PNM Resources Inc. (PNM) Declares $0.22 Quarterly Dividend
PNM Resources Inc. (NYSE:PNM) declared a quarterly dividend on Tuesday, September 20th. Investors of record on Monday, October 31st will be given a dividend of 0.22 per share on Monday, November 14th. This represents a $0.88 annualized dividend and a dividend yield of 2.63%.
Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Point72 Asset Management L.P. acquired a new position in PNM Resources during the second quarter valued at approximately $2,892,000. AQR Capital Management LLC raised its position in PNM Resources by 5.2% in the second quarter. AQR Capital Management LLC now owns 819,299 shares of the company’s stock valued at $29,036,000 after buying an additional 40,485 shares during the last quarter. Capstone Investment Advisors LLC raised its position in PNM Resources by 41.3% in the second quarter. Capstone Investment Advisors LLC now owns 18,232 shares of the company’s stock valued at $646,000 after buying an additional 5,332 shares during the last quarter. Guggenheim Capital LLC raised its position in PNM Resources by 14.6% in the second quarter. Guggenheim Capital LLC now owns 90,594 shares of the company’s stock valued at $3,211,000 after buying an additional 11,547 shares during the last quarter. Finally, Barclays PLC raised its position in PNM Resources by 5.8% in the second quarter. Barclays PLC now owns 10,443 shares of the company’s stock valued at $371,000 after buying an additional 569 shares during the last quarter. 93.15% of the stock is owned by institutional investors and hedge funds.
PNM Resources (NYSE:PNM) traded up 1.48% during mid-day trading on Tuesday, hitting $33.50. 719,773 shares of the stock traded hands. The stock has a market cap of $2.67 billion, a PE ratio of 368.13 and a beta of 0.24. The company has a 50 day moving average of $32.67 and a 200-day moving average of $33.14. PNM Resources has a 12-month low of $25.92 and a 12-month high of $36.15.
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PNM Resources (NYSE:PNM) last posted its quarterly earnings data on Monday, August 8th. The company reported $0.40 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.39 by $0.01. PNM Resources had a net margin of 0.54% and a return on equity of 7.00%. The business earned $315.39 million during the quarter, compared to analyst estimates of $379 million. During the same quarter last year, the firm posted $0.44 earnings per share. The business’s revenue for the quarter was down 10.6% compared to the same quarter last year. Equities research analysts forecast that PNM Resources will post $1.59 earnings per share for the current year.
Several research analysts recently commented on PNM shares. Zacks Investment Research upgraded shares of PNM Resources from a “sell” rating to a “hold” rating in a research note on Thursday, September 15th. TheStreet lowered shares of PNM Resources from a “buy” rating to a “hold” rating in a research note on Friday, August 26th. Jefferies Group reiterated a “hold” rating on shares of PNM Resources in a research note on Monday, July 18th. Finally, SunTrust Banks Inc. reduced their price objective on shares of PNM Resources from $34.00 to $33.00 and set a “neutral” rating for the company in a research note on Monday, September 12th. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. PNM Resources presently has a consensus rating of “Buy” and a consensus 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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