) Shares Bought by Louisiana State Employees Retirement System
Louisiana State Employees Retirement System boosted its stake in PNM Resources Inc (NYSE:PNM) by 2.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 20,100 shares of the utilities provider’s stock after buying an additional 400 shares during the period. Louisiana State Employees Retirement System’s holdings in PNM Resources were worth $744,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Elkfork Partners LLC bought a new stake in shares of PNM Resources during the fourth quarter worth about $181,000. Capstone Asset Management Co. boosted its stake in PNM Resources by 1.5% in the first quarter. Capstone Asset Management Co. now owns 6,956 shares of the utilities provider’s stock valued at $257,000 after buying an additional 100 shares during the last quarter. Americafirst Capital Management LLC acquired a new stake in PNM Resources during the first quarter valued at $548,000. Blenheim Capital Management BV acquired a new stake in PNM Resources during the fourth quarter valued at $1,144,000. Finally, BlackRock Inc. boosted its position in shares of PNM Resources by 5.5% in the third quarter. BlackRock Inc. now owns 50,744 shares of the utilities provider’s stock worth $1,661,000 after buying an additional 2,667 shares in the last quarter. Institutional investors own 93.48% of the company’s stock.
PNM Resources Inc (NYSE:PNM) traded down 0.55% on Friday, hitting $36.25. The stock had a trading volume of 104,501 shares. The stock’s 50-day moving average is $37.33 and its 200 day moving average is $35.02. PNM Resources Inc has a 1-year low of $30.95 and a 1-year high of $38.39. The firm has a market capitalization of $2.89 billion, a price-to-earnings ratio of 22.39 and a beta of 0.30.
PNM Resources (NYSE:PNM) last issued its earnings results on Friday, April 28th. The utilities provider reported $0.28 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.24 by $0.04. The company had revenue of $330.20 million during the quarter. PNM Resources had a return on equity of 7.14% and a net margin of 0.07%. The business’s revenue was up 6.2% on a year-over-year basis. During the same quarter last year, the business earned $0.13 EPS. On average, equities research analysts predict that PNM Resources Inc will post $1.82 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Monday, May 15th. Shareholders of record on Monday, May 1st were paid a dividend of $0.2425 per share. The ex-dividend date was Thursday, April 27th. This represents a $0.97 dividend on an annualized basis and a dividend yield of 2.66%.
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A number of equities analysts recently weighed in on PNM shares. Jefferies Group LLC raised their price objective on PNM Resources to $36.50 and gave the company a “hold” rating in a report on Wednesday, March 1st. Barclays PLC restated a “hold” rating and set a $36.00 price target on shares of PNM Resources in a research report on Wednesday, March 1st. Williams Capital lowered PNM Resources from a “buy” rating to a “hold” rating and raised their price target for the stock from $35.00 to $36.00 in a research report on Wednesday, March 1st. Zacks Investment Research lowered PNM Resources from a “hold” rating to a “sell” rating in a research report on Friday, March 31st. Finally, Royal Bank of Canada raised their price target on PNM Resources from $37.00 to $38.00 and gave the stock an “outperform” rating in a research report on Thursday, March 9th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and three have given a buy rating to the stock. PNM Resources currently has a consensus rating of “Hold” and a consensus price target of $36.19.
In other PNM Resources news, CFO Charles N. Eldred sold 4,000 shares of PNM Resources stock in a transaction dated Monday, March 6th. The stock was sold at an average price of $36.40, for a total transaction of $145,600.00. Following the completion of the transaction, the chief financial officer now owns 99,311 shares in the company, valued at approximately $3,614,920.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 1.22% of the company’s stock.
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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