Louisiana State Employees Retirement System Takes Position in PNM Resources, Inc. (NYSE:PNM)

Louisiana State Employees Retirement System bought a new stake in shares of PNM Resources, Inc. (NYSE:PNM - Free Report) in the 4th quarter, according to its most recent filing with the SEC. The institutional investor bought 24,100 shares of the utilities provider's stock, valued at approximately $1,003,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Deroy & Devereaux Private Investment Counsel Inc. grew its holdings in shares of PNM Resources by 11.5% during the 4th quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 44,345 shares of the utilities provider's stock worth $1,845,000 after purchasing an additional 4,565 shares in the last quarter. Nisa Investment Advisors LLC raised its stake in shares of PNM Resources by 6.5% in the 4th quarter. Nisa Investment Advisors LLC now owns 34,225 shares of the utilities provider's stock valued at $1,424,000 after buying an additional 2,095 shares in the last quarter. New York State Teachers Retirement System lifted its holdings in shares of PNM Resources by 0.7% during the 4th quarter. New York State Teachers Retirement System now owns 87,139 shares of the utilities provider's stock worth $3,625,000 after acquiring an additional 600 shares during the period. Advisors Preferred LLC acquired a new stake in shares of PNM Resources during the 4th quarter valued at about $2,439,000. Finally, International Assets Investment Management LLC increased its stake in 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 valued at $45,000 after acquiring an additional 1,056 shares during the period. 91.68% of the stock is currently owned by institutional investors and hedge funds.

PNM Resources Trading Down 0.8 %

NYSE:PNM traded down $0.30 during mid-day trading on Thursday, hitting $36.33. The company had a trading volume of 597,624 shares, compared to its average volume of 1,394,569. 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 $48.92. The firm has a market cap of $3.28 billion, a P/E ratio of 35.54, a P/E/G ratio of 10.03 and a beta of 0.35. The business's fifty day moving average is $37.11 and its two-hundred day moving average is $39.50.

PNM Resources (NYSE:PNM - Get Free Report) last released its quarterly earnings data on Tuesday, February 6th. The utilities provider reported $0.18 earnings per share for the quarter, topping the consensus estimate 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 for the quarter, compared to analyst estimates of $705.05 million. During the same quarter last year, the firm earned $0.15 EPS. As a group, research analysts expect that PNM Resources, Inc. will post 2.7 earnings per share for the current 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 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 yield of 4.26%. PNM Resources's dividend payout ratio is presently 150.49%.

Wall Street Analysts Forecast Growth

PNM has been the topic of a number of recent research reports. Mizuho downgraded PNM Resources from a "buy" rating to a "neutral" rating and set a $41.00 price objective on the stock. in a report on Wednesday, January 3rd. Barclays boosted their target price on PNM Resources from $40.00 to $43.00 and gave the stock an "overweight" rating in a report on Monday, April 15th. TheStreet cut PNM Resources from a "b-" rating to a "c+" rating in a report on Thursday, January 4th. StockNews.com cut shares of PNM Resources from a "hold" rating to a "sell" rating in a research report on Wednesday, January 17th. Finally, Wells Fargo & Company upgraded PNM Resources from an "equal weight" rating to an "overweight" rating and set a $44.00 price objective on the stock in a research report on Wednesday, January 3rd. One equities research 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's stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $46.80.

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.