Cwm LLC Takes $39,000 Position in PNM Resources, Inc. (NYSE:PNM)

Cwm LLC bought a new position in PNM Resources, Inc. (NYSE:PNMGet Rating) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 863 shares of the utilities provider’s stock, valued at approximately $39,000.

Several other hedge funds and other institutional investors have also bought and sold shares of PNM. Segall Bryant & Hamill LLC boosted its position in PNM Resources by 16.9% during the 3rd quarter. Segall Bryant & Hamill LLC now owns 583,210 shares of the utilities provider’s stock valued at $28,856,000 after acquiring an additional 84,206 shares in the last quarter. Trust Co. of Vermont purchased a new position in shares of PNM Resources during the fourth quarter valued at approximately $68,000. Ovata Capital Management Ltd lifted its holdings in shares of PNM Resources by 37.6% during the third quarter. Ovata Capital Management Ltd now owns 188,643 shares of the utilities provider’s stock valued at $9,334,000 after purchasing an additional 51,593 shares during the last quarter. Commonwealth Equity Services LLC lifted its holdings in shares of PNM Resources by 48.3% during the third quarter. Commonwealth Equity Services LLC now owns 15,384 shares of the utilities provider’s stock valued at $761,000 after purchasing an additional 5,013 shares during the last quarter. Finally, Magnetar Financial LLC lifted its holdings in shares of PNM Resources by 2.0% during the third quarter. Magnetar Financial LLC now owns 2,847,777 shares of the utilities provider’s stock valued at $140,908,000 after purchasing an additional 55,514 shares during the last quarter. 85.15% of the stock is currently owned by institutional investors.

PNM has been the subject of a number of recent analyst reports. StockNews.com initiated coverage on shares of PNM Resources in a report on Thursday, March 31st. They issued a “hold” rating for the company. Mizuho boosted their price objective on shares of PNM Resources from $47.00 to $53.00 and gave the stock a “neutral” rating in a report on Wednesday, February 9th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $49.33.

Shares of PNM stock opened at $47.78 on Friday. PNM Resources, Inc. has a 1 year low of $43.84 and a 1 year high of $50.11. The firm has a fifty day moving average price of $46.39 and a 200-day moving average price of $46.82. The company has a debt-to-equity ratio of 1.58, a current ratio of 0.49 and a quick ratio of 0.39. The company has a market cap of $4.10 billion, a price-to-earnings ratio of 21.05, a PEG ratio of 4.28 and a beta of 0.48.

PNM Resources (NYSE:PNMGet Rating) last issued its quarterly earnings data on Thursday, February 3rd. The utilities provider reported $0.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.16 by $0.05. PNM Resources had a net margin of 11.24% and a return on equity of 9.76%. Equities research analysts expect that PNM Resources, Inc. will post 2.55 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, May 13th. Investors of record on Friday, April 29th will be issued a $0.347 dividend. This represents a $1.39 annualized dividend and a yield of 2.90%. The ex-dividend date is Thursday, April 28th. PNM Resources’s dividend payout ratio is currently 61.23%.

About PNM Resources (Get Rating)

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.

See Also

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

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