First Trust Advisors LP Buys 94,267 Shares of PNM Resources, Inc. (NYSE:PNM)

First Trust Advisors LP lifted its stake in PNM Resources, Inc. (NYSE:PNMFree Report) by 6.3% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 1,587,169 shares of the utilities provider’s stock after purchasing an additional 94,267 shares during the quarter. First Trust Advisors LP owned about 1.85% of PNM Resources worth $66,026,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. New York State Common Retirement Fund boosted its stake in PNM Resources by 7.4% during the third quarter. New York State Common Retirement Fund now owns 44,064 shares of the utilities provider’s stock worth $1,966,000 after buying an additional 3,035 shares during the period. Swiss National Bank boosted its stake in shares of PNM Resources by 1.0% during the 3rd quarter. Swiss National Bank now owns 179,300 shares of the utilities provider’s stock worth $7,999,000 after purchasing an additional 1,800 shares during the period. Massachusetts Financial Services Co. MA boosted its stake in shares of PNM Resources by 0.9% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 44,588 shares of the utilities provider’s stock worth $1,989,000 after purchasing an additional 400 shares during the period. Vanguard Personalized Indexing Management LLC grew its holdings in PNM Resources by 68.4% during the 3rd quarter. Vanguard Personalized Indexing Management LLC now owns 9,535 shares of the utilities provider’s stock valued at $425,000 after purchasing an additional 3,874 shares during the last quarter. Finally, State of New Jersey Common Pension Fund D raised its position in PNM Resources by 8.0% in the 3rd quarter. State of New Jersey Common Pension Fund D now owns 56,372 shares of the utilities provider’s stock worth $2,515,000 after purchasing an additional 4,198 shares during the period. Institutional investors own 91.68% of the company’s stock.

PNM Resources Trading Down 0.9 %

Shares of NYSE PNM opened at $37.53 on Friday. PNM Resources, Inc. has a twelve month low of $34.63 and a twelve month high of $46.94. The firm has a market cap of $3.38 billion, a PE ratio of 41.24, a price-to-earnings-growth ratio of 5.52 and a beta of 0.38. The business has a fifty day simple moving average of $37.35 and a two-hundred day simple moving average of $38.32. The company has a quick ratio of 0.27, a current ratio of 0.37 and a debt-to-equity ratio of 1.81.

PNM Resources (NYSE:PNMGet Free Report) last released its quarterly earnings data on Tuesday, April 30th. The utilities provider reported $0.41 earnings per share for the quarter, missing the consensus estimate of $0.68 by ($0.27). PNM Resources had a net margin of 4.38% and a return on equity of 9.91%. The firm had revenue of $436.90 million during the quarter, compared to the consensus estimate of $531.00 million. During the same quarter in the previous year, the firm earned $0.55 earnings per share. The business’s revenue was down 19.7% compared to the same quarter last year. Analysts expect that PNM Resources, Inc. will post 2.7 earnings per share for the current fiscal year.

Analysts Set New Price Targets

PNM has been the subject of several recent analyst reports. StockNews.com lowered PNM Resources from a “hold” rating to a “sell” rating in a research report on Friday. Barclays upped their price objective on PNM Resources from $40.00 to $43.00 and gave the company an “overweight” rating in a research report on Monday, April 15th. Finally, Evercore ISI assumed coverage on PNM Resources in a research report on Thursday, May 30th. They set an “in-line” rating and a $38.00 target price for the company. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, PNM Resources presently has an average rating of “Hold” and an average price target of $43.40.

View Our Latest Report on PNM Resources

PNM Resources Company Profile

(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) and Texas-New Mexico Power Company (TNMP) 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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