PNM Resources, Inc. (NYSE:PNM) Stock Holdings Increased by Calamos Advisors LLC

Calamos Advisors LLC boosted its position in PNM Resources, Inc. (NYSE:PNM) by 32.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 991,028 shares of the utilities provider’s stock after buying an additional 241,028 shares during the quarter. Calamos Advisors LLC’s holdings in PNM Resources were worth $41,227,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Great West Life Assurance Co. Can grew its holdings in shares of PNM Resources by 8.2% during the first quarter. Great West Life Assurance Co. Can now owns 46,260 shares of the utilities provider’s stock valued at $2,263,000 after purchasing an additional 3,493 shares during the last quarter. Yousif Capital Management LLC boosted its position in shares of PNM Resources by 1.6% during the first quarter. Yousif Capital Management LLC now owns 45,120 shares of the utilities provider’s stock worth $2,151,000 after buying an additional 724 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp acquired a new stake in PNM Resources in the first quarter worth approximately $5,387,000. Sei Investments Co. boosted its position in shares of PNM Resources by 114.7% in the 1st quarter. Sei Investments Co. now owns 238,673 shares of the utilities provider’s stock valued at $11,378,000 after purchasing an additional 127,483 shares during the period. Finally, Allianz Asset Management GmbH boosted its position in shares of PNM Resources by 0.8% in the 1st quarter. Allianz Asset Management GmbH now owns 391,228 shares of the utilities provider’s stock valued at $18,650,000 after purchasing an additional 2,959 shares during the period. 91.68% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. Barclays raised their price objective on PNM Resources from $40.00 to $43.00 and gave the stock an “overweight” rating in a research report on Monday. Wells Fargo & Company raised PNM Resources from an “equal weight” rating to an “overweight” rating and set a $44.00 price target for the company in a research note on Wednesday, January 3rd. TheStreet downgraded PNM Resources from a “b-” rating to a “c+” rating in a research note on Thursday, January 4th. StockNews.com downgraded PNM Resources from a “hold” rating to a “sell” rating in a research note on Wednesday, January 17th. Finally, Mizuho downgraded PNM Resources from a “buy” rating to a “neutral” rating and set a $41.00 price objective on the stock. in a research note on Wednesday, January 3rd. One investment analyst has rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, PNM Resources presently has an average rating of “Hold” and an average price target of $46.80.

PNM Resources Stock Performance

NYSE PNM traded up $0.23 during trading on Thursday, hitting $36.12. The company’s stock had a trading volume of 455,714 shares, compared to its average volume of 1,450,939. 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 firm has a 50 day moving average price of $37.16 and a 200 day moving average price of $39.75. The firm has a market cap of $3.26 billion, a P/E ratio of 35.02, a price-to-earnings-growth ratio of 9.94 and a beta of 0.35. PNM Resources, Inc. has a 52 week low of $34.63 and a 52 week high of $49.08.

PNM Resources (NYSE:PNM) last issued its quarterly earnings results on Tuesday, February 6th. The utilities provider reported $0.18 EPS for the quarter, topping the consensus estimate of $0.14 by $0.04. PNM Resources had a return on equity of 10.51% and a net margin of 4.54%. The company had revenue of $412.11 million for the quarter, compared to the consensus estimate of $705.05 million. During the same period in the previous year, the business posted $0.15 EPS. Equities research analysts forecast that PNM Resources, Inc. will post 2.7 earnings per share for the current fiscal year.

PNM Resources Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 10th. Stockholders of record on Friday, April 26th will be issued a dividend of $0.387 per share. This represents a $1.55 annualized dividend and a dividend yield of 4.29%. The ex-dividend date of this dividend is Thursday, April 25th. PNM Resources’s payout ratio is presently 150.49%.

About PNM Resources

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.