WINTON GROUP Ltd Acquires 6,533 Shares of PNM Resources, Inc. (NYSE:PNM)

WINTON GROUP Ltd lifted its holdings in shares of PNM Resources, Inc. (NYSE:PNM) by 13.7% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 54,228 shares of the utilities provider’s stock after acquiring an additional 6,533 shares during the quarter. WINTON GROUP Ltd’s holdings in PNM Resources were worth $2,640,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. BerganKDV Wealth Management LLC bought a new position in shares of PNM Resources during the first quarter valued at approximately $28,000. CI Investments Inc. bought a new position in PNM Resources in the fourth quarter worth $34,000. State of Wyoming bought a new position in PNM Resources in the fourth quarter worth $46,000. Quadrant Capital Group LLC raised its holdings in PNM Resources by 40.0% in the fourth quarter. Quadrant Capital Group LLC now owns 1,095 shares of the utilities provider’s stock worth $53,000 after purchasing an additional 313 shares in the last quarter. Finally, EverSource Wealth Advisors LLC bought a new position in PNM Resources in the first quarter worth $56,000. Institutional investors own 91.18% of the company’s stock.

PNM Resources Stock Up 0.1 %

Shares of NYSE:PNM traded up $0.04 on Friday, hitting $44.35. 45,644 shares of the company traded hands, compared to its average volume of 554,396. PNM Resources, Inc. has a 52 week low of $43.69 and a 52 week high of $49.60. The company has a quick ratio of 0.29, a current ratio of 0.37 and a debt-to-equity ratio of 1.70. The stock has a 50 day simple moving average of $44.85 and a 200-day simple moving average of $46.83. The company has a market cap of $3.81 billion, a PE ratio of 16.00, a PEG ratio of 3.61 and a beta of 0.41.

PNM Resources (NYSE:PNM) last issued its quarterly earnings results on Friday, August 4th. The utilities provider reported $0.55 earnings per share for the quarter, missing the consensus estimate of $0.56 by ($0.01). PNM Resources had a net margin of 10.26% and a return on equity of 10.31%. The company had revenue of $477.20 million for the quarter, compared to the consensus estimate of $446.75 million. During the same quarter in the previous year, the business earned $0.57 earnings per share. PNM Resources’s revenue was down 4.5% compared to the same quarter last year. As a group, research analysts expect that PNM Resources, Inc. will post 2.72 earnings per share for the current year.

PNM Resources Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 25th. Investors of record on Friday, August 11th were given a dividend of $0.3675 per share. The ex-dividend date of this dividend was Thursday, August 10th. This represents a $1.47 annualized dividend and a dividend yield of 3.31%. PNM Resources’s dividend payout ratio (DPR) is presently 53.07%.

Analyst Ratings Changes

PNM has been the subject of a number of research reports. Siebert Williams Shank upgraded PNM Resources from a “hold” rating to a “buy” rating and increased their price objective for the stock from $53.00 to $55.00 in a report on Tuesday, May 16th. StockNews.com began coverage on PNM Resources in a report on Thursday, August 17th. They issued a “hold” rating for the company.

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.