Municipal Employees Retirement System of Michigan Sells 6,160 Shares of PNM Resources, Inc. (Holding Co.) (PNM)

Municipal Employees Retirement System of Michigan decreased its position in PNM Resources, Inc. (Holding Co.) (NYSE:PNM) by 16.7% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 30,750 shares of the utilities provider’s stock after selling 6,160 shares during the period. Municipal Employees Retirement System of Michigan’s holdings in PNM Resources, Inc. (Holding Co.) were worth $1,176,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of the company. IFP Advisors Inc increased its position in 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 increased its position in 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. Glen Harbor Capital Management LLC increased its position in 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. US Bancorp DE increased its position in 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. Finally, Envestnet Asset Management Inc. increased its position in PNM Resources, Inc. (Holding Co.) by 45.1% in the first quarter. Envestnet Asset Management Inc. now owns 4,825 shares of the utilities provider’s stock worth $178,000 after buying an additional 1,499 shares in the last quarter. Institutional investors own 93.82% of the company’s stock.

Shares of PNM Resources, Inc. (NYSE PNM) opened at 41.40 on Thursday. The company has a 50-day moving average of $39.01 and a 200 day moving average of $37.39. PNM Resources, Inc. has a 52 week low of $30.95 and a 52 week high of $42.20. The firm has a market capitalization of $3.30 billion, a P/E ratio of 23.79 and a beta of 0.32.

PNM Resources, Inc. (Holding Co.) (NYSE:PNM) last posted its quarterly earnings results on Friday, July 28th. The utilities provider reported $0.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.45 by $0.04. PNM Resources, Inc. (Holding Co.) had a net margin of 10.05% and a return on equity of 8.57%. The company had revenue of $362.32 million for the quarter. During the same period last year, the firm earned $0.40 EPS. Equities research analysts anticipate that PNM Resources, Inc. will post $1.85 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, August 14th. Stockholders of record on Monday, August 7th will be given a $0.2425 dividend. This represents a $0.97 annualized dividend and a dividend yield of 2.34%. The ex-dividend date is Thursday, August 3rd. PNM Resources, Inc. (Holding Co.)’s dividend payout ratio (DPR) is currently 55.43%.

ILLEGAL ACTIVITY WARNING: This article was originally reported by Sports Perspectives and is the sole property of of Sports Perspectives. If you are reading this article on another publication, it was illegally stolen and republished in violation of US & international copyright & trademark legislation. The original version of this article can be viewed at https://sportsperspectives.com/2017/08/10/municipal-employees-retirement-system-of-michigan-sells-6160-shares-of-pnm-resources-inc-holding-co-pnm.html.

A number of equities analysts have recently commented on the stock. Zacks Investment Research upgraded shares of PNM Resources, Inc. (Holding Co.) from a “sell” rating to a “hold” rating in a research note on Wednesday, August 2nd. Royal Bank Of Canada set a $39.00 price objective on shares of PNM Resources, Inc. (Holding Co.) and gave the stock a “buy” rating in a research note on Saturday, June 3rd. BidaskClub downgraded shares of PNM Resources, Inc. (Holding Co.) from a “hold” rating to a “sell” rating in a research note on Wednesday, July 19th. Mizuho assumed coverage on shares of PNM Resources, Inc. (Holding Co.) in a research note on Wednesday, April 19th. They set an “underperform” rating and a $32.25 price objective for the company. Finally, Jefferies Group LLC restated a “hold” rating and set a $38.00 price objective on shares of PNM Resources, Inc. (Holding Co.) in a research note on Friday, July 21st. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $36.47.

In other news, SVP Patrick V. Apodaca sold 5,333 shares of the business’s stock in a transaction that occurred on Wednesday, August 2nd. The shares were sold at an average price of $40.43, for a total value of $215,613.19. Following the sale, the senior vice president now owns 65,009 shares of the company’s stock, valued at $2,628,313.87. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Norman P. Becker purchased 2,500 shares of the stock in a transaction dated Monday, June 5th. The stock was acquired at an average cost of $38.98 per share, for a total transaction 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. Insiders own 1.26% of the company’s stock.

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

Want to see what other hedge funds are holding PNM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for PNM Resources, Inc. (Holding Co.) (NYSE:PNM).

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

Receive News & Ratings for PNM Resources Inc. (Holding Co.) Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PNM Resources Inc. (Holding Co.) and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply