Goldman Sachs Group Inc. lowered its stake in PNM Resources Inc (NYSE:PNM) by 0.8% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 2,421,526 shares of the utilities provider’s stock after selling 19,851 shares during the quarter. Goldman Sachs Group Inc. owned 3.04% of PNM Resources worth $97,950,000 at the end of the most recent quarter.
A number of other hedge funds also recently made changes to their positions in PNM. Bessemer Group Inc. lifted its position in PNM Resources by 15.7% in the third quarter. Bessemer Group Inc. now owns 11,059 shares of the utilities provider’s stock valued at $446,000 after purchasing an additional 1,500 shares during the last quarter. Dorsey Wright & Associates bought a new stake in PNM Resources in the third quarter valued at approximately $2,248,000. SG Americas Securities LLC lifted its position in PNM Resources by 9.6% in the third quarter. SG Americas Securities LLC now owns 27,187 shares of the utilities provider’s stock valued at $1,096,000 after purchasing an additional 2,382 shares during the last quarter. 361 Capital LLC bought a new stake in PNM Resources in the third quarter valued at approximately $2,034,000. Finally, Van ECK Associates Corp bought a new stake in PNM Resources in the third quarter valued at approximately $374,000. Hedge funds and other institutional investors own 91.80% of the company’s stock.
In other news, CFO Charles N. Eldred sold 1,500 shares of the 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 sale, the chief financial officer now directly owns 115,888 shares of the company’s stock, valued at $4,119,818.40. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, VP Joseph Don Tarry sold 2,954 shares of the stock in a transaction on Monday, March 5th. The stock was sold at an average price of $35.70, for a total value of $105,457.80. Following the completion of the sale, the vice president now directly owns 13,845 shares in the company, valued at $494,266.50. The disclosure for this sale can be found here. Over the last three months, insiders sold 7,616 shares of company stock worth $272,457. Insiders own 1.26% of the company’s stock.
Shares of PNM Resources Inc (NYSE PNM) opened at $36.15 on Wednesday. The firm has a market capitalization of $2,883.46, a price-to-earnings ratio of 36.15, a P/E/G ratio of 3.38 and a beta of 0.34. PNM Resources Inc has a 12 month low of $33.75 and a 12 month high of $46.00. The company has a quick ratio of 0.27, a current ratio of 0.35 and a debt-to-equity ratio of 1.24.
PNM Resources (NYSE:PNM) last issued its quarterly 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 company had revenue of $332.61 million for the quarter, compared to analysts’ expectations of $330.25 million. During the same period in the prior year, the firm earned $0.34 earnings per share. analysts predict that PNM Resources Inc will post 1.86 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 16th. Stockholders of record on Wednesday, May 2nd will be paid a $0.265 dividend. The ex-dividend date is Tuesday, May 1st. This represents a $1.06 dividend on an annualized basis and a dividend yield of 2.93%. PNM Resources’s dividend payout ratio is currently 106.00%.
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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 (PNM) and Texas-New Mexico Power Company (TNMP). It operates in three segments: PNM, TNMP, and Corporate and Other.
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