Segantii Capital Management Ltd Acquires 388,436 Shares of PNM Resources, Inc. (NYSE:PNM)

Segantii Capital Management Ltd grew its position in shares of PNM Resources, Inc. (NYSE:PNM - Free Report) by 111.6% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 736,439 shares of the utilities provider's stock after buying an additional 388,436 shares during the quarter. PNM Resources accounts for approximately 1.6% of Segantii Capital Management Ltd's investment portfolio, making the stock its 16th biggest holding. Segantii Capital Management Ltd owned 0.86% of PNM Resources worth $30,636,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Hudson Bay Capital Management LP boosted its stake in PNM Resources by 42.5% in the third quarter. Hudson Bay Capital Management LP now owns 2,670,601 shares of the utilities provider's stock valued at $119,136,000 after acquiring an additional 796,077 shares during the last quarter. River Road Asset Management LLC lifted its stake in 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 purchasing an additional 599,211 shares during the last quarter. Alpha Wave Global LP grew its holdings in PNM Resources by 82.3% during the third quarter. Alpha Wave Global LP now owns 1,273,853 shares of the utilities provider's stock valued at $56,827,000 after purchasing an additional 575,012 shares during the period. Walleye Capital LLC purchased a new stake in PNM Resources in the third quarter worth $24,754,000. Finally, Healthcare of Ontario Pension Plan Trust Fund raised its stake in shares of PNM Resources by 73.0% in the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,272,800 shares of the utilities provider's stock valued at $56,780,000 after buying an additional 536,900 shares during the period. 91.68% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the company. StockNews.com cut PNM Resources from a "hold" rating to a "sell" rating in a research note on Wednesday, January 17th. Barclays boosted their price target on shares of PNM Resources from $40.00 to $43.00 and gave the company an "overweight" rating in a research report on Monday, April 15th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $46.80.

PNM Resources Price Performance

Shares of PNM traded up $0.24 during midday trading on Thursday, hitting $38.21. 612,190 shares of the company traded hands, compared to its average volume of 1,320,153. The stock has a 50-day moving average of $37.11 and a 200-day moving average of $39.03. The company has a debt-to-equity ratio of 1.77, a current ratio of 0.39 and a quick ratio of 0.31. PNM Resources, Inc. has a one year low of $34.63 and a one year high of $48.48. The firm has a market cap of $3.45 billion, a P/E ratio of 41.99, a PEG ratio of 3.04 and a beta of 0.35.

PNM Resources (NYSE:PNM - Get Free Report) last posted its earnings results on Tuesday, April 30th. The utilities provider reported $0.41 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.68 by ($0.27). The firm had revenue of $436.90 million during the quarter, compared to analysts' expectations of $531.00 million. PNM Resources had a return on equity of 9.99% and a net margin of 4.38%. The business's revenue for the quarter was down 19.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.55 earnings per share. As a group, sell-side analysts predict that PNM Resources, Inc. will post 2.71 EPS for the current fiscal year.

PNM Resources Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 10th. Shareholders of record on Friday, April 26th will be issued a $0.387 dividend. The ex-dividend date of this dividend is Thursday, April 25th. This represents a $1.55 annualized dividend and a dividend yield of 4.05%. PNM Resources's payout ratio is currently 170.33%.

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.