Capstone Asset Management Co. Buys 80 Shares of PNM Resources Inc. (PNM)
Capstone Asset Management Co. increased its stake in PNM Resources Inc. (NYSE:PNM) by 1.2% during the third quarter, Holdings Channel reports. The firm owned 6,716 shares of the company’s stock after buying an additional 80 shares during the period. Capstone Asset Management Co.’s holdings in PNM Resources were worth $220,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. increased its position in PNM Resources by 4.1% in the second quarter. Vanguard Group Inc. now owns 6,440,193 shares of the company’s stock valued at $228,240,000 after buying an additional 254,750 shares during the period. BlackRock Fund Advisors boosted its position in PNM Resources by 3.6% in the second quarter. BlackRock Fund Advisors now owns 4,056,931 shares of the company’s stock valued at $143,778,000 after buying an additional 140,885 shares in the last quarter. State Street Corp boosted its position in PNM Resources by 1.8% in the first quarter. State Street Corp now owns 2,726,625 shares of the company’s stock valued at $91,943,000 after buying an additional 49,025 shares in the last quarter. Goldman Sachs Group Inc. boosted its position in PNM Resources by 11.8% in the first quarter. Goldman Sachs Group Inc. now owns 2,650,254 shares of the company’s stock valued at $89,366,000 after buying an additional 278,752 shares in the last quarter. Finally, BlackRock Institutional Trust Company N.A. boosted its position in PNM Resources by 3.0% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 2,373,575 shares of the company’s stock valued at $84,119,000 after buying an additional 69,034 shares in the last quarter. 92.60% of the stock is currently owned by hedge funds and other institutional investors.
Shares of PNM Resources Inc. (NYSE:PNM) traded up 1.02% during midday trading on Wednesday, hitting $31.55. The company had a trading volume of 285,742 shares. The company has a market capitalization of $2.51 billion, a PE ratio of 346.70 and a beta of 0.38. The company has a 50-day moving average of $32.50 and a 200-day moving average of $33.09. PNM Resources Inc. has a 12 month low of $26.56 and a 12 month high of $36.15.
PNM Resources (NYSE:PNM) last released its quarterly earnings results on Monday, August 8th. The company reported $0.40 earnings per share for the quarter, topping analysts’ consensus estimates of $0.39 by $0.01. The company earned $315.39 million during the quarter, compared to analysts’ expectations of $379 million. PNM Resources had a return on equity of 7.00% and a net margin of 0.54%. PNM Resources’s quarterly revenue was down 10.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.44 EPS. Analysts predict that PNM Resources Inc. will post $1.58 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Monday, November 14th. Shareholders of record on Monday, October 31st will be issued a dividend of $0.22 per share. The ex-dividend date of this dividend is Thursday, October 27th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.79%. PNM Resources’s payout ratio is currently 1,100.00%.
Several research firms have weighed in on PNM. Williams Capital restated a “hold” rating on shares of PNM Resources in a report on Wednesday, September 21st. SunTrust Banks Inc. raised their price target on PNM Resources from $34.00 to $35.00 and gave the company a “neutral” rating in a report on Monday, September 26th. Argus dropped their target price on PNM Resources from $40.00 to $38.00 and set a “buy” rating for the company in a report on Thursday, September 22nd. Jefferies Group reiterated a “hold” rating on shares of PNM Resources in a report on Monday, July 18th. Finally, Zacks Investment Research upgraded PNM Resources from a “sell” rating to a “hold” rating in a report on Wednesday, September 28th. Three analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. PNM Resources currently has an average rating of “Buy” and an average price target of $36.21.
PNM Resources Company Profile
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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