Dimensional Fund Advisors LP Grows Position in PNM Resources, Inc. (NYSE:PNM)

Dimensional Fund Advisors LP raised its position in PNM Resources, Inc. (NYSE:PNM – Get Rating) by 2.4% during the 4th quarter, Holdings Channel reports. The firm owned 1,507,428 shares of the utilities provider’s stock after acquiring an additional 35,652 shares during the quarter. Dimensional Fund Advisors LP’s holdings in PNM Resources were worth $73,548,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Lindbrook Capital LLC grew its holdings in PNM Resources by 194.1% in the fourth quarter. Lindbrook Capital LLC now owns 597 shares of the utilities provider’s stock valued at $29,000 after purchasing an additional 394 shares during the last quarter. Quadrant Capital Group LLC grew its holdings in PNM Resources by 44.5% in the third quarter. Quadrant Capital Group LLC now owns 782 shares of the utilities provider’s stock valued at $36,000 after purchasing an additional 241 shares during the last quarter. Signaturefd LLC grew its holdings in PNM Resources by 60.1% in the third quarter. Signaturefd LLC now owns 783 shares of the utilities provider’s stock valued at $36,000 after purchasing an additional 294 shares during the last quarter. Nomura Asset Management Co. Ltd. grew its holdings in PNM Resources by 34.9% in the third quarter. Nomura Asset Management Co. Ltd. now owns 850 shares of the utilities provider’s stock valued at $39,000 after purchasing an additional 220 shares during the last quarter. Finally, Allworth Financial LP grew its holdings in PNM Resources by 6,406.7% in the fourth quarter. Allworth Financial LP now owns 976 shares of the utilities provider’s stock valued at $48,000 after purchasing an additional 961 shares during the last quarter. Institutional investors and hedge funds own 89.88% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently commented on PNM. StockNews.com lowered PNM Resources from a “buy” rating to a “hold” rating in a research note on Wednesday. Siebert Williams Shank raised PNM Resources from a “hold” rating to a “buy” rating and increased their price objective for the company from $53.00 to $55.00 in a research note on Tuesday, May 16th.

PNM Resources Stock Performance

NYSE PNM opened at $45.62 on Thursday. The business’s 50-day moving average price is $48.10 and its 200 day moving average price is $48.59. PNM Resources, Inc. has a twelve month low of $43.43 and a twelve month high of $49.60. The company has a market capitalization of $3.92 billion, a PE ratio of 18.85, a price-to-earnings-growth ratio of 4.02 and a beta of 0.42. The company has a current ratio of 0.29, a quick ratio of 0.24 and a debt-to-equity ratio of 1.62.

PNM Resources (NYSE:PNM – Get Rating) last released its earnings results on Friday, May 5th. The utilities provider reported $0.55 earnings per share for the quarter, topping the consensus estimate of $0.39 by $0.16. PNM Resources had a return on equity of 10.55% and a net margin of 8.89%. The firm had revenue of $544.00 million for the quarter, compared to the consensus estimate of $460.14 million. During the same period in the prior year, the business posted $0.50 earnings per share. The firm’s revenue for the quarter was up 22.5% compared to the same quarter last year. On average, research analysts predict that PNM Resources, Inc. will post 2.7 earnings per share for the current year.

PNM Resources Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, May 12th. Investors of record on Friday, April 28th were given a dividend of $0.368 per share. The ex-dividend date was Thursday, April 27th. This represents a $1.47 annualized dividend and a yield of 3.23%. PNM Resources’s dividend payout ratio (DPR) is presently 60.74%.

About PNM Resources

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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.