PNM Resources, Inc. (NYSE:PNM) Shares Sold by Nisa Investment Advisors LLC

Nisa Investment Advisors LLC lowered its holdings in PNM Resources, Inc. (NYSE:PNMFree Report) by 19.7% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 32,130 shares of the utilities provider’s stock after selling 7,895 shares during the quarter. Nisa Investment Advisors LLC’s holdings in PNM Resources were worth $1,433,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Fifth Third Bancorp raised its stake in shares of PNM Resources by 139.4% during the 2nd quarter. Fifth Third Bancorp now owns 668 shares of the utilities provider’s stock worth $30,000 after buying an additional 389 shares during the last quarter. State of Wyoming acquired a new position in shares of PNM Resources during the 4th quarter worth $46,000. Allworth Financial LP increased its position in PNM Resources by 59.5% during the 3rd quarter. Allworth Financial LP now owns 1,088 shares of the utilities provider’s stock worth $49,000 after purchasing an additional 406 shares in the last quarter. Quadrant Capital Group LLC increased its position in PNM Resources by 29.4% during the 2nd quarter. Quadrant Capital Group LLC now owns 2,626 shares of the utilities provider’s stock worth $118,000 after purchasing an additional 597 shares in the last quarter. Finally, Captrust Financial Advisors increased its position in PNM Resources by 14.8% during the 1st quarter. Captrust Financial Advisors now owns 2,626 shares of the utilities provider’s stock worth $125,000 after purchasing an additional 339 shares in the last quarter. Institutional investors and hedge funds own 91.18% of the company’s stock.

Analyst Ratings Changes

Several research firms have commented on PNM. Wells Fargo & Company upgraded PNM Resources from an “equal weight” rating to an “overweight” rating and set a $44.00 price target for the company in a report on Wednesday, January 3rd. TheStreet lowered PNM Resources from a “b-” rating to a “c+” rating in a research report on Thursday, January 4th. StockNews.com lowered PNM Resources from a “hold” rating to a “sell” rating in a report on Wednesday, January 17th. Finally, Mizuho lowered PNM Resources from a “buy” rating to a “neutral” rating and set a $41.00 price target on the stock. in a report on Wednesday, January 3rd. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company. According to MarketBeat, PNM Resources presently has an average rating of “Hold” and an average price target of $47.75.

Get Our Latest Stock Analysis on PNM Resources

PNM Resources Price Performance

NYSE:PNM opened at $36.03 on Thursday. The business’s 50-day moving average price is $40.66 and its 200 day moving average price is $42.93. The firm has a market cap of $3.09 billion, a P/E ratio of 20.13, a PEG ratio of 0.36 and a beta of 0.37. PNM Resources, Inc. has a 52-week low of $35.17 and a 52-week high of $49.48. The company has a quick ratio of 0.27, a current ratio of 0.33 and a debt-to-equity ratio of 1.71.

PNM Resources (NYSE:PNMGet Free Report) last released its earnings results on Friday, October 27th. The utilities provider reported $1.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.30 by $0.24. PNM Resources had a return on equity of 10.58% and a net margin of 7.33%. The firm had revenue of $505.85 million for the quarter, compared to analyst estimates of $908.51 million. During the same period in the previous year, the company earned $1.46 earnings per share. As a group, sell-side analysts predict that PNM Resources, Inc. will post 2.79 earnings per share for the current fiscal year.

PNM Resources Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, February 16th. Investors of record on Friday, February 2nd will be given a $0.387 dividend. This is a positive change from PNM Resources’s previous quarterly dividend of $0.37. The ex-dividend date of this dividend is Thursday, February 1st. This represents a $1.55 dividend on an annualized basis and a dividend yield of 4.30%. PNM Resources’s dividend payout ratio (DPR) is 82.12%.

About PNM Resources

(Free Report)

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.

See Also

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:PNMFree Report).

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.