California State Teachers Retirement System Sells 13,537 Shares of PNM Resources Inc (PNM)

California State Teachers Retirement System cut its holdings in PNM Resources Inc (NYSE:PNM) by 9.6% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 127,944 shares of the utilities provider’s stock after selling 13,537 shares during the period. California State Teachers Retirement System owned approximately 0.16% of PNM Resources worth $5,156,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the stock. New York State Common Retirement Fund boosted its holdings in PNM Resources by 0.3% in the second quarter. New York State Common Retirement Fund now owns 137,079 shares of the utilities provider’s stock worth $5,243,000 after purchasing an additional 395 shares in the last quarter. Comerica Bank lifted its position in PNM Resources by 0.7% during the 2nd quarter. Comerica Bank now owns 62,790 shares of the utilities provider’s stock worth $2,439,000 after acquiring an additional 454 shares during the last quarter. Mutual of America Capital Management LLC lifted its position in PNM Resources by 0.3% during the 2nd quarter. Mutual of America Capital Management LLC now owns 178,577 shares of the utilities provider’s stock worth $6,831,000 after acquiring an additional 458 shares during the last quarter. Thrivent Financial For Lutherans lifted its position in PNM Resources by 0.3% during the 2nd quarter. Thrivent Financial For Lutherans now owns 413,315 shares of the utilities provider’s stock worth $15,809,000 after acquiring an additional 1,120 shares during the last quarter. Finally, Bessemer Group Inc. lifted its position in PNM Resources by 15.7% during the 3rd quarter. Bessemer Group Inc. now owns 11,059 shares of the utilities provider’s stock worth $446,000 after acquiring an additional 1,500 shares during the last quarter. Hedge funds and other institutional investors own 92.21% of the company’s stock.

PNM has been the subject of a number of research analyst reports. Zacks Investment Research raised shares of PNM Resources from a “hold” rating to a “buy” rating and set a $48.00 target price for the company in a research report on Wednesday, November 1st. ValuEngine raised shares of PNM Resources from a “hold” rating to a “buy” rating in a research report on Thursday, September 7th. SunTrust Banks reissued a “hold” rating and set a $39.00 target price on shares of PNM Resources in a research report on Tuesday, December 26th. Wells Fargo & Co initiated coverage on shares of PNM Resources in a research report on Friday, September 22nd. They set a “market perform” rating and a $42.00 target price for the company. Finally, Williams Capital lowered shares of PNM Resources from a “hold” rating to a “sell” rating and set a $38.00 target price for the company. in a research report on Monday, September 18th. Five investment analysts have rated the stock with a sell rating, eight have issued a hold rating, one has issued a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $39.83.

PNM Resources Inc (NYSE PNM) opened at $39.95 on Wednesday. The company has a market cap of $3,180.00, a PE ratio of 20.18, a PEG ratio of 3.96 and a beta of 0.36. The company has a current ratio of 0.53, a quick ratio of 0.43 and a debt-to-equity ratio of 1.25. PNM Resources Inc has a 52-week low of $33.35 and a 52-week high of $46.00.

PNM Resources (NYSE:PNM) last announced its quarterly earnings data on Friday, October 27th. The utilities provider reported $0.93 EPS for the quarter, beating the Zacks’ consensus estimate of $0.85 by $0.08. The business had revenue of $419.90 million during the quarter, compared to analyst estimates of $422.71 million. PNM Resources had a net margin of 11.27% and a return on equity of 9.18%. During the same quarter in the prior year, the business earned $0.78 earnings per share. sell-side analysts forecast that PNM Resources Inc will post 1.86 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, February 1st. Stockholders of record on Thursday, January 18th will be given a dividend of $0.265 per share. The ex-dividend date is Wednesday, January 17th. This represents a $1.06 dividend on an annualized basis and a dividend yield of 2.65%. This is a positive change from PNM Resources’s previous quarterly dividend of $0.24. PNM Resources’s dividend payout ratio is currently 48.99%.

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PNM Resources Company Profile

PNM Resources, Inc (PNMR) is an investor-owned holding company with approximately two regulated utilities providing electricity and electric services in New Mexico and Texas. PNMR’s electric utilities are Public Service Company of New Mexico (PNM) and Texas-New Mexico Power Company (TNMP). It operates in three segments: PNM, TNMP, and Corporate and Other.

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

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