PNM Resources, Inc. (NYSE:PNM) Short Interest Down 25.6% in March

PNM Resources, Inc. (NYSE:PNM - Get Free Report) was the recipient of a large decline in short interest in the month of March. As of March 15th, there was short interest totalling 2,010,000 shares, a decline of 25.6% from the February 29th total of 2,700,000 shares. Based on an average daily trading volume, of 1,610,000 shares, the short-interest ratio is currently 1.2 days.

Analysts Set New Price Targets

Several research firms have commented on PNM. Wells Fargo & Company upgraded shares of PNM Resources from an "equal weight" rating to an "overweight" rating and set a $44.00 target price for the company in a research report on Wednesday, January 3rd. Barclays initiated coverage on shares of PNM Resources in a research note on Thursday, February 8th. They issued an "overweight" rating and a $40.00 price objective on the stock. StockNews.com lowered shares of PNM Resources from a "hold" rating to a "sell" rating in a research note on Wednesday, January 17th. TheStreet downgraded shares of PNM Resources from a "b-" rating to a "c+" rating in a report on Thursday, January 4th. Finally, Mizuho downgraded shares of PNM Resources from a "buy" rating to a "neutral" rating and set a $41.00 price objective for the company. in a report on Wednesday, January 3rd. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, PNM Resources has an average rating of "Hold" and an average price target of $46.20.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Fortis Group Advisors LLC boosted its stake in shares of PNM Resources by 100.0% in the 4th quarter. Fortis Group Advisors LLC now owns 800 shares of the utilities provider's stock valued at $33,000 after purchasing an additional 400 shares during the last quarter. International Assets Investment Management LLC boosted its stake in PNM Resources by 4,061.5% during the 4th quarter. International Assets Investment Management LLC now owns 1,082 shares of the utilities provider's stock worth $45,000 after acquiring an additional 1,056 shares during the last quarter. State of Wyoming bought a new position in PNM Resources during the 4th quarter worth approximately $46,000. KBC Group NV bought a new position in PNM Resources during the 4th quarter worth approximately $48,000. Finally, Allworth Financial LP boosted its stake in PNM Resources by 59.5% during the 3rd quarter. Allworth Financial LP now owns 1,088 shares of the utilities provider's stock worth $49,000 after acquiring an additional 406 shares during the last quarter. Institutional investors own 91.68% of the company's stock.

PNM Resources Price Performance

Shares of PNM Resources stock traded up $0.19 during mid-day trading on Friday, reaching $37.64. 600,222 shares of the stock were exchanged, compared to its average volume of 959,694. The company has a market cap of $3.40 billion, a price-to-earnings ratio of 36.54, a price-to-earnings-growth ratio of 0.37 and a beta of 0.35. The company has a current ratio of 0.39, a quick ratio of 0.31 and a debt-to-equity ratio of 1.77. The firm has a 50-day simple moving average of $37.04 and a 200 day simple moving average of $40.47. PNM Resources has a fifty-two week low of $34.63 and a fifty-two week high of $49.08.

PNM Resources (NYSE:PNM - Get Free Report) last announced its earnings results on Tuesday, February 6th. The utilities provider reported $0.18 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.14 by $0.04. The business had revenue of $412.11 million during the quarter, compared to analysts' expectations of $705.05 million. PNM Resources had a net margin of 4.54% and a return on equity of 10.51%. During the same quarter last year, the company posted $0.15 EPS. On average, sell-side analysts predict that PNM Resources will post 2.71 EPS for the current fiscal year.

PNM Resources Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 10th. Stockholders of record on Friday, April 26th will be paid a $0.387 dividend. This represents a $1.55 annualized dividend and a dividend yield of 4.11%. The ex-dividend date of this dividend is Thursday, April 25th. PNM Resources's dividend payout ratio (DPR) is presently 150.49%.

PNM Resources Company Profile

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.