Dorsey Wright & Associates Has $2.35 Million Stake in PNM Resources Inc (PNM)

Dorsey Wright & Associates increased its stake in shares of PNM Resources Inc (NYSE:PNM) by 4.1% during the 4th quarter, Holdings Channel reports. The firm owned 58,059 shares of the utilities provider’s stock after purchasing an additional 2,278 shares during the quarter. Dorsey Wright & Associates’ holdings in PNM Resources were worth $2,348,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Public Employees Retirement System of Ohio boosted its holdings in PNM Resources by 181.0% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 20,951 shares of the utilities provider’s stock valued at $801,000 after acquiring an additional 13,495 shares during the period. Aperio Group LLC boosted its holdings in PNM Resources by 23.6% during the 3rd quarter. Aperio Group LLC now owns 63,845 shares of the utilities provider’s stock valued at $2,573,000 after acquiring an additional 12,176 shares during the period. World Asset Management Inc purchased a new position in PNM Resources during the 3rd quarter valued at $206,000. Bessemer Group Inc. boosted its holdings in PNM Resources by 15.7% during the 3rd quarter. Bessemer Group Inc. now owns 11,059 shares of the utilities provider’s stock valued at $446,000 after acquiring an additional 1,500 shares during the period. Finally, SG Americas Securities LLC boosted its holdings in PNM Resources by 9.6% during the 3rd quarter. SG Americas Securities LLC now owns 27,187 shares of the utilities provider’s stock valued at $1,096,000 after acquiring an additional 2,382 shares during the period. 91.86% of the stock is currently owned by hedge funds and other institutional investors.

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In other PNM Resources news, CFO Charles N. Eldred sold 1,500 shares of the company’s stock in a transaction on Friday, March 2nd. The stock was sold at an average price of $35.55, for a total value of $53,325.00. Following the completion of the sale, the chief financial officer now directly owns 115,888 shares in the company, valued at approximately $4,119,818.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Ronald N. Darnell sold 3,162 shares of the company’s stock in a transaction on Monday, March 5th. The stock was sold at an average price of $35.95, for a total value of $113,673.90. Following the completion of the sale, the senior vice president now owns 29,726 shares of the company’s stock, valued at $1,068,649.70. The disclosure for this sale can be found here. Insiders sold a total of 7,616 shares of company stock valued at $272,457 over the last quarter. Company insiders own 1.26% of the company’s stock.

A number of equities analysts recently issued reports on PNM shares. Mizuho upgraded PNM Resources from an “underperform” rating to a “neutral” rating and set a $37.00 price objective for the company in a report on Tuesday, January 23rd. Zacks Investment Research cut PNM Resources from a “buy” rating to a “hold” rating in a report on Tuesday, December 26th. SunTrust Banks set a $38.00 price objective on PNM Resources and gave the company a “hold” rating in a report on Wednesday, January 3rd. Finally, Wells Fargo & Co set a $38.00 price objective on PNM Resources and gave the company a “hold” rating in a report on Wednesday, February 28th. Four research analysts have rated the stock with a sell rating, eight have assigned a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. PNM Resources currently has an average rating of “Hold” and a consensus target price of $38.66.

Shares of PNM Resources Inc (PNM) opened at $35.70 on Friday. PNM Resources Inc has a 1-year low of $33.75 and a 1-year high of $46.00. The firm has a market capitalization of $2,840.00, a price-to-earnings ratio of 26.06, a price-to-earnings-growth ratio of 3.33 and a beta of 0.34. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.35 and a quick ratio of 0.27.

PNM Resources (NYSE:PNM) last issued its earnings results on Tuesday, February 27th. The utilities provider reported $0.24 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.19 by $0.05. PNM Resources had a return on equity of 8.71% and a net margin of 5.55%. The business had revenue of $332.61 million during the quarter, compared to analysts’ expectations of $330.25 million. During the same period in the prior year, the business earned $0.34 EPS. sell-side analysts predict that PNM Resources Inc will post 1.83 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 16th. Shareholders of record on Wednesday, May 2nd will be issued a $0.265 dividend. This represents a $1.06 annualized dividend and a dividend yield of 2.97%. The ex-dividend date of this dividend is Tuesday, May 1st. PNM Resources’s dividend payout ratio is 77.37%.

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PNM Resources 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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Institutional Ownership by Quarter for PNM Resources (NYSE:PNM)

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