Hsbc Holdings PLC lifted its stake in PNM Resources Inc (NYSE:PNM) by 186.2% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 90,744 shares of the utilities provider’s stock after buying an additional 59,042 shares during the quarter. Hsbc Holdings PLC owned about 0.11% of PNM Resources worth $3,729,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds and other institutional investors also recently bought and sold shares of PNM. BlackRock Inc. raised its stake in PNM Resources by 1.9% during the 4th quarter. BlackRock Inc. now owns 9,639,611 shares of the utilities provider’s stock valued at $396,091,000 after purchasing an additional 178,580 shares during the period. Vanguard Group Inc. raised its stake in PNM Resources by 1.1% during the 3rd quarter. Vanguard Group Inc. now owns 8,930,685 shares of the utilities provider’s stock valued at $352,315,000 after purchasing an additional 97,356 shares during the period. Vanguard Group Inc raised its stake in PNM Resources by 1.1% during the 3rd quarter. Vanguard Group Inc now owns 8,930,685 shares of the utilities provider’s stock valued at $352,315,000 after purchasing an additional 97,356 shares during the period. Renaissance Technologies LLC raised its stake in PNM Resources by 8.0% during the 3rd quarter. Renaissance Technologies LLC now owns 2,488,600 shares of the utilities provider’s stock valued at $98,175,000 after purchasing an additional 183,400 shares during the period. Finally, Alliancebernstein L.P. raised its stake in PNM Resources by 6.1% during the 3rd quarter. Alliancebernstein L.P. now owns 2,334,431 shares of the utilities provider’s stock valued at $92,093,000 after purchasing an additional 135,215 shares during the period. 90.06% of the stock is currently owned by hedge funds and other institutional investors.
A number of analysts have issued reports on PNM shares. Zacks Investment Research raised PNM Resources from a “hold” rating to a “buy” rating and set a $47.00 price objective on the stock in a research note on Saturday, January 12th. Bank of America reaffirmed an “underperform” rating and issued a $42.00 price objective (up previously from $39.00) on shares of PNM Resources in a research note on Tuesday, December 4th. Mizuho downgraded PNM Resources from a “neutral” rating to an “underperform” rating and reduced their price objective for the stock from $39.50 to $38.50 in a research note on Monday, January 14th. Finally, Barclays lifted their price objective on PNM Resources from $38.00 to $39.00 and gave the stock a “sell” rating in a research note on Monday, November 19th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $42.75.
NYSE:PNM opened at $47.17 on Friday. The company has a debt-to-equity ratio of 1.52, a quick ratio of 0.45 and a current ratio of 0.59. PNM Resources Inc has a 1 year low of $34.95 and a 1 year high of $47.39. The company has a market capitalization of $3.76 billion, a price-to-earnings ratio of 23.59, a PEG ratio of 4.74 and a beta of 0.28.
PNM Resources (NYSE:PNM) last released its quarterly earnings data on Wednesday, February 27th. The utilities provider reported $0.18 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.17 by $0.01. PNM Resources had a return on equity of 9.00% and a net margin of 5.98%. During the same period in the prior year, the business posted $0.24 EPS. On average, equities analysts expect that PNM Resources Inc will post 2.15 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 16th. Shareholders of record on Thursday, May 2nd will be paid a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a yield of 2.46%. The ex-dividend date is Wednesday, May 1st. PNM Resources’s payout ratio is 58.00%.
In other PNM Resources news, CFO Charles N. Eldred sold 14,000 shares of PNM Resources stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $44.64, for a total value of $624,960.00. Following the sale, the chief financial officer now owns 108,289 shares of the company’s stock, valued at approximately $4,834,020.96. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, VP Joseph Don Tarry sold 1,092 shares of PNM Resources stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $44.89, for a total value of $49,019.88. Following the completion of the sale, the vice president now directly owns 11,882 shares in the company, valued at approximately $533,382.98. The disclosure for this sale can be found here. In the last ninety days, insiders sold 24,953 shares of company stock worth $1,110,564. Corporate insiders own 1.25% of the company’s stock.
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About PNM Resources
PNM Resources, Inc, through its subsidiaries, engages in the energy and energy-related businesses 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 is primarily involved in the generation, transmission, and distribution of electricity.
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