Neuberger Berman Group LLC bought a new position in shares of PNM Resources, Inc. (Holding Co.) (NYSE:PNM) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 5,451 shares of the utilities provider’s stock, valued at approximately $209,000.

Other hedge funds also recently made changes to their positions in the company. Edge Asset Management Inc. boosted its stake in PNM Resources, Inc. (Holding Co.) by 5.1% during the first quarter. Edge Asset Management Inc. now owns 678,133 shares of the utilities provider’s stock worth $25,090,000 after buying an additional 32,788 shares during the period. Citadel Advisors LLC purchased a new position in PNM Resources, Inc. (Holding Co.) during the first quarter worth about $2,415,000. Goldman Sachs Group Inc. boosted its stake in PNM Resources, Inc. (Holding Co.) by 5.7% during the first quarter. Goldman Sachs Group Inc. now owns 2,723,894 shares of the utilities provider’s stock worth $100,784,000 after buying an additional 147,047 shares during the period. Baird Financial Group Inc. purchased a new position in PNM Resources, Inc. (Holding Co.) during the first quarter worth about $507,000. Finally, Massachusetts Financial Services Co. MA boosted its stake in PNM Resources, Inc. (Holding Co.) by 38.8% during the first quarter. Massachusetts Financial Services Co. MA now owns 532,511 shares of the utilities provider’s stock worth $19,703,000 after buying an additional 148,956 shares during the period. 94.31% of the stock is owned by institutional investors.

PNM Resources, Inc. (NYSE:PNM) opened at 41.20 on Thursday. The stock has a 50 day moving average of $41.94 and a 200 day moving average of $38.87. The stock has a market cap of $3.28 billion, a price-to-earnings ratio of 23.68 and a beta of 0.32. PNM Resources, Inc. has a 1-year low of $30.95 and a 1-year high of $43.05.

PNM Resources, Inc. (Holding Co.) (NYSE:PNM) last posted its earnings results on Friday, July 28th. The utilities provider reported $0.49 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.45 by $0.04. The firm had revenue of $362.32 million during the quarter. PNM Resources, Inc. (Holding Co.) had a net margin of 10.05% and a return on equity of 8.57%. During the same period last year, the company posted $0.40 EPS. Equities analysts expect that PNM Resources, Inc. will post $1.85 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, November 14th. Investors of record on Monday, October 30th will be given a dividend of $0.2425 per share. This represents a $0.97 dividend on an annualized basis and a yield of 2.35%. The ex-dividend date of this dividend is Friday, October 27th. PNM Resources, Inc. (Holding Co.)’s dividend payout ratio (DPR) is presently 55.43%.

TRADEMARK VIOLATION WARNING: This piece of content was first reported by The Cerbat Gem and is the property of of The Cerbat Gem. If you are accessing this piece of content on another publication, it was illegally copied and republished in violation of United States and international copyright legislation. The legal version of this piece of content can be read at https://www.thecerbatgem.com/2017/09/28/5451-shares-in-pnm-resources-inc-holding-co-pnm-acquired-by-neuberger-berman-group-llc.html.

Several research analysts have weighed in on PNM shares. Zacks Investment Research lowered shares of PNM Resources, Inc. (Holding Co.) from a “hold” rating to a “sell” rating in a research note on Thursday, July 20th. KeyCorp reaffirmed a “hold” rating on shares of PNM Resources, Inc. (Holding Co.) in a research note on Friday, September 1st. BidaskClub raised shares of PNM Resources, Inc. (Holding Co.) from a “buy” rating to a “strong-buy” rating in a research note on Thursday, August 10th. Argus reaffirmed a “buy” rating and set a $41.40 target price (down previously from $43.00) on shares of PNM Resources, Inc. (Holding Co.) in a research note on Friday, August 11th. Finally, Ladenburg Thalmann Financial Services lowered shares of PNM Resources, Inc. (Holding Co.) from a “buy” rating to a “neutral” rating and set a $41.00 target price for the company. in a research note on Friday, August 18th. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company’s stock. PNM Resources, Inc. (Holding Co.) presently has an average rating of “Hold” and a consensus price target of $38.82.

In related news, SVP Patrick V. Apodaca sold 5,333 shares of the stock in a transaction that occurred on Wednesday, August 2nd. The shares were sold at an average price of $40.43, for a total transaction of $215,613.19. Following the completion of the sale, the senior vice president now owns 65,009 shares of the company’s stock, valued at approximately $2,628,313.87. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Ronald N. Darnell sold 5,000 shares of the stock in a transaction that occurred on Friday, August 11th. The stock was sold at an average price of $40.97, for a total transaction of $204,850.00. Following the sale, the senior vice president now directly owns 24,053 shares of the company’s stock, valued at approximately $985,451.41. The disclosure for this sale can be found here. 1.26% of the stock is currently owned by corporate insiders.

PNM Resources, Inc. (Holding Co.) Profile

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.

Institutional Ownership by Quarter for PNM Resources, Inc. (Holding Co.) (NYSE:PNM)

Receive News & Stock Ratings for PNM Resources Inc. (Holding Co.) Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PNM Resources Inc. (Holding Co.) and related stocks with our FREE daily email newsletter.