PNM Resources, Inc. (NYSE:PNM) Shares Sold by California Public Employees Retirement System

California Public Employees Retirement System lowered its stake in shares of PNM Resources, Inc. (NYSE:PNMGet Rating) by 3.8% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 161,989 shares of the utilities provider’s stock after selling 6,325 shares during the quarter. California Public Employees Retirement System owned about 0.19% of PNM Resources worth $7,740,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of PNM. Mutual of America Capital Management LLC boosted its position in PNM Resources by 2.0% in the first quarter. Mutual of America Capital Management LLC now owns 78,249 shares of the utilities provider’s stock valued at $3,730,000 after buying an additional 1,509 shares during the last quarter. Victory Capital Management Inc. boosted its position in PNM Resources by 72.7% in the first quarter. Victory Capital Management Inc. now owns 19,403 shares of the utilities provider’s stock valued at $905,000 after buying an additional 8,165 shares during the last quarter. BCK Capital Management LP boosted its position in PNM Resources by 158.8% in the first quarter. BCK Capital Management LP now owns 87,562 shares of the utilities provider’s stock valued at $4,174,000 after buying an additional 53,733 shares during the last quarter. Russell Investments Group Ltd. boosted its position in PNM Resources by 47.3% in the first quarter. Russell Investments Group Ltd. now owns 190,277 shares of the utilities provider’s stock valued at $9,067,000 after buying an additional 61,116 shares during the last quarter. Finally, IFM Investors Pty Ltd purchased a new stake in PNM Resources in the first quarter valued at approximately $538,000. Hedge funds and other institutional investors own 91.18% of the company’s stock.

Wall Street Analysts Forecast Growth

PNM has been the topic of several recent research reports. Mizuho lowered their price objective on PNM Resources from $52.00 to $51.00 and set a “buy” rating on the stock in a research report on Wednesday, September 7th. Wells Fargo & Company lowered PNM Resources from an “overweight” rating to an “equal weight” rating and lowered their price objective for the stock from $53.00 to $45.00 in a research report on Thursday, October 20th. Finally, StockNews.com initiated coverage on PNM Resources in a research report on Wednesday, October 12th. They issued a “hold” rating on the stock.

PNM Resources Trading Up 0.2 %

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

PNM Resources Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, November 10th. Investors of record on Thursday, October 27th were issued a $0.347 dividend. This represents a $1.39 annualized dividend and a yield of 2.86%. The ex-dividend date of this dividend was Wednesday, October 26th. PNM Resources’s payout ratio is presently 72.40%.

PNM Resources Company Profile

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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.

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Institutional Ownership by Quarter for PNM Resources (NYSE:PNM)

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