PNM Resources, Inc. (NYSE:PNM) Shares Bought by Raymond James & Associates

Raymond James & Associates grew its position in PNM Resources, Inc. (NYSE:PNM - Free Report) by 226.7% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 71,592 shares of the utilities provider's stock after buying an additional 49,679 shares during the quarter. Raymond James & Associates owned 0.08% of PNM Resources worth $2,978,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. SG Americas Securities LLC lifted its position in shares of PNM Resources by 61.4% during the 4th quarter. SG Americas Securities LLC now owns 66,495 shares of the utilities provider's stock valued at $2,766,000 after acquiring an additional 25,302 shares during the period. Vanguard Group Inc. boosted its position in PNM Resources by 0.4% during the third quarter. Vanguard Group Inc. now owns 9,379,034 shares of the utilities provider's stock worth $418,399,000 after purchasing an additional 40,253 shares during the period. Teachers Retirement System of The State of Kentucky boosted its position in PNM Resources by 93.1% during the third quarter. Teachers Retirement System of The State of Kentucky now owns 29,319 shares of the utilities provider's stock worth $1,307,000 after purchasing an additional 14,132 shares during the period. Hudson Bay Capital Management LP boosted its position in PNM Resources by 42.5% during the third quarter. Hudson Bay Capital Management LP now owns 2,670,601 shares of the utilities provider's stock worth $119,136,000 after purchasing an additional 796,077 shares during the period. Finally, Deutsche Bank AG boosted its position in PNM Resources by 1.8% during the third quarter. Deutsche Bank AG now owns 288,932 shares of the utilities provider's stock worth $12,889,000 after purchasing an additional 5,205 shares during the period. 91.68% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on PNM shares. Barclays raised their price objective on shares of PNM Resources from $40.00 to $43.00 and gave the company an "overweight" rating in a research report on Monday. Wells Fargo & Company upgraded shares of PNM Resources from an "equal weight" rating to an "overweight" rating and set a $44.00 price objective for the company in a research report on Wednesday, January 3rd. TheStreet lowered shares of PNM Resources from a "b-" rating to a "c+" rating in a research report on Thursday, January 4th. StockNews.com downgraded shares of PNM Resources from a "hold" rating to a "sell" rating in a research note on Wednesday, January 17th. Finally, Mizuho downgraded shares of PNM Resources from a "buy" rating to a "neutral" rating and set a $41.00 target price on the stock. in a research note on Wednesday, January 3rd. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, PNM Resources has a consensus rating of "Hold" and an average price target of $46.80.

PNM Resources Stock Down 0.2 %

Shares of PNM stock traded down $0.09 during mid-day trading on Monday, reaching $36.14. 506,080 shares of the company's stock traded hands, compared to its average volume of 1,486,500. PNM Resources, Inc. has a 12 month low of $34.63 and a 12 month high of $49.08. The company has a market cap of $3.26 billion, a P/E ratio of 35.09, a P/E/G ratio of 0.37 and a beta of 0.35. The company has a quick ratio of 0.31, a current ratio of 0.39 and a debt-to-equity ratio of 1.77. The company's 50-day moving average price is $37.18 and its 200-day moving average price is $39.84.

PNM Resources (NYSE:PNM - Get Free Report) last posted its quarterly earnings results on Tuesday, February 6th. The utilities provider reported $0.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.14 by $0.04. The firm had revenue of $412.11 million during the quarter, compared to analyst estimates of $705.05 million. PNM Resources had a return on equity of 10.51% and a net margin of 4.54%. During the same quarter in the previous year, the firm earned $0.15 EPS. On average, equities analysts expect that PNM Resources, Inc. will post 2.66 earnings per share for the current fiscal year.

PNM Resources Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 10th. Shareholders of record on Friday, April 26th will be given a $0.387 dividend. This represents a $1.55 dividend on an annualized basis and a yield of 4.28%. The ex-dividend date is Thursday, April 25th. PNM Resources's dividend payout ratio (DPR) is 150.49%.

PNM Resources 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.