Meitav Investment House Ltd. Buys New Position in PNM Resources, Inc. (NYSE:PNM)

Meitav Investment House Ltd. purchased a new stake in shares of PNM Resources, Inc. (NYSE:PNM) during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 3,085 shares of the utilities provider’s stock, valued at approximately $388,000.

Other large investors also recently made changes to their positions in the company. New Mexico Educational Retirement Board increased its position in shares of PNM Resources by 12.9% during the second quarter. New Mexico Educational Retirement Board now owns 17,500 shares of the utilities provider’s stock valued at $789,000 after acquiring an additional 2,000 shares during the last quarter. Tower Research Capital LLC TRC increased its position in shares of PNM Resources by 220.5% during the first quarter. Tower Research Capital LLC TRC now owns 13,139 shares of the utilities provider’s stock valued at $640,000 after acquiring an additional 9,039 shares during the last quarter. Vise Technologies Inc. increased its position in shares of PNM Resources by 17.2% during the first quarter. Vise Technologies Inc. now owns 5,622 shares of the utilities provider’s stock valued at $274,000 after acquiring an additional 826 shares during the last quarter. AGF Management Ltd. grew its position in PNM Resources by 0.5% during the first quarter. AGF Management Ltd. now owns 70,683 shares of the utilities provider’s stock valued at $3,441,000 after buying an additional 341 shares during the period. Finally, Prelude Capital Management LLC grew its position in PNM Resources by 20.9% during the first quarter. Prelude Capital Management LLC now owns 50,128 shares of the utilities provider’s stock valued at $2,440,000 after buying an additional 8,677 shares during the period. 91.18% of the stock is owned by institutional investors.

PNM Resources Stock Down 0.9 %

PNM Resources stock opened at $43.20 on Friday. PNM Resources, Inc. has a 1-year low of $41.61 and a 1-year high of $49.60. The firm has a market capitalization of $3.71 billion, a price-to-earnings ratio of 24.13, a P/E/G ratio of 3.47 and a beta of 0.41. The company has a current ratio of 0.33, a quick ratio of 0.27 and a debt-to-equity ratio of 1.71. The firm has a 50 day simple moving average of $43.68 and a 200 day simple moving average of $44.86.

PNM Resources (NYSE:PNM) last released its quarterly earnings data on Friday, October 27th. The utilities provider reported $1.54 earnings per share for the quarter, beating analysts’ consensus estimates of $1.30 by $0.24. PNM Resources had a net margin of 7.33% and a return on equity of 10.58%. The business had revenue of $505.85 million during the quarter, compared to analyst estimates of $908.51 million. During the same period in the previous year, the business earned $1.46 EPS. On average, analysts predict that PNM Resources, Inc. will post 2.8 earnings per share for the current year.

PNM Resources Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, November 10th. Shareholders of record on Friday, October 27th were paid a $0.368 dividend. The ex-dividend date was Thursday, October 26th. This represents a $1.47 annualized dividend and a yield of 3.41%. This is an increase from PNM Resources’s previous quarterly dividend of $0.37. PNM Resources’s dividend payout ratio (DPR) is currently 82.12%.

Wall Street Analyst Weigh In

PNM has been the subject of several research reports. Mizuho upgraded shares of PNM Resources from a “neutral” rating to a “buy” rating and set a $50.30 price target for the company in a research report on Tuesday, September 26th. StockNews.com downgraded PNM Resources from a “hold” rating to a “sell” rating in a research note on Tuesday, October 31st. Finally, Citigroup reiterated a “neutral” rating and issued a $51.00 price objective on shares of PNM Resources in a research note on Monday, September 18th.

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.