New York State Teachers Retirement System lifted its position in PNM Resources, Inc. (NYSE:PNM – Get Rating) by 0.7% in the 3rd quarter, Holdings Channel.com reports. The fund owned 77,853 shares of the utilities provider’s stock after acquiring an additional 510 shares during the period. New York State Teachers Retirement System’s holdings in PNM Resources were worth $3,560,000 at the end of the most recent quarter.
Other institutional investors have also recently made changes to their positions in the company. Franklin Resources Inc. lifted its holdings in shares of PNM Resources by 5,074.9% in the 2nd quarter. Franklin Resources Inc. now owns 1,014,439 shares of the utilities provider’s stock worth $48,470,000 after acquiring an additional 994,836 shares during the last quarter. Meeder Asset Management Inc. lifted its holdings in shares of PNM Resources by 161.0% in the 2nd quarter. Meeder Asset Management Inc. now owns 3,946 shares of the utilities provider’s stock worth $189,000 after acquiring an additional 2,434 shares during the last quarter. AE Wealth Management LLC lifted its holdings in shares of PNM Resources by 9.8% in the 3rd quarter. AE Wealth Management LLC now owns 12,794 shares of the utilities provider’s stock worth $585,000 after acquiring an additional 1,146 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of PNM Resources by 39.8% in the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 83,183 shares of the utilities provider’s stock worth $3,974,000 after acquiring an additional 23,701 shares during the last quarter. Finally, Verition Fund Management LLC lifted its holdings in shares of PNM Resources by 13.7% in the 1st quarter. Verition Fund Management LLC now owns 36,004 shares of the utilities provider’s stock worth $1,716,000 after acquiring an additional 4,339 shares during the last quarter. Institutional investors own 89.88% of the company’s stock.
PNM Resources Trading Up 0.1 %
PNM stock opened at $49.18 on Tuesday. The company has a market capitalization of $4.22 billion, a PE ratio of 25.61, a P/E/G ratio of 4.38 and a beta of 0.41. PNM Resources, Inc. has a 12 month low of $43.43 and a 12 month high of $49.31. The firm’s 50-day moving average is $48.64 and its 200 day moving average is $47.72. The company has a debt-to-equity ratio of 1.73, a current ratio of 0.61 and a quick ratio of 0.52.
PNM Resources Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Friday, February 17th. Shareholders of record on Friday, February 3rd will be given a dividend of $0.368 per share. This is an increase from PNM Resources’s previous quarterly dividend of $0.35. The ex-dividend date of this dividend is Thursday, February 2nd. This represents a $1.47 dividend on an annualized basis and a yield of 2.99%. PNM Resources’s dividend payout ratio (DPR) is 72.40%.
Analyst Upgrades and Downgrades
Several research firms have recently issued reports on PNM. StockNews.com assumed coverage on shares of PNM Resources in a report on Wednesday, October 12th. They issued a “hold” rating for the company. Wells Fargo & Company raised their price target on shares of PNM Resources to $48.00 in a research note on Wednesday, December 14th. Finally, Mizuho downgraded shares of PNM Resources from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $51.00 to $50.30 in a research note on Monday, January 9th.
About PNM Resources
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.
- Get a free copy of the StockNews.com research report on PNM Resources (PNM)
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