PNM Resources Inc (NYSE:PNM) Shares Sold by First Trust Advisors LP

First Trust Advisors LP lessened its holdings in shares of PNM Resources Inc (NYSE:PNM) by 7.9% during the third quarter, HoldingsChannel reports. The firm owned 13,100 shares of the utilities provider’s stock after selling 1,120 shares during the quarter. First Trust Advisors LP’s holdings in PNM Resources were worth $682,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the business. Mackay Shields LLC acquired a new stake in shares of PNM Resources during the third quarter worth $2,598,000. Russell Investments Group Ltd. grew its position in PNM Resources by 61.3% during the third quarter. Russell Investments Group Ltd. now owns 60,311 shares of the utilities provider’s stock valued at $3,140,000 after buying an additional 22,916 shares during the period. Dorsey Wright & Associates increased its holdings in PNM Resources by 1.0% in the third quarter. Dorsey Wright & Associates now owns 69,043 shares of the utilities provider’s stock valued at $3,596,000 after buying an additional 669 shares in the last quarter. California Public Employees Retirement System increased its holdings in PNM Resources by 47.2% in the third quarter. California Public Employees Retirement System now owns 164,788 shares of the utilities provider’s stock valued at $8,582,000 after buying an additional 52,804 shares in the last quarter. Finally, Commonwealth Equity Services LLC raised its position in shares of PNM Resources by 7.3% in the third quarter. Commonwealth Equity Services LLC now owns 5,269 shares of the utilities provider’s stock worth $274,000 after acquiring an additional 357 shares during the period. 90.69% of the stock is currently owned by institutional investors.

PNM opened at $48.63 on Wednesday. The company has a quick ratio of 0.28, a current ratio of 0.36 and a debt-to-equity ratio of 1.48. The company has a market cap of $3.86 billion, a price-to-earnings ratio of 24.32, a PEG ratio of 4.13 and a beta of 0.15. PNM Resources Inc has a 52-week low of $39.51 and a 52-week high of $52.98. The firm’s fifty day simple moving average is $49.77 and its two-hundred day simple moving average is $50.12.

PNM Resources (NYSE:PNM) last released its earnings results on Friday, November 1st. The utilities provider reported $1.29 EPS for the quarter, topping analysts’ consensus estimates of $1.25 by $0.04. PNM Resources had a negative net margin of 0.64% and a positive return on equity of 9.18%. The business had revenue of $433.59 million during the quarter, compared to analysts’ expectations of $562.33 million. During the same quarter in the previous year, the company earned $1.08 earnings per share. On average, research analysts forecast that PNM Resources Inc will post 2.1 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Friday, November 1st were issued a $0.29 dividend. This represents a $1.16 annualized dividend and a yield of 2.39%. The ex-dividend date of this dividend was Thursday, October 31st. PNM Resources’s payout ratio is 58.00%.

Several equities research analysts have recently issued reports on the stock. UBS Group increased their target price on shares of PNM Resources from $50.00 to $53.00 and gave the stock a “neutral” rating in a research note on Friday, September 6th. SunTrust Banks lifted their price target on PNM Resources from $49.00 to $50.00 and gave the company a “hold” rating in a research note on Monday, September 30th. Barclays raised PNM Resources from an “underweight” rating to an “equal weight” rating and reduced their price target for the stock from $52.00 to $51.00 in a report on Thursday, November 21st. TheStreet upgraded PNM Resources from a “c+” rating to a “b-” rating in a research report on Thursday, August 29th. Finally, ValuEngine raised PNM Resources from a “sell” rating to a “hold” rating in a report on Tuesday. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $52.14.

PNM Resources Profile

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.

See Also: Put Option

Want to see what other hedge funds are holding PNM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for PNM Resources Inc (NYSE:PNM).

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

Receive News & Ratings for PNM Resources Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PNM Resources and related companies with MarketBeat.com's FREE daily email newsletter.