PNM Resources Inc. (NYSE:PNM)’s share price was down 2% during trading on Friday . The stock traded as low as $32.57 and last traded at $32.78, with a volume of 397,772 shares trading hands. The stock had previously closed at $33.46.

Several equities analysts have commented on PNM shares. Zacks Investment Research upgraded shares of PNM Resources from a “sell” rating to a “hold” rating in a report on Wednesday, May 18th. Jefferies Group reiterated a “hold” rating on shares of PNM Resources in a report on Monday, July 18th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and five have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $35.50.

The company’s 50-day moving average is $34.28 and its 200-day moving average is $32.92. The firm has a market cap of $2.60 billion and a price-to-earnings ratio of 225.03.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 22nd. Shareholders of record on Monday, August 8th will be paid a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 2.70%. The ex-dividend date of this dividend is Thursday, August 4th.

Other institutional investors recently modified their holdings of the company. Victory Capital Management Inc. boosted its position in shares of PNM Resources by 7.0% in the fourth quarter. Victory Capital Management Inc. now owns 1,494,623 shares of the company’s stock valued at $45,691,000 after buying an additional 97,303 shares during the period. Wells Fargo & Company MN boosted its position in shares of PNM Resources by 0.7% in the fourth quarter. Wells Fargo & Company MN now owns 549,087 shares of the company’s stock valued at $16,785,000 after buying an additional 3,678 shares during the period. Liberty Mutual Group Asset Management Inc. boosted its position in shares of PNM Resources by 51.8% in the fourth quarter. Liberty Mutual Group Asset Management Inc. now owns 51,346 shares of the company’s stock valued at $1,570,000 after buying an additional 17,511 shares during the period. State of Wisconsin Investment Board boosted its position in shares of PNM Resources by 3.1% in the fourth quarter. State of Wisconsin Investment Board now owns 58,050 shares of the company’s stock valued at $1,775,000 after buying an additional 1,736 shares during the period. Finally, California Public Employees Retirement System boosted its position in shares of PNM Resources by 8.3% in the fourth quarter. California Public Employees Retirement System now owns 267,700 shares of the company’s stock valued at $8,184,000 after buying an additional 20,500 shares during the period.

PNM Resources, Inc (PNMR) is an investor-owned holding company with approximately two regulated utilities providing electricity and electric services in New Mexico and Texas. PNMR’s electric utilities are Public Service Company of New Mexico and Subsidiaries (PNM) and Texas-New Mexico Power Company and Subsidiaries (TNMP).

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