International Assets Investment Management LLC Buys 1,056 Shares of PNM Resources, Inc. (NYSE:PNM)

International Assets Investment Management LLC increased its stake in PNM Resources, Inc. (NYSE:PNM) by 4,061.5% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,082 shares of the utilities provider’s stock after purchasing an additional 1,056 shares during the period. International Assets Investment Management LLC’s holdings in PNM Resources were worth $45,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Allworth Financial LP increased its holdings in PNM Resources by 59.5% in the 3rd quarter. Allworth Financial LP now owns 1,088 shares of the utilities provider’s stock valued at $49,000 after buying an additional 406 shares during the period. Fifth Third Bancorp increased its stake in PNM Resources by 64.7% in the third quarter. Fifth Third Bancorp now owns 1,100 shares of the utilities provider’s stock valued at $49,000 after acquiring an additional 432 shares during the last quarter. Millburn Ridgefield Corp acquired a new position in PNM Resources during the third quarter valued at approximately $66,000. Catalyst Capital Advisors LLC bought a new stake in PNM Resources during the third quarter worth $66,000. Finally, Signaturefd LLC lifted its stake in PNM Resources by 80.0% during the third quarter. Signaturefd LLC now owns 4,295 shares of the utilities provider’s stock worth $192,000 after purchasing an additional 1,909 shares during the last quarter. Institutional investors and hedge funds own 91.68% of the company’s stock.

Wall Street Analyst Weigh In

PNM has been the topic of several research analyst reports. Wells Fargo & Company raised PNM Resources from an “equal weight” rating to an “overweight” rating and set a $44.00 price objective on the stock in a research note on Wednesday, January 3rd. Mizuho downgraded shares of PNM Resources from a “buy” rating to a “neutral” rating and set a $41.00 price objective for the company. in a research note on Wednesday, January 3rd. StockNews.com lowered shares of PNM Resources from a “hold” rating to a “sell” rating in a research report on Wednesday, January 17th. TheStreet downgraded shares of PNM Resources from a “b-” rating to a “c+” rating in a report on Thursday, January 4th. Finally, Barclays raised their price objective on PNM Resources from $40.00 to $43.00 and gave the company an “overweight” rating in a report on Monday, April 15th. One research analyst has rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $46.80.

PNM Resources Trading Up 0.9 %

PNM opened at $37.38 on Thursday. The company’s 50 day moving average price is $37.03 and its two-hundred day moving average price is $39.26. The firm has a market capitalization of $3.37 billion, a price-to-earnings ratio of 36.29, a PEG ratio of 10.24 and a beta of 0.35. PNM Resources, Inc. has a fifty-two week low of $34.63 and a fifty-two week high of $48.71. The company has a debt-to-equity ratio of 1.77, a current ratio of 0.39 and a quick ratio of 0.31.

PNM Resources (NYSE:PNM) last issued its quarterly earnings data on Tuesday, April 30th. The utilities provider reported $0.41 earnings per share for the quarter, missing the consensus estimate of $0.68 by ($0.27). The business had revenue of $436.90 million during the quarter, compared to the consensus estimate of $531.00 million. PNM Resources had a return on equity of 10.51% and a net margin of 4.54%. The business’s revenue for the quarter was down 19.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.55 EPS. As a group, research analysts predict that PNM Resources, Inc. will post 2.7 earnings per share for the current year.

PNM Resources Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 10th. Investors of record on Friday, April 26th will be paid a $0.387 dividend. This represents a $1.55 dividend on an annualized basis and a dividend yield of 4.14%. The ex-dividend date of this dividend is Thursday, April 25th. PNM Resources’s dividend payout ratio is currently 150.49%.

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.