Mason Street Advisors LLC bought a new position in PNM Resources Inc. (NYSE:PNM) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 36,325 shares of the company’s stock, valued at approximately $1,287,000.
Other large investors also recently made changes to their positions in the company. Capstone Asset Management Co. raised its stake in shares of PNM Resources by 0.6% in the second quarter. Capstone Asset Management Co. now owns 6,636 shares of the company’s stock worth $235,000 after buying an additional 40 shares during the period. Lynch & Associates IN raised its stake in shares of PNM Resources by 0.9% in the second quarter. Lynch & Associates IN now owns 7,335 shares of the company’s stock worth $260,000 after buying an additional 65 shares during the period. State Treasurer State of Michigan raised its stake in shares of PNM Resources by 0.3% in the second quarter. State Treasurer State of Michigan now owns 31,934 shares of the company’s stock worth $1,132,000 after buying an additional 100 shares during the period. Moody Lynn & Lieberson LLC raised its stake in shares of PNM Resources by 1.0% in the second quarter. Moody Lynn & Lieberson LLC now owns 14,830 shares of the company’s stock worth $526,000 after buying an additional 144 shares during the period. Finally, Chicago Equity Partners LLC raised its stake in shares of PNM Resources by 0.3% in the second quarter. Chicago Equity Partners LLC now owns 53,275 shares of the company’s stock worth $1,888,000 after buying an additional 170 shares during the period. 92.60% of the stock is currently owned by institutional investors.
PNM Resources Inc. (NYSE:PNM) opened at 34.21 on Thursday. The stock has a market cap of $2.72 billion, a P/E ratio of 375.93 and a beta of 0.24. The firm has a 50-day moving average price of $32.65 and a 200-day moving average price of $33.15. PNM Resources Inc. has a 52 week low of $26.12 and a 52 week high of $36.15.
PNM Resources (NYSE:PNM) last announced its quarterly earnings data 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 firm had revenue of $315.39 million for the quarter, compared to analyst estimates of $379 million. PNM Resources had a return on equity of 7.00% and a net margin of 0.54%. The business’s quarterly revenue was down 10.6% compared to the same quarter last year. During the same period last year, the company earned $0.44 EPS. On average, equities research analysts predict that PNM Resources Inc. will post $1.59 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 14th. Shareholders of record on Monday, October 31st will be given 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 yield of 2.57%. PNM Resources’s payout ratio is 1,100.00%.
A number of equities research analysts have recently issued reports on the company. Argus cut their target price on PNM Resources from $40.00 to $38.00 and set a “buy” rating on the stock in a research report on Thursday. SunTrust Banks Inc. cut their target price on PNM Resources from $34.00 to $33.00 and set a “neutral” rating on the stock in a research report on Monday, September 12th. Zacks Investment Research raised PNM Resources from a “sell” rating to a “hold” rating in a research report on Friday, August 26th. Jefferies Group reissued a “hold” rating on shares of PNM Resources in a research report on Monday, July 18th. Finally, TheStreet lowered PNM Resources from a “buy” rating to a “hold” rating in a research report on Friday, August 26th. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $35.67.
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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