PNM Resources Inc. (PNM) Shares Sold by Systematic Financial Management LP
Systematic Financial Management LP reduced its stake in shares of PNM Resources Inc. (NYSE:PNM) by 37.9% during the second quarter, Holdings Channel reports. The firm owned 80,630 shares of the company’s stock after selling 49,275 shares during the period. Systematic Financial Management LP owned about 0.10% of PNM Resources worth $2,857,000 as of its most recent filing with the SEC.
A number of other hedge funds have also modified their holdings of PNM. State Street Corp raised its stake in shares of PNM Resources by 1.8% in the first quarter. State Street Corp now owns 2,726,625 shares of the company’s stock worth $91,943,000 after buying an additional 49,025 shares during the period. Renaissance Technologies LLC raised its stake in shares of PNM Resources by 58.3% in the first quarter. Renaissance Technologies LLC now owns 848,800 shares of the company’s stock worth $28,622,000 after buying an additional 312,700 shares during the period. BlackRock Group LTD raised its stake in shares of PNM Resources by 95.9% in the first quarter. BlackRock Group LTD now owns 102,365 shares of the company’s stock worth $3,452,000 after buying an additional 50,099 shares during the period. Aperio Group LLC raised its stake in shares of PNM Resources by 19.8% in the first quarter. Aperio Group LLC now owns 33,771 shares of the company’s stock worth $1,139,000 after buying an additional 5,593 shares during the period. Finally, Societe Generale acquired a new stake in shares of PNM Resources during the second quarter worth about $919,000. Institutional investors own 93.15% of the company’s stock.
Shares of PNM Resources Inc. (NYSE:PNM) traded up 0.83% during trading on Monday, hitting $32.70. The stock had a trading volume of 95,748 shares. The company has a market cap of $2.60 billion, a P/E ratio of 359.34 and a beta of 0.24. PNM Resources Inc. has a one year low of $25.43 and a one year high of $36.15. The stock’s 50-day moving average price is $32.90 and its 200-day moving average price is $33.14.
PNM Resources (NYSE:PNM) last announced its earnings results on Monday, August 8th. The company reported $0.40 EPS for the quarter, beating the consensus estimate of $0.39 by $0.01. The business had revenue of $315.39 million for the quarter, compared to the consensus estimate of $379 million. PNM Resources had a return on equity of 7.00% and a net margin of 0.54%. The company’s revenue was down 10.6% on a year-over-year basis. During the same period last year, the business posted $0.44 EPS. On average, equities research analysts forecast that PNM Resources Inc. will post $1.59 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Monday, August 22nd. Investors of record on Monday, August 8th were issued a dividend of $0.22 per share. The ex-dividend date was Thursday, August 4th. This represents a $0.88 annualized dividend and a dividend yield of 2.69%. PNM Resources’s payout ratio is currently 1,100.00%.
A number of analysts have issued reports on PNM shares. SunTrust Banks Inc. cut their price target on shares of PNM Resources from $35.00 to $34.00 and set a “neutral” rating on the stock in a research note on Monday, August 29th. Jefferies Group reiterated a “hold” rating and set a $35.00 price target on shares of PNM Resources in a research note on Tuesday, August 30th. TheStreet lowered shares of PNM Resources from a “buy” rating to a “hold” rating in a research note on Friday, August 26th. Finally, Zacks Investment Research lowered shares of PNM Resources from a “hold” rating to a “sell” rating in a research note on Saturday, June 18th. Four research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $35.67.
About PNM Resources
PNM Resources, Inc (PNMR) is an investor-owned holding company with approximately two regulated utilities providing electricity and electric services in New Mexico and Texas. PNMR’s electric utilities are Public Service Company of New Mexico and Subsidiaries (PNM) and Texas-New Mexico Power Company and Subsidiaries (TNMP).
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