PNM Resources Inc. (PNM) Stake Increased by Dimensional Fund Advisors LP
Dimensional Fund Advisors LP raised its position in PNM Resources Inc. (NYSE:PNM) by 0.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,631,534 shares of the company’s stock after buying an additional 3,380 shares during the period. Dimensional Fund Advisors LP owned about 2.05% of PNM Resources worth $57,819,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also bought and sold shares of the company. Creative Planning raised its position in PNM Resources by 119.6% in the second quarter. Creative Planning now owns 2,875 shares of the company’s stock worth $102,000 after buying an additional 1,566 shares during the last quarter. Meeder Asset Management Inc. raised its position in PNM Resources by 514.3% in the first quarter. Meeder Asset Management Inc. now owns 3,686 shares of the company’s stock worth $124,000 after buying an additional 3,086 shares during the last quarter. LS Investment Advisors LLC raised its position in PNM Resources by 72.6% in the second quarter. LS Investment Advisors LLC now owns 4,754 shares of the company’s stock worth $168,000 after buying an additional 2,000 shares during the last quarter. Boothbay Fund Management LLC acquired a new position in PNM Resources during the first quarter worth $200,000. Finally, Neuberger Berman Group LLC acquired a new position in PNM Resources during the second quarter worth $213,000. 92.60% of the stock is currently owned by institutional investors and hedge funds.
Shares of PNM Resources Inc. (NYSE:PNM) traded up 0.06% during trading on Wednesday, reaching $31.62. The company’s stock had a trading volume of 129,857 shares. PNM Resources Inc. has a 12-month low of $26.56 and a 12-month high of $36.15. The stock’s 50-day moving average is $32.71 and its 200-day moving average is $33.16. The stock has a market cap of $2.52 billion, a P/E ratio of 347.47 and a beta of 0.38.
PNM Resources (NYSE:PNM) last released its earnings results on Monday, August 8th. The company reported $0.40 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.39 by $0.01. PNM Resources had a return on equity of 7.00% and a net margin of 0.54%. The business earned $315.39 million during the quarter, compared to the consensus estimate of $379 million. During the same period last year, the business posted $0.44 earnings per share. The business’s revenue for the quarter was down 10.6% on a year-over-year basis. Equities research analysts anticipate that PNM Resources Inc. will post $1.58 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Monday, November 14th. Stockholders of record on Monday, October 31st will be given a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 2.78%. The ex-dividend date is Thursday, October 27th. PNM Resources’s dividend payout ratio (DPR) is presently 1,100.00%.
A number of research firms recently weighed in on PNM. Williams Capital reissued a “hold” rating on shares of PNM Resources in a report on Wednesday, September 21st. Zacks Investment Research upgraded PNM Resources from a “sell” rating to a “hold” rating in a research report on Friday, August 26th. Jefferies Group reiterated a “buy” rating and set a $37.50 target price on shares of PNM Resources in a research report on Thursday, September 29th. SunTrust Banks Inc. cut their target price on PNM Resources from $35.00 to $34.00 and set a “neutral” rating for the company in a research report on Monday, August 29th. Finally, Argus cut their target price on PNM Resources from $40.00 to $38.00 and set a “buy” rating for the company in a research report on Thursday, September 22nd. Three equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $36.21.
About PNM Resources
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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