River Road Asset Management LLC Raises Position in PNM Resources, Inc. (NYSE:PNM)

River Road Asset Management LLC grew its stake in shares of PNM Resources, Inc. (NYSE:PNM - Free Report) by 107.9% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,154,420 shares of the utilities provider's stock after buying an additional 599,211 shares during the quarter. River Road Asset Management LLC owned approximately 1.35% of PNM Resources worth $48,024,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. State of Wyoming bought a new stake in shares of PNM Resources in the fourth quarter worth $46,000. International Assets Investment Management LLC grew its stake in shares of PNM Resources by 4,061.5% in the fourth quarter. International Assets Investment Management LLC now owns 1,082 shares of the utilities provider's stock worth $45,000 after purchasing an additional 1,056 shares during the last quarter. Allworth Financial LP grew its stake in shares of PNM Resources by 59.5% in the third quarter. Allworth Financial LP now owns 1,088 shares of the utilities provider's stock worth $49,000 after purchasing an additional 406 shares during the last quarter. Fifth Third Bancorp grew its stake in shares of PNM Resources by 64.7% in the third quarter. Fifth Third Bancorp now owns 1,100 shares of the utilities provider's stock worth $49,000 after purchasing an additional 432 shares during the last quarter. Finally, Millburn Ridgefield Corp bought a new stake in shares of PNM Resources in the third quarter worth $66,000. Institutional investors own 91.68% of the company's stock.

PNM Resources Stock Down 0.3 %

Shares of NYSE PNM traded down $0.10 during trading on Wednesday, hitting $35.87. 573,803 shares of the company traded hands, compared to its average volume of 1,464,388. The company has a debt-to-equity ratio of 1.77, a quick ratio of 0.31 and a current ratio of 0.39. PNM Resources, Inc. has a fifty-two week low of $34.63 and a fifty-two week high of $49.08. The firm has a market capitalization of $3.24 billion, a price-to-earnings ratio of 34.84, a P/E/G ratio of 0.36 and a beta of 0.35. The business's fifty day moving average is $37.18 and its 200 day moving average is $39.78.

PNM Resources (NYSE:PNM - Get Free Report) last issued its quarterly earnings data 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. PNM Resources had a net margin of 4.54% and a return on equity of 10.51%. The business had revenue of $412.11 million during the quarter, compared to the consensus estimate of $705.05 million. During the same period in the prior year, the firm posted $0.15 EPS. Equities research analysts predict that PNM Resources, Inc. will post 2.7 earnings per share for the current fiscal year.

PNM Resources Dividend Announcement

The company also recently disclosed 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 4.32%. The ex-dividend date is Thursday, April 25th. PNM Resources's payout ratio is 150.49%.

Analyst Upgrades and Downgrades

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

About PNM Resources

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.