Verition Fund Management LLC boosted its holdings in shares of PNM Resources, Inc. (NYSE:PNM – Get Rating) by 13.7% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 36,004 shares of the utilities provider’s stock after purchasing an additional 4,339 shares during the period. Verition Fund Management LLC’s holdings in PNM Resources were worth $1,716,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Mint Tower Capital Management B.V. lifted its stake in PNM Resources by 2.6% during the first quarter. Mint Tower Capital Management B.V. now owns 10,618 shares of the utilities provider’s stock worth $506,000 after purchasing an additional 269 shares during the last quarter. State Board of Administration of Florida Retirement System lifted its stake in PNM Resources by 2.3% during the first quarter. State Board of Administration of Florida Retirement System now owns 13,651 shares of the utilities provider’s stock worth $651,000 after purchasing an additional 301 shares during the last quarter. Coldstream Capital Management Inc. lifted its stake in PNM Resources by 5.9% during the first quarter. Coldstream Capital Management Inc. now owns 5,650 shares of the utilities provider’s stock worth $269,000 after purchasing an additional 313 shares during the last quarter. Captrust Financial Advisors lifted its stake in PNM Resources by 14.8% during the first quarter. Captrust Financial Advisors now owns 2,626 shares of the utilities provider’s stock worth $125,000 after purchasing an additional 339 shares during the last quarter. Finally, Crossmark Global Holdings Inc. lifted its stake in PNM Resources by 5.2% during the first quarter. Crossmark Global Holdings Inc. now owns 7,320 shares of the utilities provider’s stock worth $349,000 after purchasing an additional 360 shares during the last quarter. 91.18% of the stock is currently owned by institutional investors.
Wall Street Analyst Weigh In
Separately, Mizuho cut their target price on PNM Resources from $52.00 to $51.00 and set a “buy” rating for the company in a research note on Wednesday, September 7th.
PNM Resources Stock Up 0.6 %
PNM Resources (NYSE:PNM – Get Rating) last announced its quarterly earnings results on Thursday, August 4th. The utilities provider reported $0.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.55 by $0.02. The company had revenue of $499.70 million during the quarter, compared to the consensus estimate of $445.36 million. PNM Resources had a net margin of 8.29% and a return on equity of 10.41%. The company’s revenue for the quarter was up 17.2% compared to the same quarter last year. During the same period in the prior year, the business earned $0.55 earnings per share. On average, equities analysts predict that PNM Resources, Inc. will post 2.6 EPS for the current fiscal year.
PNM Resources Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Wednesday, August 31st. Investors of record on Wednesday, August 17th were given a dividend of $0.347 per share. This represents a $1.39 annualized dividend and a yield of 2.90%. The ex-dividend date of this dividend was Tuesday, August 16th. PNM Resources’s dividend payout ratio is currently 76.37%.
PNM Resources 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.
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