The PNM Resources Inc. (PNM) Shares Bought by Northern Trust Corp

The PNM Resources Inc. (PNM) Shares Bought by Northern Trust Corp

Northern Trust Corp raised its stake in PNM Resources Inc. (NYSE:PNM) by 0.7% during the third quarter, Holdings Channel reports. The fund owned 2,078,649 shares of the company’s stock after buying an additional 14,167 shares during the period. Northern Trust Corp owned about 2.61% of PNM Resources worth $68,013,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in the company. California State Teachers Retirement System increased its stake in shares of PNM Resources by 0.9% in the third quarter. California State Teachers Retirement System now owns 169,473 shares of the company’s stock valued at $5,545,000 after buying an additional 1,500 shares during the last quarter. Ameriprise Financial Inc. increased its stake in shares of PNM Resources by 307.2% in the third quarter. Ameriprise Financial Inc. now owns 1,294,294 shares of the company’s stock valued at $42,344,000 after buying an additional 976,477 shares during the last quarter. Municipal Employees Retirement System of Michigan increased its stake in shares of PNM Resources by 1.6% in the third quarter. Municipal Employees Retirement System of Michigan now owns 35,770 shares of the company’s stock valued at $1,170,000 after buying an additional 550 shares during the last quarter. LS Investment Advisors LLC increased its stake in shares of PNM Resources by 7.0% in the third quarter. LS Investment Advisors LLC now owns 5,085 shares of the company’s stock valued at $166,000 after buying an additional 331 shares during the last quarter. Finally, Rhumbline Advisers increased its stake in shares of PNM Resources by 1.5% in the third quarter. Rhumbline Advisers now owns 181,764 shares of the company’s stock valued at $5,947,000 after buying an additional 2,720 shares during the last quarter. 92.63% of the stock is currently owned by hedge funds and other institutional investors.

PNM Resources Inc. (NYSE:PNM) opened at 34.2575 on Thursday. The stock has a 50 day moving average of $33.46 and a 200 day moving average of $33.04. PNM Resources Inc. has a one year low of $29.22 and a one year high of $36.15. The firm has a market cap of $2.73 billion, a PE ratio of 6851.5000 and a beta of 0.27.

PNM Resources (NYSE:PNM) last released its earnings results on Friday, October 28th. The company reported $0.78 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.75 by $0.03. PNM Resources had a net margin of 0.07% and a return on equity of 7.14%. The business had revenue of $400.37 million for the quarter, compared to analysts’ expectations of $740 million. During the same period last year, the company earned $0.76 earnings per share. The company’s quarterly revenue was down 4.1% on a year-over-year basis. On average, equities analysts forecast that PNM Resources Inc. will post $1.61 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Monday, February 13th. Investors of record on Monday, January 23rd will be given a $0.2425 dividend. The ex-dividend date is Thursday, January 19th. This is a boost from PNM Resources’s previous quarterly dividend of $0.22. This represents a $0.97 annualized dividend and a dividend yield of 2.81%.

Several brokerages recently weighed in on PNM. Jefferies Group downgraded shares of PNM Resources from a “buy” rating to a “hold” rating and set a $34.50 target price on the stock. in a research note on Thursday, January 5th. Zacks Investment Research raised shares of PNM Resources from a “hold” rating to a “buy” rating and set a $38.00 target price on the stock in a research note on Thursday, December 22nd. TheStreet raised shares of PNM Resources from a “hold” rating to a “buy” rating in a research note on Wednesday, December 14th. Barclays PLC downgraded shares of PNM Resources from an “overweight” rating to an “equal weight” rating and cut their target price for the stock from $35.00 to $33.00 in a research note on Friday, December 2nd. Finally, Williams Capital raised shares of PNM Resources from a “hold” rating to a “buy” rating and set a $35.00 target price on the stock in a research note on Tuesday, October 4th. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $35.58.

About PNM Resources

PNM Resources, Inc (PNMR) is an investor-owned holding company with approximately two regulated utilities providing electricity and electric services in New Mexico and Texas. PNMR’s electric utilities are Public Service Company of New Mexico and Subsidiaries (PNM) and Texas-New Mexico Power Company and Subsidiaries (TNMP).

Want to see what other hedge funds are holding PNM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for PNM Resources Inc. (NYSE:PNM).

Related posts

Leave a Comment