Quest Partners LLC Purchases Shares of 23,155 PNM Resources, Inc. (NYSE:PNM)

Quest Partners LLC acquired a new position in shares of PNM Resources, Inc. (NYSE:PNM - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 23,155 shares of the utilities provider's stock, valued at approximately $963,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Massachusetts Financial Services Co. MA grew its stake in shares of PNM Resources by 45.7% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 64,956 shares of the utilities provider's stock valued at $2,702,000 after buying an additional 20,368 shares in the last quarter. Principal Financial Group Inc. increased its position in shares of PNM Resources by 3.2% during the fourth quarter. Principal Financial Group Inc. now owns 370,180 shares of the utilities provider's stock worth $15,399,000 after acquiring an additional 11,606 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of PNM Resources by 3.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,544,429 shares of the utilities provider's stock valued at $64,248,000 after acquiring an additional 47,260 shares in the last quarter. Reaves W H & Co. Inc. grew its stake in PNM Resources by 5.0% during the 4th quarter. Reaves W H & Co. Inc. now owns 28,138 shares of the utilities provider's stock worth $1,171,000 after purchasing an additional 1,339 shares in the last quarter. Finally, Segantii Capital Management Ltd increased its holdings in PNM Resources by 111.6% during the 4th quarter. Segantii Capital Management Ltd now owns 736,439 shares of the utilities provider's stock worth $30,636,000 after purchasing an additional 388,436 shares during the period. Institutional investors and hedge funds own 91.68% of the company's stock.

PNM Resources Stock Performance

Shares of PNM Resources stock traded up $0.31 on Tuesday, hitting $38.85. The stock had a trading volume of 424,931 shares, compared to its average volume of 1,245,356. The stock has a market cap of $3.50 billion, a price-to-earnings ratio of 42.23, a P/E/G ratio of 3.10 and a beta of 0.35. The company has a current ratio of 0.37, a quick ratio of 0.27 and a debt-to-equity ratio of 1.81. PNM Resources, Inc. has a 52-week low of $34.63 and a 52-week high of $46.94. The company's 50 day moving average price is $37.21 and its 200 day moving average price is $38.72.

PNM Resources (NYSE:PNM - Get Free Report) last issued its quarterly earnings data on Tuesday, April 30th. The utilities provider reported $0.41 earnings per share for the quarter, missing analysts' consensus estimates 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 net margin of 4.38% and a return on equity of 9.91%. PNM Resources's quarterly revenue was down 19.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.55 EPS. On average, research analysts anticipate that PNM Resources, Inc. will post 2.71 EPS for the current year.

PNM Resources Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, May 10th. Stockholders of record on Friday, April 26th were issued a $0.387 dividend. The ex-dividend date of this dividend was Thursday, April 25th. This represents a $1.55 dividend on an annualized basis and a dividend yield of 3.98%. PNM Resources's payout ratio is 170.33%.

Wall Street Analysts Forecast Growth

Separately, Barclays boosted their price objective on PNM Resources from $40.00 to $43.00 and gave the stock an "overweight" rating in a research report on Monday, April 15th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $44.75.

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.