Mirae Asset Global Investments Co. Ltd. Sells 57,636 Shares of PNM Resources, Inc. (NYSE:PNM)

Mirae Asset Global Investments Co. Ltd. decreased its position in PNM Resources, Inc. (NYSE:PNM - Free Report) by 59.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 39,256 shares of the utilities provider's stock after selling 57,636 shares during the quarter. Mirae Asset Global Investments Co. Ltd.'s holdings in PNM Resources were worth $1,633,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Arizona State Retirement System raised its holdings in PNM Resources by 1.4% during the third quarter. Arizona State Retirement System now owns 23,217 shares of the utilities provider's stock worth $1,036,000 after purchasing an additional 313 shares in the last quarter. Franklin Resources Inc. raised its holdings in PNM Resources by 2.1% during the second quarter. Franklin Resources Inc. now owns 16,128 shares of the utilities provider's stock worth $727,000 after purchasing an additional 338 shares in the last quarter. Captrust Financial Advisors raised its holdings in PNM Resources by 14.8% during the first quarter. Captrust Financial Advisors now owns 2,626 shares of the utilities provider's stock worth $125,000 after purchasing an additional 339 shares in the last quarter. Massachusetts Financial Services Co. MA raised its holdings in PNM Resources by 0.9% during the third quarter. Massachusetts Financial Services Co. MA now owns 44,588 shares of the utilities provider's stock worth $1,989,000 after purchasing an additional 400 shares in the last quarter. Finally, Allworth Financial LP raised its holdings in PNM Resources by 59.5% during 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 in the last quarter. Institutional investors and hedge funds own 91.68% of the company's stock.

PNM Resources Stock Performance

NYSE:PNM traded up $0.49 during midday trading on Friday, reaching $36.61. The stock had a trading volume of 835,771 shares, compared to its average volume of 530,492. The firm has a fifty day simple moving average of $37.13 and a two-hundred day simple moving average of $39.63. PNM Resources, Inc. has a 12-month low of $34.63 and a 12-month high of $49.07. 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 stock has a market cap of $3.30 billion, a P/E ratio of 35.54, a P/E/G ratio of 10.12 and a beta of 0.35.

PNM Resources (NYSE:PNM - Get Free Report) last posted its quarterly earnings data on Tuesday, February 6th. The utilities provider reported $0.18 earnings per share for the quarter, beating 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 firm had revenue of $412.11 million for the quarter, compared to analyst estimates of $705.05 million. During the same period last year, the firm posted $0.15 EPS. On average, equities analysts expect that PNM Resources, Inc. will post 2.7 EPS for the current year.

PNM Resources Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 10th. Investors of record on Friday, April 26th will be given a $0.387 dividend. The ex-dividend date is Thursday, April 25th. This represents a $1.55 dividend on an annualized basis and a yield of 4.23%. PNM Resources's dividend payout ratio (DPR) is 150.49%.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the stock. StockNews.com cut shares of PNM Resources from a "hold" rating to a "sell" rating in a report on Wednesday, January 17th. Mizuho lowered 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 report on Wednesday, January 3rd. Wells Fargo & Company upgraded shares of PNM Resources from an "equal weight" rating to an "overweight" rating and set a $44.00 target price on the stock 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. Finally, Barclays raised their target price on shares of PNM Resources from $40.00 to $43.00 and gave the stock an "overweight" rating in a research report on Monday, April 15th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $46.80.

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.