California Public Employees Retirement System lowered its stake in shares of PNM Resources, Inc. (NYSE:PNM – Get 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 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
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.
- Get a free copy of the StockNews.com research report on PNM Resources (PNM)
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