PNM Resources, Inc. (Holding Co.) (NYSE:PNM)’s share price reached a new 52-week high on Tuesday . The company traded as high as $42.25 and last traded at $42.23, with a volume of 179,629 shares traded. The stock had previously closed at $41.80.

A number of equities analysts have weighed in on the stock. Zacks Investment Research lowered shares of PNM Resources, Inc. (Holding Co.) from a “hold” rating to a “sell” rating in a research report on Thursday, July 20th. Argus restated a “buy” rating and set a $41.40 target price (down previously from $43.00) on shares of PNM Resources, Inc. (Holding Co.) in a research report on Friday, August 11th. BidaskClub upgraded shares of PNM Resources, Inc. (Holding Co.) from a “sell” rating to a “hold” rating in a research report on Friday, July 28th. Royal Bank Of Canada set a $39.00 target price on shares of PNM Resources, Inc. (Holding Co.) and gave the stock a “buy” rating in a research report on Saturday, June 3rd. Finally, Ladenburg Thalmann Financial Services lowered shares of PNM Resources, Inc. (Holding Co.) from a “buy” rating to a “neutral” rating and set a $41.00 target price for the company. in a research report on Friday, August 18th. One analyst has rated the stock with a sell rating, eight have issued a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $37.27.

The firm has a market cap of $3.39 billion, a P/E ratio of 24.43 and a beta of 0.32. The stock’s 50 day moving average price is $39.76 and its 200-day moving average price is $37.95.

PNM Resources, Inc. (Holding Co.) (NYSE:PNM) last announced its quarterly earnings results on Friday, July 28th. The utilities provider reported $0.49 earnings per share for the quarter, beating analysts’ consensus estimates of $0.45 by $0.04. PNM Resources, Inc. (Holding Co.) had a return on equity of 8.57% and a net margin of 10.05%. The business had revenue of $362.32 million during the quarter. During the same quarter in the prior year, the business earned $0.40 EPS. On average, analysts forecast that PNM Resources, Inc. will post $1.85 EPS for the current year.

The company also recently declared a quarterly dividend, which was paid on Monday, August 14th. Stockholders of record on Monday, August 7th were given a $0.2425 dividend. This represents a $0.97 dividend on an annualized basis and a dividend yield of 2.28%. The ex-dividend date of this dividend was Thursday, August 3rd. PNM Resources, Inc. (Holding Co.)’s dividend payout ratio is currently 55.43%.

In other news, SVP Patrick V. Apodaca sold 5,333 shares of the firm’s stock in a transaction on Wednesday, August 2nd. The stock was sold at an average price of $40.43, for a total value of $215,613.19. Following the completion of the transaction, the senior vice president now owns 65,009 shares in the company, valued at $2,628,313.87. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Norman P. Becker purchased 2,500 shares of the company’s stock in a transaction dated Monday, June 5th. The stock was purchased at an average price of $38.98 per share, with a total value of $97,450.00. Following the transaction, the director now owns 5,732 shares of the company’s stock, valued at $223,433.36. The disclosure for this purchase can be found here. Company insiders own 1.26% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in PNM. IFP Advisors Inc boosted its position in shares of PNM Resources, Inc. (Holding Co.) by 211.8% in the first quarter. IFP Advisors Inc now owns 2,987 shares of the utilities provider’s stock worth $111,000 after buying an additional 2,029 shares in the last quarter. Meadow Creek Investment Management LLC boosted its position in shares of PNM Resources, Inc. (Holding Co.) by 3.9% in the first quarter. Meadow Creek Investment Management LLC now owns 3,542 shares of the utilities provider’s stock worth $131,000 after buying an additional 132 shares in the last quarter. Flinton Capital Management LLC boosted its position in shares of PNM Resources, Inc. (Holding Co.) by 71.4% in the second quarter. Flinton Capital Management LLC now owns 4,416 shares of the utilities provider’s stock worth $169,000 after buying an additional 1,840 shares in the last quarter. Glen Harbor Capital Management LLC boosted its position in shares of PNM Resources, Inc. (Holding Co.) by 3.9% in the first quarter. Glen Harbor Capital Management LLC now owns 4,508 shares of the utilities provider’s stock worth $167,000 after buying an additional 168 shares in the last quarter. Finally, US Bancorp DE boosted its position in shares of PNM Resources, Inc. (Holding Co.) by 23.7% in the second quarter. US Bancorp DE now owns 4,716 shares of the utilities provider’s stock worth $181,000 after buying an additional 905 shares in the last quarter. Institutional investors and hedge funds own 94.73% of the company’s stock.

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PNM Resources, Inc. (Holding Co.) 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 (PNM) and Texas-New Mexico Power Company (TNMP). It operates in three segments: PNM, TNMP, and Corporate and Other.

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