PNM Resources, Inc. (NYSE:PNM) Shares Purchased by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D increased its position in shares of PNM Resources, Inc. (NYSE:PNM) by 6.1% in the 4th quarter, Holdings Channel.com reports. The firm owned 59,797 shares of the utilities provider’s stock after acquiring an additional 3,425 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in PNM Resources were worth $2,488,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the company. Arizona State Retirement System lifted its holdings in PNM Resources by 1.4% in the third quarter. Arizona State Retirement System now owns 23,217 shares of the utilities provider’s stock valued at $1,036,000 after acquiring an additional 313 shares during the last quarter. Xponance Inc. increased its position in shares of PNM Resources by 2.9% during the 4th quarter. Xponance Inc. now owns 12,598 shares of the utilities provider’s stock worth $524,000 after purchasing an additional 356 shares during the last quarter. Massachusetts Financial Services Co. MA raised its holdings in PNM Resources by 0.9% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 44,588 shares of the utilities provider’s stock valued at $1,989,000 after buying an additional 400 shares during the period. Allworth Financial LP lifted its position in PNM Resources by 59.5% in the third quarter. Allworth Financial LP now owns 1,088 shares of the utilities provider’s stock valued at $49,000 after buying an additional 406 shares during the last quarter. Finally, Fifth Third Bancorp boosted its stake in PNM Resources by 64.7% during the third quarter. Fifth Third Bancorp now owns 1,100 shares of the utilities provider’s stock worth $49,000 after buying an additional 432 shares during the period. 91.68% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

PNM has been the topic of several recent analyst reports. TheStreet lowered shares of PNM Resources from a “b-” rating to a “c+” rating in a report on Thursday, January 4th. 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 research report on Wednesday, January 3rd. Barclays increased their target price on PNM Resources from $40.00 to $43.00 and gave the stock an “overweight” rating in a research note on Monday, April 15th. Mizuho downgraded PNM Resources from a “buy” rating to a “neutral” rating and set a $41.00 target price for the company. in a research report on Wednesday, January 3rd. Finally, StockNews.com downgraded shares of PNM Resources from a “hold” rating to a “sell” rating in a research note on Wednesday, January 17th. One analyst has rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $46.80.

PNM Resources Stock Up 0.9 %

Shares of NYSE:PNM opened at $37.38 on Thursday. PNM Resources, Inc. has a fifty-two week low of $34.63 and a fifty-two week high of $48.71. The firm’s 50 day moving average price is $37.03 and its 200 day moving average price is $39.26. The company has a quick ratio of 0.31, a current ratio of 0.39 and a debt-to-equity ratio of 1.77. The stock has a market cap of $3.37 billion, a price-to-earnings ratio of 41.08, a price-to-earnings-growth ratio of 10.24 and a beta of 0.35.

PNM Resources (NYSE:PNM) last announced its quarterly earnings data on Tuesday, April 30th. The utilities provider reported $0.41 earnings per share for the quarter, missing analysts’ consensus estimates of $0.68 by ($0.27). The firm had revenue of $436.90 million during the quarter, compared to analyst estimates of $531.00 million. PNM Resources had a net margin of 4.38% and a return on equity of 9.99%. PNM Resources’s revenue for the quarter was down 19.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.55 earnings per share. As a group, equities research analysts predict that PNM Resources, Inc. will post 2.7 earnings per share for the current fiscal year.

PNM Resources Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 10th. Shareholders of record on Friday, April 26th will be issued a dividend of $0.387 per share. This represents a $1.55 dividend on an annualized basis and a yield of 4.14%. The ex-dividend date of this dividend is Thursday, April 25th. PNM Resources’s dividend payout ratio (DPR) is 170.33%.

PNM Resources 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.