24,100 Shares in PNM Resources, Inc. (NYSE:PNM) Purchased by Louisiana State Employees Retirement System

Louisiana State Employees Retirement System purchased a new position in PNM Resources, Inc. (NYSE:PNM) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 24,100 shares of the utilities provider’s stock, valued at approximately $1,003,000.

A number of other hedge funds have also bought and sold shares of PNM. AE Wealth Management LLC grew its stake in PNM Resources by 6.5% in the third quarter. AE Wealth Management LLC now owns 14,833 shares of the utilities provider’s stock worth $662,000 after purchasing an additional 902 shares in the last quarter. SG Americas Securities LLC acquired a new position in PNM Resources in the third quarter worth about $1,838,000. Exchange Traded Concepts LLC grew its stake in PNM Resources by 5.5% in the third quarter. Exchange Traded Concepts LLC now owns 13,516 shares of the utilities provider’s stock worth $603,000 after purchasing an additional 700 shares in the last quarter. Asset Management One Co. Ltd. acquired a new position in PNM Resources in the third quarter worth about $522,000. Finally, Lindenwold Advisors INC acquired a new position in PNM Resources in the third quarter worth about $302,000. 91.68% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have commented on the company. TheStreet downgraded PNM Resources from a “b-” rating to a “c+” rating in a research note on Thursday, January 4th. Mizuho downgraded PNM Resources from a “buy” rating to a “neutral” rating and set a $41.00 target price for the company. in a research note on Wednesday, January 3rd. Wells Fargo & Company upgraded PNM Resources from an “equal weight” rating to an “overweight” rating and set a $44.00 target price for the company in a research note on Wednesday, January 3rd. StockNews.com downgraded PNM Resources from a “hold” rating to a “sell” rating in a research note on Wednesday, January 17th. Finally, Barclays lifted their target price on PNM Resources from $40.00 to $43.00 and gave the company an “overweight” rating in a research note on Monday, April 15th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, PNM Resources has an average rating of “Hold” and an average price target of $46.80.

PNM Resources Stock Performance

Shares of NYSE PNM opened at $36.61 on Thursday. The company has a current ratio of 0.39, a quick ratio of 0.31 and a debt-to-equity ratio of 1.77. The stock has a 50 day simple moving average of $37.11 and a 200-day simple moving average of $39.50. The company has a market cap of $3.30 billion, a PE ratio of 35.54, a P/E/G ratio of 10.14 and a beta of 0.35. PNM Resources, Inc. has a 12-month low of $34.63 and a 12-month high of $48.92.

PNM Resources (NYSE:PNM) last issued its quarterly earnings data on Tuesday, February 6th. The utilities provider reported $0.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.14 by $0.04. The business had revenue of $412.11 million during the quarter, compared to the consensus estimate of $705.05 million. PNM Resources had a return on equity of 10.51% and a net margin of 4.54%. During the same period in the previous year, the firm posted $0.15 earnings per share. On average, equities research analysts forecast that PNM Resources, Inc. will post 2.7 EPS for the current year.

PNM Resources Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, May 10th. Investors of record on Friday, April 26th will be issued a dividend of $0.387 per share. The ex-dividend date is Thursday, April 25th. This represents a $1.55 annualized dividend and a yield of 4.23%. PNM Resources’s payout ratio is 150.49%.

About PNM Resources

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.