Strs Ohio Cuts Position in PNM Resources, Inc. (NYSE:PNM)

Strs Ohio decreased its position in PNM Resources, Inc. (NYSE:PNM - Free Report) by 78.1% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 6,000 shares of the utilities provider's stock after selling 21,400 shares during the period. Strs Ohio's holdings in PNM Resources were worth $249,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Arizona State Retirement System increased its holdings in shares of 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 buying an additional 313 shares in the last quarter. Massachusetts Financial Services Co. MA raised its position in shares of PNM Resources by 0.9% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 44,588 shares of the utilities provider's stock valued at $1,989,000 after acquiring an additional 400 shares during the period. Allworth Financial LP boosted its stake in PNM Resources by 59.5% during the 3rd quarter. Allworth Financial LP now owns 1,088 shares of the utilities provider's stock worth $49,000 after acquiring an additional 406 shares during the last quarter. Fifth Third Bancorp grew its holdings in PNM Resources by 64.7% during the third quarter. Fifth Third Bancorp now owns 1,100 shares of the utilities provider's stock valued at $49,000 after purchasing an additional 432 shares during the period. Finally, New York State Teachers Retirement System increased its stake in PNM Resources by 0.7% in the fourth quarter. New York State Teachers Retirement System now owns 87,139 shares of the utilities provider's stock valued at $3,625,000 after purchasing an additional 600 shares in the last quarter. Institutional investors own 91.68% of the company's stock.

PNM Resources Price Performance

Shares of PNM remained flat at $37.06 during mid-day trading on Tuesday. 1,032,651 shares of the stock traded hands, compared to its average volume of 1,371,060. 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 one year low of $34.63 and a one year high of $48.71. The firm has a market capitalization of $3.34 billion, a P/E ratio of 35.13, a PEG ratio of 10.04 and a beta of 0.35. The stock has a 50 day moving average of $37.06 and a 200-day moving average of $39.32.

PNM Resources (NYSE:PNM - Get Free Report) last announced 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 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 analysts' expectations of $705.05 million. During the same quarter in the prior year, the company posted $0.15 earnings per share. On average, analysts anticipate that PNM Resources, Inc. will post 2.7 earnings per share for the current 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 paid a dividend of $0.387 per share. The ex-dividend date is Thursday, April 25th. This represents a $1.55 dividend on an annualized basis and a yield of 4.18%. PNM Resources's payout ratio is 150.49%.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on PNM. Mizuho lowered shares of PNM Resources from a "buy" rating to a "neutral" rating and set a $41.00 price target for the company. in a report on Wednesday, January 3rd. TheStreet downgraded PNM Resources from a "b-" rating to a "c+" rating in a report on Thursday, January 4th. StockNews.com cut PNM Resources from a "hold" rating to a "sell" rating in a 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 objective for the company in a research report on Wednesday, January 3rd. Finally, Barclays raised their price objective on shares of PNM Resources from $40.00 to $43.00 and gave the stock an "overweight" rating in a 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 stock. Based on data from MarketBeat, the stock has a consensus 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.