Teachers Retirement System of The State of Kentucky Buys 14,132 Shares of PNM Resources, Inc. (NYSE:PNM)

Teachers Retirement System of The State of Kentucky grew its stake in shares of PNM Resources, Inc. (NYSE:PNMFree Report) by 93.1% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 29,319 shares of the utilities provider’s stock after buying an additional 14,132 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in PNM Resources were worth $1,307,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Hudson Bay Capital Management LP boosted its holdings in shares of PNM Resources by 42.5% during the third quarter. Hudson Bay Capital Management LP now owns 2,670,601 shares of the utilities provider’s stock worth $119,136,000 after purchasing an additional 796,077 shares during the period. Deutsche Bank AG boosted its holdings in shares of PNM Resources by 1.8% during the third quarter. Deutsche Bank AG now owns 288,932 shares of the utilities provider’s stock worth $12,889,000 after purchasing an additional 5,205 shares during the period. Walleye Capital LLC purchased a new stake in shares of PNM Resources during the third quarter worth about $24,754,000. Comerica Bank purchased a new stake in shares of PNM Resources during the third quarter worth about $2,049,000. Finally, Creative Planning boosted its holdings in shares of PNM Resources by 28.5% during the third quarter. Creative Planning now owns 16,398 shares of the utilities provider’s stock worth $732,000 after purchasing an additional 3,634 shares during the period. 91.18% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

PNM has been the subject of several research analyst reports. Barclays initiated coverage on shares of PNM Resources in a report on Thursday, February 8th. They issued an “overweight” rating and a $40.00 price objective for the company. Wells Fargo & Company upgraded shares of PNM Resources from an “equal weight” rating to an “overweight” rating and set a $44.00 price objective for the company in a report on Wednesday, January 3rd. StockNews.com lowered shares of PNM Resources from a “hold” rating to a “sell” rating in a report on Wednesday, January 17th. Mizuho lowered shares of PNM Resources from a “buy” rating to a “neutral” rating and set a $41.00 price objective for the company. in a report on Wednesday, January 3rd. Finally, TheStreet lowered shares of PNM Resources from a “b-” rating to a “c+” rating in a report on Thursday, January 4th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $46.20.

Check Out Our Latest Analysis on PNM

PNM Resources Price Performance

PNM stock opened at $36.84 on Wednesday. The firm has a 50 day moving average price of $36.98 and a 200-day moving average price of $40.81. PNM Resources, Inc. has a 52-week low of $34.63 and a 52-week high of $49.14. The firm has a market capitalization of $3.32 billion, a price-to-earnings ratio of 35.76, a PEG ratio of 0.37 and a beta of 0.35. The company has a debt-to-equity ratio of 1.77, a quick ratio of 0.31 and a current ratio of 0.39.

PNM Resources (NYSE:PNMGet Free Report) last released its earnings results on Tuesday, February 6th. The utilities provider reported $0.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.14 by $0.04. PNM Resources had a net margin of 4.54% and a return on equity of 10.51%. The firm had revenue of $412.11 million during the quarter, compared to analyst estimates of $705.05 million. During the same period last year, the business earned $0.15 earnings per share. Equities research analysts forecast that PNM Resources, Inc. will post 2.71 EPS for the current fiscal year.

PNM Resources Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, May 10th. Investors of record on Friday, April 26th will be given a dividend of $0.387 per share. This represents a $1.55 annualized dividend and a dividend yield of 4.20%. The ex-dividend date of this dividend is Thursday, April 25th. PNM Resources’s dividend payout ratio (DPR) is currently 150.49%.

About PNM Resources

(Free Report)

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); Texas-New Mexico Power Company (TNMP); and Corporate and Other segments. The PNM segment engages in the generation, transmission, and distribution of electricity.

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Institutional Ownership by Quarter for PNM Resources (NYSE:PNM)

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