PNM Resources Inc. (NYSE:PNM) declared a quarterly dividend on Tuesday, September 20th. Investors of record on Monday, October 31st will be given a dividend of 0.22 per share on Monday, November 14th. This represents a $0.88 annualized dividend and a dividend yield of 2.63%.

Hedge funds have recently made changes to their positions in the stock. BlackRock Fund Advisors boosted its stake in shares of PNM Resources by 3.6% in the second quarter. BlackRock Fund Advisors now owns 4,056,931 shares of the company’s stock valued at $143,778,000 after buying an additional 140,885 shares during the period. BlackRock Institutional Trust Company N.A. boosted its stake in shares of PNM Resources by 3.0% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 2,373,575 shares of the company’s stock valued at $84,119,000 after buying an additional 69,034 shares during the period. FMR LLC boosted its stake in shares of PNM Resources by 16.2% in the second quarter. FMR LLC now owns 1,715,366 shares of the company’s stock valued at $60,793,000 after buying an additional 239,700 shares during the period. AQR Capital Management LLC boosted its stake in shares of PNM Resources by 5.2% in the second quarter. AQR Capital Management LLC now owns 819,299 shares of the company’s stock valued at $29,036,000 after buying an additional 40,485 shares during the period. Finally, Nuveen Asset Management LLC boosted its stake in shares of PNM Resources by 39.3% in the second quarter. Nuveen Asset Management LLC now owns 480,075 shares of the company’s stock valued at $17,014,000 after buying an additional 135,371 shares during the period. Hedge funds and other institutional investors own 93.15% of the company’s stock.

Shares of PNM Resources (NYSE:PNM) opened at 33.50 on Wednesday. The stock has a market cap of $2.67 billion, a PE ratio of 368.13 and a beta of 0.24. PNM Resources has a 1-year low of $25.92 and a 1-year high of $36.15. The stock has a 50 day moving average of $32.64 and a 200 day moving average of $33.14.

PNM Resources (NYSE:PNM) last announced its quarterly earnings data on Monday, August 8th. The company reported $0.40 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.39 by $0.01. PNM Resources had a net margin of 0.54% and a return on equity of 7.00%. The firm earned $315.39 million during the quarter, compared to analysts’ expectations of $379 million. During the same quarter last year, the business earned $0.44 earnings per share. The business’s revenue for the quarter was down 10.6% compared to the same quarter last year. Equities research analysts forecast that PNM Resources will post $1.59 EPS for the current year.

Several research analysts recently weighed in on PNM shares. Zacks Investment Research downgraded shares of PNM Resources from a “hold” rating to a “sell” rating in a research report on Saturday, June 18th. Jefferies Group reaffirmed a “hold” rating on shares of PNM Resources in a research note on Monday, July 18th. SunTrust Banks Inc. dropped their price objective on shares of PNM Resources from $35.00 to $34.00 and set a “neutral” rating for the company in a research note on Monday, August 29th. Finally, TheStreet cut shares of PNM Resources from a “buy” rating to a “hold” rating in a research note on Friday, August 26th. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The company 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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