HAP Trading LLC Takes Position in PNM Resources, Inc. (NYSE:PNM)

HAP Trading LLC purchased a new stake in PNM Resources, Inc. (NYSE:PNM) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 24,500 shares of the utilities provider’s stock, valued at approximately $1,195,000.

Several other institutional investors also recently added to or reduced their stakes in PNM. Berman Capital Advisors LLC raised its stake in shares of PNM Resources by 1,291.7% in the 1st quarter. Berman Capital Advisors LLC now owns 668 shares of the utilities provider’s stock valued at $32,000 after acquiring an additional 620 shares during the period. Captrust Financial Advisors increased its stake in PNM Resources by 1,250.3% during the 1st quarter. Captrust Financial Advisors now owns 2,093 shares of the utilities provider’s stock worth $103,000 after buying an additional 1,938 shares during the period. Meeder Asset Management Inc. increased its stake in PNM Resources by 203.9% during the 2nd quarter. Meeder Asset Management Inc. now owns 2,641 shares of the utilities provider’s stock worth $129,000 after buying an additional 1,772 shares during the period. AGF Investments Inc. purchased a new stake in PNM Resources during the 2nd quarter worth approximately $180,000. Finally, Mercer Global Advisors Inc. ADV purchased a new stake in PNM Resources during the 1st quarter worth approximately $204,000. 83.26% of the stock is currently owned by institutional investors and hedge funds.

NYSE PNM opened at $49.50 on Friday. The company has a quick ratio of 0.52, a current ratio of 0.62 and a debt-to-equity ratio of 1.49. PNM Resources, Inc. has a 52 week low of $39.72 and a 52 week high of $50.25. The stock has a market capitalization of $4.25 billion, a PE ratio of 20.20, a price-to-earnings-growth ratio of 4.20 and a beta of 0.53. The firm has a 50 day moving average of $48.94 and a two-hundred day moving average of $49.02.

PNM Resources (NYSE:PNM) last posted its quarterly earnings results on Friday, July 30th. The utilities provider reported $0.55 EPS for the quarter, topping the consensus estimate of $0.46 by $0.09. PNM Resources had a net margin of 12.46% and a return on equity of 9.79%. The company had revenue of $426.54 million during the quarter, compared to analysts’ expectations of $345.08 million. During the same quarter in the previous year, the business posted $0.55 EPS. The firm’s revenue was up 19.3% on a year-over-year basis. On average, equities research analysts expect that PNM Resources, Inc. will post 2.28 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, November 12th. Stockholders of record on Monday, November 1st will be issued a $0.3275 dividend. This is a boost from PNM Resources’s previous quarterly dividend of $0.33. The ex-dividend date is Friday, October 29th. This represents a $1.31 annualized dividend and a dividend yield of 2.65%. PNM Resources’s dividend payout ratio is presently 57.46%.

Separately, Argus downgraded shares of PNM Resources from a “buy” rating to a “hold” rating in a research note on Wednesday, August 25th. Two analysts have rated the stock with a sell rating, six have given a hold rating and one has issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $50.20.

PNM Resources Profile

PNM Resources, Inc operates as an investor-owned holding company, which provides electricity and electric services in New Mexico and Texas. It operates through the following segments: Public Service Company of New Mexico (PNM), Texas-New Mexico Power Company (TNMP), and Corporate and Other. The PNM segment includes the retail electric utility operations of the company.

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Institutional Ownership by Quarter for PNM Resources (NYSE:PNM)

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