Alps Advisors Inc. Invests $272,000 in PNM Resources, Inc. (NYSE:PNM)

Alps Advisors Inc. bought a new position in shares of PNM Resources, Inc. (NYSE:PNMGet Rating) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 5,683 shares of the utilities provider’s stock, valued at approximately $272,000.

A number of other large investors have also modified their holdings of the business. Healthcare of Ontario Pension Plan Trust Fund boosted its position in shares of PNM Resources by 87.0% during the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,783,851 shares of the utilities provider’s stock valued at $132,706,000 after acquiring an additional 1,295,002 shares during the last quarter. Cohen & Steers Inc. boosted its position in shares of PNM Resources by 52.4% during the 1st quarter. Cohen & Steers Inc. now owns 2,061,337 shares of the utilities provider’s stock valued at $98,264,000 after acquiring an additional 708,896 shares during the last quarter. American Century Companies Inc. acquired a new position in shares of PNM Resources during the 1st quarter valued at about $30,938,000. State Street Corp boosted its position in shares of PNM Resources by 17.5% during the 1st quarter. State Street Corp now owns 3,160,826 shares of the utilities provider’s stock valued at $150,677,000 after acquiring an additional 471,143 shares during the last quarter. Finally, Neuberger Berman Group LLC acquired a new position in shares of PNM Resources during the 1st quarter valued at about $15,929,000. Hedge funds and other institutional investors own 91.18% of the company’s stock.

PNM Resources Trading Up 0.2 %

NYSE PNM opened at $48.55 on Thursday. The firm’s 50-day moving average is $46.79 and its two-hundred day moving average is $47.07. PNM Resources, Inc. has a 12 month low of $43.43 and a 12 month high of $49.88. The company has a debt-to-equity ratio of 1.73, a current ratio of 0.61 and a quick ratio of 0.52. The stock has a market capitalization of $4.17 billion, a P/E ratio of 25.29, a PEG ratio of 4.32 and a beta of 0.41.

PNM Resources Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 10th. Shareholders of record on Thursday, October 27th were paid a dividend of $0.347 per share. The ex-dividend date was Wednesday, October 26th. This represents a $1.39 dividend on an annualized basis and a yield of 2.86%. PNM Resources’s dividend payout ratio (DPR) is presently 72.40%.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on PNM. StockNews.com started coverage on shares of PNM Resources in a research report on Wednesday, October 12th. They set a “hold” rating on the stock. Wells Fargo & Company cut shares of PNM Resources from an “overweight” rating to an “equal weight” rating and decreased their target price for the company from $53.00 to $45.00 in a research report on Thursday, October 20th. Finally, Mizuho decreased their target price on shares of PNM Resources from $52.00 to $51.00 and set a “buy” rating on the stock in a research report on Wednesday, September 7th.

PNM Resources Company Profile

(Get Rating)

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.

Read More

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:PNMGet Rating).

Institutional Ownership by Quarter for PNM Resources (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.