PNM Resources, Inc. (NYSE:PNM) Shares Acquired by Segantii Capital Management Ltd

Segantii Capital Management Ltd boosted its holdings in PNM Resources, Inc. (NYSE:PNM) by 111.6% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 736,439 shares of the utilities provider’s stock after acquiring an additional 388,436 shares during the period. PNM Resources accounts for about 1.6% of Segantii Capital Management Ltd’s portfolio, making the stock its 16th largest holding. Segantii Capital Management Ltd owned approximately 0.86% of PNM Resources worth $30,636,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. International Assets Investment Management LLC raised its position in PNM Resources by 4,061.5% in the fourth quarter. International Assets Investment Management LLC now owns 1,082 shares of the utilities provider’s stock valued at $45,000 after purchasing an additional 1,056 shares during the period. Fifth Third Bancorp boosted its stake in shares of PNM Resources by 64.7% in the third quarter. Fifth Third Bancorp now owns 1,100 shares of the utilities provider’s stock valued at $49,000 after purchasing an additional 432 shares during the period. Allworth Financial LP increased its stake in PNM Resources by 59.5% during the 3rd quarter. Allworth Financial LP now owns 1,088 shares of the utilities provider’s stock worth $49,000 after buying an additional 406 shares during the period. Millburn Ridgefield Corp acquired a new stake in PNM Resources during the 3rd quarter worth approximately $66,000. Finally, Catalyst Capital Advisors LLC purchased a new position in PNM Resources in the 3rd quarter valued at approximately $66,000. 91.68% of the stock is currently owned by hedge funds and other institutional investors.

PNM Resources Trading Up 0.6 %

Shares of PNM traded up $0.24 during mid-day trading on Thursday, hitting $38.21. The company had a trading volume of 560,680 shares, compared to its average volume of 1,317,606. PNM Resources, Inc. has a 1-year low of $34.63 and a 1-year high of $48.48. The company has a quick ratio of 0.31, a current ratio of 0.39 and a debt-to-equity ratio of 1.77. The business’s 50-day simple moving average is $37.07 and its 200-day simple moving average is $39.03. The stock has a market cap of $3.45 billion, a PE ratio of 41.91, a P/E/G ratio of 3.04 and a beta of 0.35.

PNM Resources (NYSE:PNM) last released its quarterly earnings data on Tuesday, April 30th. The utilities provider reported $0.41 earnings per share for the quarter, missing the consensus estimate of $0.68 by ($0.27). The firm had revenue of $436.90 million during the quarter, compared to analyst estimates of $531.00 million. PNM Resources had a net margin of 4.38% and a return on equity of 9.99%. The business’s revenue for the quarter was down 19.7% on a year-over-year basis. During the same period in the prior year, the firm earned $0.55 earnings per share. Sell-side analysts forecast that PNM Resources, Inc. will post 2.71 earnings per share for the current year.

PNM Resources Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 10th. Shareholders of record on Friday, April 26th will be given a $0.387 dividend. This represents a $1.55 annualized dividend and a yield of 4.05%. The ex-dividend date of this dividend is Thursday, April 25th. PNM Resources’s dividend payout ratio (DPR) is 170.33%.

Wall Street Analysts Forecast Growth

PNM has been the topic of several research analyst reports. StockNews.com lowered shares of PNM Resources from a “hold” rating to a “sell” rating in a research note on Wednesday, January 17th. Barclays raised their price target on PNM Resources from $40.00 to $43.00 and gave the stock an “overweight” rating in a report on Monday, April 15th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $46.80.

PNM Resources Company Profile

PNM Resources, Inc, through its subsidiaries, provides electricity and electric services in the United States. It operates through Public Service Company of New Mexico (PNM) and Texas-New Mexico Power Company (TNMP) segments. The PNM segment engages in the generation, transmission, and distribution of electricity.