Cerity Partners LLC Has $1.34 Million Holdings in PNM Resources, Inc. (NYSE:PNM)

Cerity Partners LLC lessened its holdings in shares of PNM Resources, Inc. (NYSE:PNM) by 15.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 32,281 shares of the utilities provider’s stock after selling 6,058 shares during the period. Cerity Partners LLC’s holdings in PNM Resources were worth $1,343,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of the business. BlackRock Inc. lifted its holdings in shares of PNM Resources by 0.6% during the first quarter. BlackRock Inc. now owns 11,097,571 shares of the utilities provider’s stock worth $540,230,000 after purchasing an additional 68,064 shares during the period. Vanguard Group Inc. lifted its holdings in PNM Resources by 0.4% in the third quarter. Vanguard Group Inc. now owns 9,379,034 shares of the utilities provider’s stock valued at $418,399,000 after buying an additional 40,253 shares during the period. State Street Corp lifted its holdings in PNM Resources by 1.5% in the first quarter. State Street Corp now owns 3,373,488 shares of the utilities provider’s stock valued at $164,221,000 after buying an additional 49,528 shares during the period. Hudson Bay Capital Management LP lifted its holdings in PNM Resources by 42.5% in the third quarter. Hudson Bay Capital Management LP now owns 2,670,601 shares of the utilities provider’s stock valued at $119,136,000 after buying an additional 796,077 shares during the period. Finally, Geode Capital Management LLC lifted its holdings in PNM Resources by 5.4% in the first quarter. Geode Capital Management LLC now owns 1,635,723 shares of the utilities provider’s stock valued at $79,627,000 after buying an additional 83,654 shares during the period. Institutional investors and hedge funds own 91.68% of the company’s stock.

PNM Resources Price Performance

Shares of NYSE PNM opened at $36.61 on Friday. The firm’s 50-day moving average price is $37.13 and its 200-day moving average price is $39.65. PNM Resources, Inc. has a 1-year low of $34.63 and a 1-year high of $49.07. The firm has a market capitalization of $3.30 billion, a P/E ratio of 35.54, a P/E/G ratio of 9.98 and a beta of 0.35. The company has a current ratio of 0.39, a quick ratio of 0.31 and a debt-to-equity ratio of 1.77.

PNM Resources (NYSE:PNM) last posted its earnings results on Tuesday, February 6th. The utilities provider reported $0.18 EPS for the quarter, topping the consensus estimate of $0.14 by $0.04. The company had revenue of $412.11 million during the quarter, compared to the consensus estimate of $705.05 million. PNM Resources had a net margin of 4.54% and a return on equity of 10.51%. During the same period in the previous year, the firm posted $0.15 earnings per share. Equities research analysts anticipate that PNM Resources, Inc. will post 2.7 earnings per share for the current fiscal year.

PNM Resources Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 10th. Stockholders 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 4.23%. The ex-dividend date is Thursday, April 25th. PNM Resources’s payout ratio is presently 150.49%.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the stock. TheStreet lowered shares of PNM Resources from a “b-” rating to a “c+” rating in a report on Thursday, January 4th. StockNews.com lowered shares of PNM Resources from a “hold” rating to a “sell” rating in a report on Wednesday, January 17th. Wells Fargo & Company upgraded shares of PNM Resources from an “equal weight” rating to an “overweight” rating and set a $44.00 target price on the stock in a report on Wednesday, January 3rd. Barclays upped their price objective on shares of PNM Resources from $40.00 to $43.00 and gave the company an “overweight” rating in a report on Monday, April 15th. Finally, Mizuho lowered shares of PNM Resources from a “buy” rating to a “neutral” rating and set a $41.00 price objective on the stock. in a report on Wednesday, January 3rd. One research analyst has rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $46.80.

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.