Strs Ohio Has $1,226,000 Stake in PNM Resources Inc. (PNM)
Strs Ohio cut its position in PNM Resources Inc. (NYSE:PNM) by 16.6% during the second quarter, Holdings Channel reports. The fund owned 34,600 shares of the company’s stock after selling 6,900 shares during the period. Strs Ohio’s holdings in PNM Resources were worth $1,226,000 at the end of the most recent reporting period.
Several other hedge funds have also added to or reduced their stakes in PNM. State Street Corp raised its stake in PNM Resources by 1.8% in the first quarter. State Street Corp now owns 2,726,625 shares of the company’s stock worth $91,943,000 after buying an additional 49,025 shares during the last quarter. Renaissance Technologies LLC raised its stake in PNM Resources by 58.3% in the first quarter. Renaissance Technologies LLC now owns 848,800 shares of the company’s stock worth $28,622,000 after buying an additional 312,700 shares during the last quarter. BlackRock Group LTD raised its stake in PNM Resources by 95.9% in the first quarter. BlackRock Group LTD now owns 102,365 shares of the company’s stock worth $3,452,000 after buying an additional 50,099 shares during the last quarter. Aperio Group LLC raised its stake in PNM Resources by 19.8% in the first quarter. Aperio Group LLC now owns 33,771 shares of the company’s stock worth $1,139,000 after buying an additional 5,593 shares during the last quarter. Finally, TPH Asset Management LLC acquired a new stake in PNM Resources during the first quarter worth $261,000. Hedge funds and other institutional investors own 92.60% of the company’s stock.
PNM Resources Inc. (NYSE:PNM) traded up 1.02% during trading on Wednesday, reaching $31.55. 286,145 shares of the company’s stock traded hands. The stock has a market cap of $2.51 billion, a P/E ratio of 346.70 and a beta of 0.38. The firm’s 50 day moving average price is $32.50 and its 200-day moving average price is $33.09. PNM Resources Inc. has a one year low of $26.56 and a one year high of $36.15.
PNM Resources (NYSE:PNM) last announced its earnings results on Monday, August 8th. The company reported $0.40 EPS for the quarter, beating analysts’ consensus estimates of $0.39 by $0.01. The business had revenue of $315.39 million for the quarter, compared to analysts’ expectations of $379 million. PNM Resources had a net margin of 0.54% and a return on equity of 7.00%. The company’s quarterly revenue was down 10.6% on a year-over-year basis. During the same period in the previous year, the company posted $0.44 EPS. On average, equities analysts anticipate that PNM Resources Inc. will post $1.58 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, November 14th. Stockholders of record on Monday, October 31st will be issued a $0.22 dividend. 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 1,100.00%.
A number of analysts recently issued reports on the stock. SunTrust Banks Inc. lowered their price target on shares of PNM Resources from $35.00 to $34.00 and set a “neutral” rating on the stock in a report on Monday, August 29th. Jefferies Group reissued a “buy” rating and set a $37.50 price target on shares of PNM Resources in a report on Thursday, September 29th. Zacks Investment Research raised shares of PNM Resources from a “sell” rating to a “hold” rating in a report on Thursday, September 15th. TheStreet downgraded shares of PNM Resources from a “buy” rating to a “hold” rating in a report on Friday, August 26th. Finally, Williams Capital reissued a “hold” rating on shares of PNM Resources in a report on Wednesday, September 21st. Three research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. PNM Resources has an average rating of “Buy” and a consensus 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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