Mutual of America Capital Management LLC Sells 2,758 Shares of PNM Resources, Inc. (NYSE:PNM)

Mutual of America Capital Management LLC decreased its holdings in PNM Resources, Inc. (NYSE:PNM) by 4.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 53,022 shares of the utilities provider’s stock after selling 2,758 shares during the quarter. Mutual of America Capital Management LLC owned approximately 0.06% of PNM Resources worth $2,206,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. State of Wyoming bought a new stake in PNM Resources during the fourth quarter valued at $46,000. International Assets Investment Management LLC boosted its position in PNM Resources by 4,061.5% during the fourth quarter. International Assets Investment Management LLC now owns 1,082 shares of the utilities provider’s stock valued at $45,000 after acquiring an additional 1,056 shares during the last quarter. Allworth Financial LP boosted its position in PNM Resources by 59.5% during the third quarter. Allworth Financial LP now owns 1,088 shares of the utilities provider’s stock valued at $49,000 after acquiring an additional 406 shares during the last quarter. Fifth Third Bancorp boosted its position in PNM Resources by 64.7% during 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. Finally, Millburn Ridgefield Corp bought a new stake in PNM Resources during the third quarter valued at $66,000. Institutional investors own 91.68% of the company’s stock.

PNM Resources Trading Up 1.4 %

PNM opened at $36.61 on Friday. 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, Inc. has a fifty-two week low of $34.63 and a fifty-two week high of $49.07. The firm has a market capitalization of $3.30 billion, a PE ratio of 35.54, a P/E/G ratio of 9.98 and a beta of 0.35. The company’s 50-day moving average is $37.13 and its 200 day moving average is $39.65.

PNM Resources (NYSE:PNM) last posted its earnings results on Tuesday, February 6th. The utilities provider reported $0.18 earnings per share for the quarter, topping analysts’ consensus estimates of $0.14 by $0.04. PNM Resources had a net margin of 4.54% and a return on equity of 10.51%. The company had revenue of $412.11 million for the quarter, compared to analyst estimates of $705.05 million. During the same quarter in the prior year, the business posted $0.15 EPS. As a group, research analysts predict that PNM Resources, Inc. will post 2.7 earnings per share for the current fiscal year.

PNM Resources Dividend Announcement

The firm 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 $0.387 dividend. The ex-dividend date is Thursday, April 25th. This represents a $1.55 dividend on an annualized basis and a dividend yield of 4.23%. PNM Resources’s dividend payout ratio is presently 150.49%.

Wall Street Analyst Weigh In

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

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.