Moody Lynn & Lieberson LLC Increases Stake in PNM Resources Inc. (PNM)
Moody Lynn & Lieberson LLC boosted its position in PNM Resources Inc. (NYSE:PNM) by 1.0% during the second quarter, Holdings Channel reports. The fund owned 14,830 shares of the company’s stock after buying an additional 144 shares during the period. Moody Lynn & Lieberson LLC’s holdings in PNM Resources were worth $526,000 at the end of the most recent reporting period.
A number of other large investors also recently made changes to their positions in PNM. Renaissance Technologies LLC increased its stake in shares of PNM Resources by 58.3% in the first quarter. Renaissance Technologies LLC now owns 848,800 shares of the company’s stock valued at $28,622,000 after buying an additional 312,700 shares during the period. Goldman Sachs Group Inc. increased its stake in shares of 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 during the period. Phocas Financial Corp. bought a new stake in shares of PNM Resources during the first quarter valued at about $7,403,000. Bank of Montreal Can bought a new stake in shares of PNM Resources during the second quarter valued at about $6,014,000. Finally, Nuveen Asset Management LLC increased its stake in shares of PNM Resources by 54.3% in the first quarter. Nuveen Asset Management LLC now owns 344,704 shares of the company’s stock valued at $11,623,000 after buying an additional 121,375 shares during the period. Institutional investors and hedge funds own 92.58% of the company’s stock.
PNM Resources Inc. (NYSE:PNM) traded up 0.46% on Wednesday, hitting $32.45. The stock had a trading volume of 362,403 shares. The company has a market capitalization of $2.58 billion, a price-to-earnings ratio of 356.59 and a beta of 0.38. The firm has a 50-day moving average of $32.40 and a 200 day moving average of $33.03. PNM Resources Inc. has a 52 week low of $26.56 and a 52 week high of $36.15.
PNM Resources (NYSE:PNM) last released its earnings results on Monday, August 8th. The company reported $0.40 EPS for the quarter, beating the Zacks’ consensus estimate 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%. The firm’s revenue for the quarter was down 10.6% compared to the same quarter last year. During the same quarter last year, the business posted $0.44 EPS. On average, 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. Stockholders of record on Monday, October 31st will be paid a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.71%. The ex-dividend date of this dividend is Thursday, October 27th. PNM Resources’s payout ratio is presently 1,100.00%.
Several equities research analysts recently issued reports on PNM shares. TheStreet downgraded PNM Resources from a “buy” rating to a “hold” rating in a report on Friday, August 26th. Zacks Investment Research upgraded PNM Resources from a “sell” rating to a “hold” rating in a report on Friday, August 26th. SunTrust Banks Inc. decreased their price target on PNM Resources from $35.00 to $34.00 and set a “neutral” rating for the company in a report on Monday, August 29th. Jefferies Group reiterated a “buy” rating and set a $37.50 price target on shares of PNM Resources in a report on Thursday, September 29th. Finally, Williams Capital reiterated a “hold” rating on shares of PNM Resources in a report on Wednesday, September 21st. Three investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. PNM Resources has a consensus 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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