Tokio Marine Asset Management Co. Ltd. Acquires 36,500 Shares of PNM Resources, Inc. (NYSE:PNM)

Tokio Marine Asset Management Co. Ltd. increased its holdings in shares of PNM Resources, Inc. (NYSE:PNM - Free Report) by 11.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 364,129 shares of the utilities provider's stock after acquiring an additional 36,500 shares during the quarter. Tokio Marine Asset Management Co. Ltd. owned approximately 0.42% of PNM Resources worth $15,148,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. River Road Asset Management LLC raised its stake in shares of PNM Resources by 107.9% in the fourth quarter. River Road Asset Management LLC now owns 1,154,420 shares of the utilities provider's stock valued at $48,024,000 after buying an additional 599,211 shares during the period. Advisors Preferred LLC bought a new stake in shares of PNM Resources in the fourth quarter valued at $2,439,000. Vanguard Group Inc. raised its stake in shares of PNM Resources by 0.4% in the third quarter. Vanguard Group Inc. now owns 9,379,034 shares of the utilities provider's stock valued at $418,399,000 after buying an additional 40,253 shares during the period. Calamos Advisors LLC raised its stake in shares of PNM Resources by 32.1% in the fourth quarter. Calamos Advisors LLC now owns 991,028 shares of the utilities provider's stock valued at $41,227,000 after buying an additional 241,028 shares during the period. Finally, Walleye Capital LLC bought a new stake in shares of PNM Resources in the third quarter valued at $24,754,000. 91.68% of the stock is currently owned by institutional investors.

PNM Resources Price Performance

PNM Resources stock traded up $0.32 during midday trading on Wednesday, hitting $36.61. 523,603 shares of the company's stock were exchanged, compared to its average volume of 1,404,657. PNM Resources, Inc. has a 52-week low of $34.63 and a 52-week high of $48.92. The stock has a 50-day moving average price of $37.11 and a two-hundred day moving average price of $39.50. The company has a debt-to-equity ratio of 1.77, a quick ratio of 0.31 and a current ratio of 0.39. The company has a market cap of $3.30 billion, a P/E ratio of 35.54, a PEG ratio of 10.14 and a beta of 0.35.

PNM Resources (NYSE:PNM - Get Free Report) last posted its earnings results on Tuesday, February 6th. The utilities provider reported $0.18 EPS for the quarter, topping 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 during the quarter, compared to analysts' expectations of $705.05 million. During the same period in the previous year, the business earned $0.15 earnings per share. On average, equities research analysts forecast that PNM Resources, Inc. will post 2.7 earnings per share for the current year.

PNM Resources Dividend Announcement

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

Wall Street Analysts Forecast Growth

PNM has been the subject of several recent research reports. StockNews.com cut PNM Resources from a "hold" rating to a "sell" rating in a research report on Wednesday, January 17th. TheStreet cut PNM Resources from a "b-" rating to a "c+" rating in a research report on Thursday, January 4th. Mizuho cut PNM Resources from a "buy" rating to a "neutral" rating and set a $41.00 price target for the company. in a research report on Wednesday, January 3rd. Barclays lifted 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, April 15th. Finally, Wells Fargo & Company upgraded 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. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Hold" and an average target price 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.