PNM Resources, Inc. (NYSE:PNM) Shares Acquired by D. E. Shaw & Co. Inc.

D. E. Shaw & Co. Inc. grew its holdings in PNM Resources, Inc. (NYSE:PNM) by 167.7% in the 1st quarter, Holdings Channel reports. The institutional investor owned 1,366,859 shares of the utilities provider’s stock after buying an additional 856,263 shares during the quarter. D. E. Shaw & Co. Inc.’s holdings in PNM Resources were worth $67,044,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Public Employees Retirement System of Ohio lifted its holdings in shares of PNM Resources by 0.4% in the 1st quarter. Public Employees Retirement System of Ohio now owns 63,315 shares of the utilities provider’s stock valued at $3,106,000 after buying an additional 231 shares during the period. Pacer Advisors Inc. increased its stake in PNM Resources by 2.7% in the 1st quarter. Pacer Advisors Inc. now owns 9,154 shares of the utilities provider’s stock valued at $449,000 after purchasing an additional 239 shares in the last quarter. Keebeck Alpha LP increased its stake in PNM Resources by 1.3% in the 1st quarter. Keebeck Alpha LP now owns 20,587 shares of the utilities provider’s stock valued at $1,010,000 after purchasing an additional 262 shares in the last quarter. The PNC Financial Services Group Inc. increased its stake in PNM Resources by 6.4% in the 1st quarter. The PNC Financial Services Group Inc. now owns 4,656 shares of the utilities provider’s stock valued at $228,000 after purchasing an additional 282 shares in the last quarter. Finally, State of Alaska Department of Revenue increased its stake in PNM Resources by 3.9% in the 1st quarter. State of Alaska Department of Revenue now owns 13,451 shares of the utilities provider’s stock valued at $659,000 after purchasing an additional 508 shares in the last quarter. 82.43% of the stock is owned by institutional investors and hedge funds.

NYSE PNM opened at $48.62 on Thursday. The company has a quick ratio of 0.18, a current ratio of 0.22 and a debt-to-equity ratio of 1.06. The company has a 50 day moving average price of $48.87. The stock has a market cap of $4.17 billion, a P/E ratio of 19.07, a P/E/G ratio of 4.07 and a beta of 0.53. PNM Resources, Inc. has a 1-year low of $39.00 and a 1-year high of $50.25.

PNM Resources (NYSE:PNM) last released its quarterly earnings results on Friday, April 30th. The utilities provider reported $0.32 earnings per share for the quarter, topping the consensus estimate of $0.19 by $0.13. The company had revenue of $364.70 million during the quarter, compared to the consensus estimate of $388.27 million. PNM Resources had a return on equity of 10.10% and a net margin of 13.26%. PNM Resources’s revenue was up 9.3% compared to the same quarter last year. During the same quarter last year, the business posted $0.18 earnings per share. Equities research analysts anticipate that PNM Resources, Inc. will post 2.31 earnings per share for the current year.

Separately, Williams Capital reaffirmed a “hold” rating on shares of PNM Resources in a research note on Friday, April 23rd. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and one has given a buy rating to the company’s stock. PNM Resources currently has an average rating of “Hold” and an average price target of $50.20.

PNM Resources Company Profile

PNM Resources, Inc, through its subsidiaries, provides electricity and electric services 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 engages in the generation, transmission, and distribution of electricity.

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

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