Renaissance Technologies LLC lifted its position in PNM Resources Inc (NYSE:PNM) by 1.0% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 2,683,800 shares of the utilities provider’s stock after buying an additional 27,400 shares during the period. Renaissance Technologies LLC owned approximately 3.37% of PNM Resources worth $136,095,000 as of its most recent SEC filing.
Several other institutional investors have also recently modified their holdings of PNM. Evoke Wealth LLC purchased a new stake in PNM Resources during the 3rd quarter worth approximately $29,000. TRUE Private Wealth Advisors acquired a new stake in PNM Resources during the 4th quarter valued at approximately $27,000. Huntington National Bank lifted its stake in PNM Resources by 113,000.0% during the 4th quarter. Huntington National Bank now owns 1,131 shares of the utilities provider’s stock valued at $57,000 after acquiring an additional 1,130 shares during the period. Chevy Chase Trust Holdings Inc. acquired a new stake in PNM Resources during the 4th quarter valued at approximately $60,000. Finally, Quadrant Capital Group LLC lifted its stake in PNM Resources by 17.7% during the 4th quarter. Quadrant Capital Group LLC now owns 1,680 shares of the utilities provider’s stock valued at $79,000 after acquiring an additional 253 shares during the period. 91.25% of the stock is currently owned by hedge funds and other institutional investors.
PNM Resources stock traded down $6.81 during midday trading on Thursday, reaching $38.84. 56,261 shares of the company were exchanged, compared to its average volume of 622,551. The company has a market capitalization of $3.88 billion, a price-to-earnings ratio of 40.85, a P/E/G ratio of 3.68 and a beta of 0.38. The firm’s 50-day simple moving average is $52.99 and its 200-day simple moving average is $51.03. PNM Resources Inc has a 1 year low of $44.28 and a 1 year high of $56.14. The company has a debt-to-equity ratio of 1.51, a quick ratio of 0.22 and a current ratio of 0.30.
PNM Resources (NYSE:PNM) last issued its earnings results on Friday, February 28th. The utilities provider reported $0.36 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.33 by $0.03. PNM Resources had a return on equity of 9.68% and a net margin of 5.11%. The business had revenue of $408.32 million during the quarter, compared to analysts’ expectations of $471.49 million. During the same quarter in the previous year, the business earned $0.18 EPS. On average, analysts forecast that PNM Resources Inc will post 2.2 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, May 15th. Shareholders of record on Friday, May 1st will be issued a dividend of $0.308 per share. The ex-dividend date of this dividend is Thursday, April 30th. This is a positive change from PNM Resources’s previous quarterly dividend of $0.31. This represents a $1.23 annualized dividend and a yield of 3.17%. PNM Resources’s payout ratio is currently 56.94%.
Several equities analysts recently issued reports on PNM shares. Evercore ISI reiterated a “hold” rating and issued a $55.00 target price on shares of PNM Resources in a research note on Thursday, January 30th. Mizuho upped their target price on shares of PNM Resources from $54.00 to $55.00 and gave the stock a “buy” rating in a report on Monday, January 13th. UBS Group dropped their price objective on shares of PNM Resources from $53.00 to $52.00 and set a “neutral” rating for the company in a report on Thursday, December 19th. Zacks Investment Research raised shares of PNM Resources from a “sell” rating to a “hold” rating and set a $54.00 price objective for the company in a report on Friday, December 20th. Finally, ValuEngine raised shares of PNM Resources from a “sell” rating to a “hold” rating in a research report on Tuesday, December 3rd. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and two have issued a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $53.38.
PNM Resources Company Profile
PNM Resources, Inc, through its subsidiaries, engages in the energy and energy-related businesses 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 is primarily involved in the generation, transmission, and distribution of electricity.
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