Calamos Advisors LLC Raises Position in PNM Resources, Inc. (NYSE:PNM)

Calamos Advisors LLC raised its position in PNM Resources, Inc. (NYSE:PNM - Free Report) by 32.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 991,028 shares of the utilities provider's stock after buying an additional 241,028 shares during the quarter. Calamos Advisors LLC owned about 1.15% of PNM Resources worth $41,227,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in PNM. International Assets Investment Management LLC boosted its holdings in shares of PNM Resources by 4,061.5% in the 4th 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 in the last quarter. State of Wyoming bought a new stake in shares of PNM Resources in the 4th quarter valued at about $46,000. Allworth Financial LP lifted its stake in shares of PNM Resources by 59.5% in the 3rd quarter. Allworth Financial LP now owns 1,088 shares of the utilities provider's stock valued at $49,000 after acquiring an additional 406 shares during the last quarter. Fifth Third Bancorp lifted its stake in shares of PNM Resources by 64.7% in the 3rd quarter. Fifth Third Bancorp now owns 1,100 shares of the utilities provider's stock valued at $49,000 after acquiring an additional 432 shares during the last quarter. Finally, Millburn Ridgefield Corp bought a new stake in shares of PNM Resources in the 3rd quarter valued at about $66,000. 91.68% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

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

PNM Resources Stock Up 0.6 %

Shares of NYSE:PNM traded up $0.22 during trading on Thursday, hitting $36.11. The stock had a trading volume of 455,716 shares, compared to its average volume of 1,450,939. 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 has a market capitalization of $3.26 billion, a PE ratio of 35.07, a PEG ratio of 9.94 and a beta of 0.35. The firm's fifty day moving average is $37.16 and its 200 day moving average is $39.75. PNM Resources, Inc. has a 12 month low of $34.63 and a 12 month high of $49.08.

PNM Resources (NYSE:PNM - Get Free Report) last issued its earnings results on Tuesday, February 6th. The utilities provider reported $0.18 EPS for the quarter, beating the consensus estimate of $0.14 by $0.04. PNM Resources had a return on equity of 10.51% and a net margin of 4.54%. The business had revenue of $412.11 million for the quarter, compared to the consensus estimate of $705.05 million. During the same period last year, the business posted $0.15 EPS. Analysts anticipate that PNM Resources, Inc. will post 2.7 EPS for the current fiscal year.

PNM Resources Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, May 10th. Stockholders of record on Friday, April 26th will be issued a dividend of $0.387 per share. The ex-dividend date is Thursday, April 25th. This represents a $1.55 annualized dividend and a dividend yield of 4.29%. PNM Resources's payout ratio is 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.