Tokio Marine Asset Management Co. Ltd. Raises Holdings in PNM Resources, Inc. (NYSE:PNM)

Tokio Marine Asset Management Co. Ltd. grew its position in shares of PNM Resources, Inc. (NYSE:PNM) by 11.1% in the fourth quarter, HoldingsChannel reports. The firm owned 364,129 shares of the utilities provider’s stock after buying an additional 36,500 shares during the quarter. Tokio Marine Asset Management Co. Ltd.’s holdings in PNM Resources were worth $15,148,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in PNM. Vanguard Group Inc. grew its position in PNM Resources by 0.4% in the third quarter. Vanguard Group Inc. now owns 9,379,034 shares of the utilities provider’s stock worth $418,399,000 after acquiring an additional 40,253 shares in the last quarter. Hudson Bay Capital Management LP grew its position in PNM Resources by 42.5% in the third quarter. Hudson Bay Capital Management LP now owns 2,670,601 shares of the utilities provider’s stock worth $119,136,000 after acquiring an additional 796,077 shares in the last quarter. Alpha Wave Global LP grew its position in PNM Resources by 82.3% in the third quarter. Alpha Wave Global LP now owns 1,273,853 shares of the utilities provider’s stock worth $56,827,000 after acquiring an additional 575,012 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund grew its position in PNM Resources by 73.0% in the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,272,800 shares of the utilities provider’s stock worth $56,780,000 after acquiring an additional 536,900 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its stake in PNM Resources by 23.4% in the third quarter. Bank of New York Mellon Corp now owns 1,253,239 shares of the utilities provider’s stock worth $55,907,000 after purchasing an additional 237,654 shares during the last quarter. Hedge funds and other institutional investors own 91.68% of the company’s stock.

Analyst Ratings Changes

Several analysts have issued reports on PNM shares. Wells Fargo & Company raised shares of PNM Resources from an “equal weight” rating to an “overweight” rating and set a $44.00 price objective for the company in a research note on Wednesday, January 3rd. StockNews.com downgraded shares of PNM Resources from a “hold” rating to a “sell” rating in a research note on Wednesday, January 17th. TheStreet downgraded shares of PNM Resources from a “b-” rating to a “c+” rating in a research note on Thursday, January 4th. Mizuho downgraded shares of PNM Resources from a “buy” rating to a “neutral” rating and set a $41.00 price objective for the company. in a research note on Wednesday, January 3rd. Finally, Barclays lifted their price target on shares of PNM Resources from $40.00 to $43.00 and gave the company an “overweight” rating in a research note on Monday, April 15th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $46.80.

PNM Resources Trading Up 0.9 %

Shares of PNM Resources stock traded up $0.32 on Wednesday, hitting $36.61. 523,603 shares of the company traded hands, compared to its average volume of 1,404,657. The stock’s 50 day moving average price is $37.11 and its 200-day moving average price is $39.50. The company has a current ratio of 0.39, a quick ratio of 0.31 and a debt-to-equity ratio of 1.77. PNM Resources, Inc. has a 52 week low of $34.63 and a 52 week high of $48.92. The company has a market cap of $3.30 billion, a PE ratio of 35.54, a PEG ratio of 10.14 and a beta of 0.35.

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

PNM Resources Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 10th. Investors of record on Friday, April 26th will be paid a $0.387 dividend. This represents a $1.55 dividend on an annualized basis and a yield of 4.23%. The ex-dividend date is Thursday, April 25th. PNM Resources’s dividend payout ratio (DPR) is 150.49%.

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.