US Bancorp DE Sells 3,191 Shares of PNM Resources, Inc. (NYSE:PNM)

US Bancorp DE lowered its stake in PNM Resources, Inc. (NYSE:PNMFree Report) by 17.8% during the 4th quarter, HoldingsChannel.com reports. The fund owned 14,687 shares of the utilities provider’s stock after selling 3,191 shares during the quarter. US Bancorp DE’s holdings in PNM Resources were worth $611,000 at the end of the most recent quarter.

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

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. Barclays lifted their price target on PNM Resources from $40.00 to $43.00 and gave the company an “overweight” rating in a research report on Monday, April 15th. Evercore ISI assumed coverage on shares of PNM Resources in a report on Thursday, May 30th. They set an “in-line” rating and a $38.00 target price on the stock. Finally, StockNews.com downgraded shares of PNM Resources from a “hold” rating to a “sell” rating in a research report on Friday. One analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $43.40.

Read Our Latest Research Report on PNM

PNM Resources Stock Performance

PNM Resources stock 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 company has a quick ratio of 0.27, a current ratio of 0.37 and a debt-to-equity ratio of 1.81. The company has a market capitalization of $3.38 billion, a P/E ratio of 41.24, a PEG ratio of 5.52 and a beta of 0.38. The stock’s 50 day moving average is $37.35 and its 200 day moving average is $38.32.

PNM Resources (NYSE:PNMGet Free Report) last released its earnings results on Tuesday, April 30th. The utilities provider reported $0.41 EPS for the quarter, missing analysts’ consensus estimates of $0.68 by ($0.27). PNM Resources had a return on equity of 9.91% and a net margin of 4.38%. The company had revenue of $436.90 million during the quarter, compared to analysts’ expectations of $531.00 million. During the same period in the prior year, the company posted $0.55 earnings per share. The company’s revenue was down 19.7% on a year-over-year basis. On average, equities research analysts predict that PNM Resources, Inc. will post 2.7 earnings per share for the current fiscal year.

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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