Cetera Advisor Networks LLC Has $667,000 Stake in PNM Resources, Inc. (NYSE:PNM)

Cetera Advisor Networks LLC lowered its stake in shares of PNM Resources, Inc. (NYSE:PNMGet Rating) by 10.9% in the first quarter, Holdings Channel reports. The institutional investor owned 14,000 shares of the utilities provider’s stock after selling 1,713 shares during the period. Cetera Advisor Networks LLC’s holdings in PNM Resources were worth $667,000 as of its most recent filing with the SEC.

Other institutional investors have also added to or reduced their stakes in the company. Lazard Asset Management LLC bought a new position in PNM Resources during the fourth quarter valued at about $32,000. Meeder Asset Management Inc. bought a new position in PNM Resources during the first quarter valued at about $72,000. Fulcrum Asset Management LLP bought a new position in PNM Resources during the fourth quarter valued at about $117,000. C M Bidwell & Associates Ltd. increased its stake in PNM Resources by 4,500.0% during the first quarter. C M Bidwell & Associates Ltd. now owns 2,760 shares of the utilities provider’s stock valued at $132,000 after acquiring an additional 2,700 shares during the period. Finally, Hightower 6M Holding LLC acquired a new stake in PNM Resources during the first quarter valued at approximately $218,000. 91.18% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, Mizuho raised PNM Resources from a “neutral” rating to a “buy” rating and decreased their price objective for the company from $53.00 to $52.00 in a report on Wednesday, June 22nd.

PNM Resources Stock Performance

PNM stock opened at $47.44 on Wednesday. The company has a debt-to-equity ratio of 1.63, a current ratio of 0.41 and a quick ratio of 0.33. The company has a 50 day moving average price of $47.75 and a 200 day moving average price of $46.87. PNM Resources, Inc. has a fifty-two week low of $43.43 and a fifty-two week high of $50.11. The stock has a market capitalization of $4.07 billion, a PE ratio of 26.07, a price-to-earnings-growth ratio of 3.66 and a beta of 0.42.

PNM Resources (NYSE:PNMGet Rating) last issued its earnings results on Thursday, August 4th. The utilities provider reported $0.57 EPS for the quarter, beating the consensus estimate of $0.55 by $0.02. The company had revenue of $499.70 million during the quarter, compared to analysts’ expectations of $445.36 million. PNM Resources had a net margin of 8.29% and a return on equity of 10.41%. The business’s revenue for the quarter was up 17.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.55 EPS. Analysts forecast that PNM Resources, Inc. will post 2.6 EPS for the current year.

PNM Resources Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, August 31st. Investors of record on Wednesday, August 17th were given a $0.347 dividend. This represents a $1.39 dividend on an annualized basis and a dividend yield of 2.93%. The ex-dividend date of this dividend was Tuesday, August 16th. PNM Resources’s dividend payout ratio is currently 76.37%.

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.

Further Reading

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

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