Miller Howard Investments Inc. NY lessened its holdings in PNM Resources Inc (NYSE:PNM) by 0.5% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 48,515 shares of the utilities provider’s stock after selling 241 shares during the quarter. Miller Howard Investments Inc. NY owned approximately 0.06% of PNM Resources worth $2,470,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also modified their holdings of the company. Osborn Williams & Donohoe LLC bought a new position in shares of PNM Resources in the 1st quarter valued at about $69,000. Quadrant Capital Group LLC boosted its stake in shares of PNM Resources by 1,004.6% in the 1st quarter. Quadrant Capital Group LLC now owns 2,176 shares of the utilities provider’s stock valued at $100,000 after purchasing an additional 1,979 shares during the last quarter. Meeder Asset Management Inc. bought a new position in shares of PNM Resources in the 1st quarter valued at about $123,000. Intrust Bank NA bought a new position in shares of PNM Resources in the 1st quarter valued at about $213,000. Finally, Piedmont Investment Advisors Inc. bought a new position in shares of PNM Resources in the 1st quarter valued at about $215,000. 90.15% of the stock is currently owned by institutional investors.
PNM Resources stock traded up $0.60 during midday trading on Friday, hitting $50.61. 3,786 shares of the stock were exchanged, compared to its average volume of 340,357. The firm has a fifty day moving average price of $50.48. PNM Resources Inc has a 52 week low of $37.67 and a 52 week high of $52.10. The stock has a market capitalization of $4.00 billion, a PE ratio of 25.26, a PEG ratio of 4.37 and a beta of 0.29. The company has a debt-to-equity ratio of 1.66, a current ratio of 0.69 and a quick ratio of 0.59.
PNM Resources (NYSE:PNM) last announced its earnings results on Tuesday, May 7th. The utilities provider reported $0.13 EPS for the quarter, topping the consensus estimate of $0.11 by $0.02. The firm had revenue of $349.65 million for the quarter, compared to the consensus estimate of $273.12 million. PNM Resources had a net margin of 6.10% and a return on equity of 8.68%. The business’s quarterly revenue was up 10.0% on a year-over-year basis. During the same period last year, the company posted $0.21 EPS. On average, research analysts forecast that PNM Resources Inc will post 2.08 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, August 16th. Shareholders of record on Tuesday, August 6th will be issued a dividend of $0.29 per share. The ex-dividend date is Monday, August 5th. This represents a $1.16 annualized dividend and a yield of 2.29%. PNM Resources’s dividend payout ratio (DPR) is currently 58.00%.
PNM has been the topic of several recent research reports. Mizuho set a $88.00 target price on shares of Gilead Sciences and gave the company a “buy” rating in a research note on Monday, July 15th. UBS Group lowered shares of to a “sell” rating and raised their target price for the company from GBX 530 ($6.93) to GBX 540 ($7.06) in a research note on Wednesday, June 12th. Zacks Investment Research lowered shares of Hallmark Financial Services from a “buy” rating to a “hold” rating in a research note on Thursday. Bank of America raised shares of Air Products & Chemicals from an “underperform” rating to a “neutral” rating and lifted their price objective for the stock from $170.00 to $215.00 in a research note on Thursday, April 25th. Finally, Barclays reissued a “top pick” rating and set a GBX 3,250 ($42.47) price objective on shares of in a research note on Wednesday, June 19th. Three research analysts have rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $50.19.
PNM Resources 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.
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.