Hsbc Holdings PLC Sells 409 Shares of PNM Resources, Inc. (NYSE:PNM)

Hsbc Holdings PLC lessened its holdings in PNM Resources, Inc. (NYSE:PNM – Get Rating) by 0.9% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 46,025 shares of the utilities provider’s stock after selling 409 shares during the period. Hsbc Holdings PLC’s holdings in PNM Resources were worth $2,113,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Nomura Asset Management Co. Ltd. lifted its holdings in PNM Resources by 34.9% during the third quarter. Nomura Asset Management Co. Ltd. now owns 850 shares of the utilities provider’s stock worth $39,000 after buying an additional 220 shares during the period. Franklin Resources Inc. boosted its position in PNM Resources by 5,074.9% during the second quarter. Franklin Resources Inc. now owns 1,014,439 shares of the utilities provider’s stock valued at $48,470,000 after purchasing an additional 994,836 shares in the last quarter. Meeder Asset Management Inc. grew its stake in PNM Resources by 161.0% in the second quarter. Meeder Asset Management Inc. now owns 3,946 shares of the utilities provider’s stock valued at $189,000 after purchasing an additional 2,434 shares during the last quarter. AE Wealth Management LLC raised its holdings in PNM Resources by 9.8% in the third quarter. AE Wealth Management LLC now owns 12,794 shares of the utilities provider’s stock worth $585,000 after purchasing an additional 1,146 shares in the last quarter. Finally, Texas Permanent School Fund lifted its position in shares of PNM Resources by 2.0% during the second quarter. Texas Permanent School Fund now owns 62,040 shares of the utilities provider’s stock valued at $2,964,000 after buying an additional 1,187 shares during the last quarter. 89.88% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the stock. Wells Fargo & Company lifted their price objective on shares of PNM Resources to $48.00 in a research report on Wednesday, December 14th. Mizuho lowered PNM Resources from a “buy” rating to a “neutral” rating and reduced their target price for the company from $51.00 to $50.30 in a research report on Monday, January 9th.

PNM Resources Stock Down 0.3 %

PNM Resources stock opened at $49.12 on Tuesday. The business’s 50-day simple moving average is $49.13 and its two-hundred day simple moving average is $48.04. The company has a debt-to-equity ratio of 1.73, a quick ratio of 0.52 and a current ratio of 0.61. The company has a market cap of $4.22 billion, a PE ratio of 24.93, a PEG ratio of 4.39 and a beta of 0.43. PNM Resources, Inc. has a fifty-two week low of $43.43 and a fifty-two week high of $49.60.

PNM Resources (NYSE:PNM – Get Rating) last issued its earnings results on Friday, February 24th. The utilities provider reported $0.15 EPS for the quarter, beating analysts’ consensus estimates of $0.14 by $0.01. PNM Resources had a return on equity of 10.51% and a net margin of 7.55%. The firm had revenue of $575.82 million for the quarter, compared to analyst estimates of $244.99 million. During the same quarter in the prior year, the firm earned $0.21 earnings per share. Equities analysts anticipate that PNM Resources, Inc. will post 2.66 EPS for the current year.

PNM Resources Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 17th. Stockholders of record on Friday, February 3rd were paid a $0.368 dividend. The ex-dividend date of this dividend was Thursday, February 2nd. This represents a $1.47 dividend on an annualized basis and a dividend yield of 3.00%. This is a positive change from PNM Resources’s previous quarterly dividend of $0.35. PNM Resources’s dividend payout ratio is presently 74.62%.

PNM Resources Profile

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PNM Resources, Inc operates as an investor-owned holding company, which provides electricity and electric services in New Mexico and Texas. It operates through the following segments: Public Service Company of New Mexico (PNM), Texas-New Mexico Power Company (TNMP), and Corporate and Other. The PNM segment includes the retail electric utility operations of the company.