Panagora Asset Management Inc. Has $4.56 Million Holdings in PNM Resources, Inc. (NYSE:PNM)

Panagora Asset Management Inc. increased its stake in PNM Resources, Inc. (NYSE:PNMFree Report) by 64.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 102,238 shares of the utilities provider’s stock after buying an additional 39,879 shares during the quarter. Panagora Asset Management Inc. owned approximately 0.12% of PNM Resources worth $4,561,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in PNM. Great West Life Assurance Co. Can boosted its holdings in shares of PNM Resources by 8.2% in the 1st quarter. Great West Life Assurance Co. Can now owns 46,260 shares of the utilities provider’s stock valued at $2,263,000 after buying an additional 3,493 shares during the last quarter. Yousif Capital Management LLC boosted its holdings in shares of PNM Resources by 1.6% in the 1st quarter. Yousif Capital Management LLC now owns 45,120 shares of the utilities provider’s stock valued at $2,151,000 after buying an additional 724 shares during the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp acquired a new stake in shares of PNM Resources in the 1st quarter valued at approximately $5,387,000. Sei Investments Co. boosted its holdings in shares of PNM Resources by 114.7% in the 1st quarter. Sei Investments Co. now owns 238,673 shares of the utilities provider’s stock valued at $11,378,000 after buying an additional 127,483 shares during the last quarter. Finally, Allianz Asset Management GmbH raised its stake in PNM Resources by 0.8% in the 1st quarter. Allianz Asset Management GmbH now owns 391,228 shares of the utilities provider’s stock valued at $18,650,000 after acquiring an additional 2,959 shares during the period. Institutional investors and hedge funds own 91.18% of the company’s stock.

Analysts Set New Price Targets

PNM has been the topic of a number of research analyst reports. StockNews.com cut PNM Resources from a “hold” rating to a “sell” rating in a research note on Wednesday. Mizuho cut PNM Resources from a “buy” rating to a “neutral” rating and set a $41.00 price target on the stock. in a research note on Wednesday, January 3rd. TheStreet cut PNM Resources from a “b-” rating to a “c+” rating in a research note on Thursday, January 4th. Finally, Wells Fargo & Company upgraded PNM Resources from an “equal weight” rating to an “overweight” rating and set a $44.00 price target on the stock in a research note on Wednesday, January 3rd. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, PNM Resources has an average rating of “Hold” and a consensus target price of $47.75.

Get Our Latest Analysis on PNM Resources

PNM Resources Stock Down 1.8 %

PNM stock opened at $35.84 on Thursday. The company has a debt-to-equity ratio of 1.71, a current ratio of 0.33 and a quick ratio of 0.27. The stock has a market capitalization of $3.08 billion, a price-to-earnings ratio of 20.02, a PEG ratio of 0.36 and a beta of 0.37. The business’s fifty day moving average price is $41.42 and its two-hundred day moving average price is $43.31. PNM Resources, Inc. has a fifty-two week low of $35.36 and a fifty-two week high of $49.60.

PNM Resources (NYSE:PNMGet Free Report) last posted its quarterly earnings data on Friday, October 27th. The utilities provider reported $1.54 earnings per share for the quarter, topping the consensus estimate of $1.30 by $0.24. The firm had revenue of $505.85 million for the quarter, compared to analysts’ expectations of $908.51 million. PNM Resources had a return on equity of 10.58% and a net margin of 7.33%. During the same quarter last year, the business earned $1.46 EPS. On average, equities analysts anticipate that PNM Resources, Inc. will post 2.79 earnings per share for the current year.

PNM Resources Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, February 16th. Stockholders of record on Friday, February 2nd will be issued a dividend of $0.387 per share. This is a positive change from PNM Resources’s previous quarterly dividend of $0.37. This represents a $1.55 annualized dividend and a dividend yield of 4.32%. The ex-dividend date is Thursday, February 1st. PNM Resources’s dividend payout ratio is 82.12%.

About PNM Resources

(Free Report)

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.

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

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