TD Asset Management Inc. Sells 5,900 Shares of PNM Resources Inc (NYSE:PNM)
TD Asset Management Inc. cut its position in shares of PNM Resources Inc (NYSE:PNM) by 5.3% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 105,610 shares of the utilities provider’s stock after selling 5,900 shares during the period. TD Asset Management Inc. owned about 0.13% of PNM Resources worth $5,377,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Northern Trust Corp raised its position in PNM Resources by 0.7% during the 1st quarter. Northern Trust Corp now owns 2,175,967 shares of the utilities provider’s stock valued at $103,010,000 after purchasing an additional 14,464 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of PNM Resources by 1.9% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,753,107 shares of the utilities provider’s stock worth $72,035,000 after acquiring an additional 33,289 shares in the last quarter. Geode Capital Management LLC raised its position in shares of PNM Resources by 10.3% in the 4th quarter. Geode Capital Management LLC now owns 872,225 shares of the utilities provider’s stock worth $35,839,000 after acquiring an additional 81,603 shares in the last quarter. AJO LP raised its position in shares of PNM Resources by 53.7% in the 1st quarter. AJO LP now owns 804,837 shares of the utilities provider’s stock worth $38,101,000 after acquiring an additional 281,037 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its position in shares of PNM Resources by 26.0% in the 1st quarter. JPMorgan Chase & Co. now owns 501,920 shares of the utilities provider’s stock worth $23,761,000 after acquiring an additional 103,643 shares in the last quarter. 89.48% of the stock is owned by institutional investors and hedge funds.
Several research analysts have recently commented on PNM shares. Zacks Investment Research lowered PNM Resources from a “hold” rating to a “sell” rating in a research report on Wednesday, July 31st. Wells Fargo & Co set a $52.00 price target on PNM Resources and gave the stock a “hold” rating in a research report on Monday, July 15th. Barclays reissued a “sell” rating and issued a $49.00 price target on shares of PNM Resources in a research report on Wednesday, June 19th. TheStreet lowered PNM Resources from a “b” rating to a “c+” rating in a research report on Tuesday, August 13th. Finally, Bank of America raised PNM Resources from an “underperform” rating to a “neutral” rating and set a $48.00 price target for the company in a research report on Thursday, April 25th. Three analysts have rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $50.19.
PNM Resources (NYSE:PNM) last released its quarterly earnings results on Friday, August 2nd. The utilities provider reported $0.37 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.37. PNM Resources had a positive return on equity of 8.08% and a negative net margin of 1.69%. The firm had revenue of $330.23 million during the quarter. On average, equities research analysts forecast that PNM Resources Inc will post 2.08 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, August 16th. Investors of record on Tuesday, August 6th were given a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a yield of 2.27%. The ex-dividend date was Monday, August 5th. PNM Resources’s dividend payout ratio is currently 58.00%.
PNM Resources Profile
PNM Resources, Inc, through its subsidiaries, engages in the energy and energy-related businesses 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 is primarily involved in the generation, transmission, and distribution of electricity.
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