BlackRock Inc. increased its stake in shares of PNM Resources, Inc. (Holding Co.) (NYSE:PNM) by 5.5% during the third quarter, Holdings Channel reports. The institutional investor owned 50,744 shares of the company’s stock after buying an additional 2,667 shares during the period. BlackRock Inc. owned approximately 0.06% of PNM Resources, Inc. (Holding Co.) worth $1,661,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of PNM. Tower Research Capital LLC TRC bought a new stake in PNM Resources, Inc. (Holding Co.) during the second quarter valued at about $163,000. LS Investment Advisors LLC boosted its stake in PNM Resources, Inc. (Holding Co.) by 72.6% in the second quarter. LS Investment Advisors LLC now owns 4,754 shares of the company’s stock valued at $168,000 after buying an additional 2,000 shares in the last quarter. Neuberger Berman Group LLC bought a new stake in PNM Resources, Inc. (Holding Co.) during the second quarter valued at about $213,000. Capstone Asset Management Co. boosted its stake in PNM Resources, Inc. (Holding Co.) by 1.2% in the third quarter. Capstone Asset Management Co. now owns 6,716 shares of the company’s stock valued at $220,000 after buying an additional 80 shares in the last quarter. Finally, Advisor Group Inc. bought a new stake in PNM Resources, Inc. (Holding Co.) during the second quarter valued at about $224,000. 92.63% of the stock is currently owned by hedge funds and other institutional investors.

Institutional Ownership by Quarter for PNM Resources, Inc. (Holding Co.) (NYSE:PNM)

PNM Resources, Inc. (NYSE:PNM) traded down 0.44% during trading on Friday, hitting $34.25. 469,142 shares of the stock traded hands. The company has a 50-day moving average price of $33.35 and a 200 day moving average price of $33.07. The stock has a market cap of $2.73 billion, a PE ratio of 6850.00 and a beta of 0.27. PNM Resources, Inc. has a one year low of $29.22 and a one year high of $36.15.

PNM Resources, Inc. (Holding Co.) (NYSE:PNM) last posted its quarterly earnings data on Friday, October 28th. The company reported $0.78 earnings per share for the quarter, beating the consensus estimate of $0.75 by $0.03. PNM Resources, Inc. (Holding Co.) had a return on equity of 7.14% and a net margin of 0.07%. The company earned $400.37 million during the quarter, compared to analysts’ expectations of $740 million. During the same period in the prior year, the business earned $0.76 earnings per share. PNM Resources, Inc. (Holding Co.)’s revenue for the quarter was down 4.1% compared to the same quarter last year. Analysts expect that PNM Resources, Inc. will post $1.61 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, February 13th. Stockholders of record on Monday, January 23rd will be given a $0.2425 dividend. This represents a $0.97 annualized dividend and a dividend yield of 2.83%. This is a boost from PNM Resources, Inc. (Holding Co.)’s previous quarterly dividend of $0.22. The ex-dividend date is Thursday, January 19th.

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Several analysts recently issued reports on PNM shares. Williams Capital raised shares of PNM Resources, Inc. (Holding Co.) from a “hold” rating to a “buy” rating and set a $35.00 price target on the stock in a report on Tuesday, October 4th. Jefferies Group reiterated a “buy” rating and set a $37.50 target price on shares of PNM Resources, Inc. (Holding Co.) in a research note on Thursday, September 29th. Argus lowered their target price on shares of PNM Resources, Inc. (Holding Co.) from $40.00 to $38.00 and set a “buy” rating for the company in a research note on Thursday, September 22nd. TheStreet upgraded shares of PNM Resources, Inc. (Holding Co.) from a “hold” rating to a “buy” rating in a research note on Wednesday, December 14th. Finally, Zacks Investment Research upgraded shares of PNM Resources, Inc. (Holding Co.) from a “hold” rating to a “buy” rating and set a $38.00 target price for the company in a research note on Thursday, December 22nd. Three research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $35.58.

About PNM Resources, Inc. (Holding Co.)

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).

5 Day Chart for NYSE:PNM

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