Dorsey Wright & Associates Acquires New Holdings in PNM Resources, Inc. (Holding Co.) (PNM)

Dorsey Wright & Associates acquired a new stake in PNM Resources, Inc. (Holding Co.) (NYSE:PNM) in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 55,781 shares of the utilities provider’s stock, valued at approximately $2,248,000. Dorsey Wright & Associates owned 0.07% of PNM Resources, Inc. (Holding Co.) at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the company. New York State Common Retirement Fund lifted its holdings in shares of PNM Resources, Inc. (Holding Co.) by 0.3% during the second quarter. New York State Common Retirement Fund now owns 137,079 shares of the utilities provider’s stock worth $5,243,000 after purchasing an additional 395 shares during the period. Comerica Bank raised its position in PNM Resources, Inc. (Holding Co.) by 0.7% in the second quarter. Comerica Bank now owns 62,790 shares of the utilities provider’s stock worth $2,439,000 after acquiring an additional 454 shares in the last quarter. Mutual of America Capital Management LLC raised its position in PNM Resources, Inc. (Holding Co.) by 0.3% in the second quarter. Mutual of America Capital Management LLC now owns 178,577 shares of the utilities provider’s stock worth $6,831,000 after acquiring an additional 458 shares in the last quarter. Arizona State Retirement System raised its position in PNM Resources, Inc. (Holding Co.) by 1.5% in the second quarter. Arizona State Retirement System now owns 33,600 shares of the utilities provider’s stock worth $1,285,000 after acquiring an additional 500 shares in the last quarter. Finally, Moody Lynn & Lieberson LLC raised its position in PNM Resources, Inc. (Holding Co.) by 3.9% in the second quarter. Moody Lynn & Lieberson LLC now owns 14,877 shares of the utilities provider’s stock worth $569,000 after acquiring an additional 555 shares in the last quarter. 93.32% of the stock is owned by institutional investors and hedge funds.

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PNM Resources, Inc. (PNM) traded up $0.40 during trading on Tuesday, reaching $43.80. The company had a trading volume of 692,200 shares, compared to its average volume of 590,159. The stock has a market cap of $3,456.97, a PE ratio of 21.27, a PEG ratio of 4.27 and a beta of 0.36. PNM Resources, Inc. has a 1 year low of $31.00 and a 1 year high of $44.15. The company has a current ratio of 0.53, a quick ratio of 0.43 and a debt-to-equity ratio of 1.25.

PNM Resources, Inc. (Holding Co.) (NYSE:PNM) last posted its quarterly earnings data on Friday, October 27th. The utilities provider reported $0.93 EPS for the quarter, topping analysts’ consensus estimates of $0.85 by $0.08. The firm had revenue of $419.90 million during the quarter, compared to analysts’ expectations of $422.71 million. PNM Resources, Inc. (Holding Co.) had a return on equity of 9.18% and a net margin of 11.27%. During the same quarter last year, the business posted $0.78 EPS. equities research analysts predict that PNM Resources, Inc. will post 1.86 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 14th. Investors of record on Monday, October 30th will be given a dividend of $0.2425 per share. This represents a $0.97 dividend on an annualized basis and a yield of 2.21%. The ex-dividend date of this dividend is Friday, October 27th. PNM Resources, Inc. (Holding Co.)’s dividend payout ratio is presently 48.74%.

PNM has been the subject of several research analyst reports. Zacks Investment Research cut PNM Resources, Inc. (Holding Co.) from a “hold” rating to a “sell” rating in a research report on Thursday, July 20th. ValuEngine cut PNM Resources, Inc. (Holding Co.) from a “buy” rating to a “hold” rating in a research report on Friday, September 22nd. Jefferies Group LLC reiterated a “hold” rating and issued a $38.00 price objective on shares of PNM Resources, Inc. (Holding Co.) in a research report on Friday, July 21st. KeyCorp reiterated a “hold” rating on shares of PNM Resources, Inc. (Holding Co.) in a research report on Friday, September 1st. Finally, Wells Fargo & Company started coverage on PNM Resources, Inc. (Holding Co.) in a research report on Friday, September 22nd. They issued a “market perform” rating and a $42.00 price target for the company. Four research analysts have rated the stock with a sell rating, eight have assigned a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $39.74.

PNM Resources, Inc. (Holding Co.) 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, Inc. (Holding Co.) (NYSE:PNM)

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