Nisa Investment Advisors LLC Acquires 2,095 Shares of PNM Resources, Inc. (NYSE:PNM)

Nisa Investment Advisors LLC raised its holdings in PNM Resources, Inc. (NYSE:PNM) by 6.5% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 34,225 shares of the utilities provider’s stock after buying an additional 2,095 shares during the period. Nisa Investment Advisors LLC’s holdings in PNM Resources were worth $1,424,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Arizona State Retirement System raised its stake in PNM Resources by 1.4% in the third quarter. Arizona State Retirement System now owns 23,217 shares of the utilities provider’s stock valued at $1,036,000 after buying an additional 313 shares during the period. Franklin Resources Inc. grew its position in shares of PNM Resources by 2.1% in the second quarter. Franklin Resources Inc. now owns 16,128 shares of the utilities provider’s stock valued at $727,000 after purchasing an additional 338 shares during the last quarter. Captrust Financial Advisors grew its position in shares of PNM Resources by 14.8% in the first quarter. Captrust Financial Advisors now owns 2,626 shares of the utilities provider’s stock valued at $125,000 after purchasing an additional 339 shares during the last quarter. Massachusetts Financial Services Co. MA grew its position in shares of PNM Resources by 0.9% in the third quarter. Massachusetts Financial Services Co. MA now owns 44,588 shares of the utilities provider’s stock valued at $1,989,000 after purchasing an additional 400 shares during the last quarter. Finally, Allworth Financial LP grew its position in shares of PNM Resources by 59.5% in the third quarter. Allworth Financial LP now owns 1,088 shares of the utilities provider’s stock valued at $49,000 after purchasing an additional 406 shares during the last quarter. Institutional investors own 91.68% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on PNM shares. TheStreet downgraded PNM Resources from a “b-” rating to a “c+” rating in a research report on Thursday, January 4th. Barclays assumed coverage on PNM Resources in a research note on Thursday, February 8th. They set an “overweight” rating and a $40.00 target price for the company. Wells Fargo & Company upgraded PNM Resources from an “equal weight” rating to an “overweight” rating and set a $44.00 target price for the company in a research note on Wednesday, January 3rd. Mizuho cut PNM Resources from a “buy” rating to a “neutral” rating and set a $41.00 target price for the company. in a research note on Wednesday, January 3rd. Finally, StockNews.com cut PNM Resources from a “hold” rating to a “sell” rating in a research note on Wednesday, January 17th. One investment 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. According to MarketBeat.com, PNM Resources has a consensus rating of “Hold” and an average price target of $46.20.

PNM Resources Stock Down 1.8 %

Shares of PNM opened at $36.23 on Monday. PNM Resources, Inc. has a 52 week low of $34.63 and a 52 week high of $49.08. The stock has a market capitalization of $3.27 billion, a price-to-earnings ratio of 35.18, 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. The stock has a fifty day moving average of $37.15 and a 200-day moving average of $39.90.

PNM Resources (NYSE:PNM) last announced its quarterly earnings results on Tuesday, February 6th. The utilities provider reported $0.18 EPS for the quarter, beating analysts’ consensus estimates of $0.14 by $0.04. PNM Resources had a return on equity of 10.51% and a net margin of 4.54%. The company had revenue of $412.11 million during the quarter, compared to analysts’ expectations of $705.05 million. During the same period in the prior year, the company earned $0.15 EPS. As a group, sell-side analysts anticipate that PNM Resources, Inc. will post 2.66 earnings per share for the current fiscal year.

PNM Resources Dividend Announcement

The business also recently announced 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 yield of 4.27%. The ex-dividend date is Thursday, April 25th. PNM Resources’s dividend payout ratio is currently 150.49%.

PNM Resources Company 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.