West Family Investments Inc. Invests $283,000 in PNM Resources, Inc. (NYSE:PNM)

West Family Investments Inc. bought a new position in shares of PNM Resources, Inc. (NYSE:PNM) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 6,798 shares of the utilities provider’s stock, valued at approximately $283,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. International Assets Investment Management LLC lifted its stake in PNM Resources by 4,061.5% in the 4th quarter. International Assets Investment Management LLC now owns 1,082 shares of the utilities provider’s stock valued at $45,000 after buying an additional 1,056 shares in the last quarter. Fifth Third Bancorp raised its holdings in PNM Resources by 64.7% in the 3rd quarter. Fifth Third Bancorp now owns 1,100 shares of the utilities provider’s stock valued at $49,000 after acquiring an additional 432 shares during the last quarter. Allworth Financial LP raised its holdings in PNM Resources by 59.5% in the 3rd quarter. Allworth Financial LP now owns 1,088 shares of the utilities provider’s stock valued at $49,000 after acquiring an additional 406 shares during the last quarter. Millburn Ridgefield Corp acquired a new stake in PNM Resources in the 3rd quarter valued at about $66,000. Finally, Catalyst Capital Advisors LLC acquired a new stake in PNM Resources in the 3rd quarter valued at about $66,000. 91.68% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

PNM has been the subject of a number of recent analyst reports. TheStreet downgraded shares of 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. 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. Barclays lifted their price target on shares of PNM Resources from $40.00 to $43.00 and gave the stock an “overweight” rating in a research note on Monday, April 15th. Finally, Mizuho lowered shares of PNM Resources from a “buy” rating to a “neutral” rating and set a $41.00 price target on the stock. in a research note on Wednesday, January 3rd. One research analyst has rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $46.80.

PNM Resources Stock Performance

PNM Resources stock traded up $0.17 during mid-day trading on Thursday, reaching $37.56. 201,703 shares of the company were exchanged, compared to its average volume of 1,351,120. The firm has a market cap of $3.39 billion, a PE ratio of 41.23, a price-to-earnings-growth ratio of 10.24 and a beta of 0.35. The company has a debt-to-equity ratio of 1.77, a quick ratio of 0.31 and a current ratio of 0.39. The firm’s 50-day simple moving average is $37.03 and its two-hundred day simple moving average is $39.26. PNM Resources, Inc. has a twelve month low of $34.63 and a twelve month high of $48.71.

PNM Resources (NYSE:PNM) last posted 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). PNM Resources had a net margin of 4.38% and a return on equity of 9.99%. The firm had revenue of $436.90 million during the quarter, compared to analysts’ expectations of $531.00 million. During the same quarter last year, the business earned $0.55 earnings per share. The business’s quarterly revenue was down 19.7% on a year-over-year basis. Equities analysts predict that PNM Resources, Inc. will post 2.7 earnings per share 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. Investors of record on Friday, April 26th will be paid a $0.387 dividend. The ex-dividend date is Thursday, April 25th. This represents a $1.55 dividend on an annualized basis and a dividend yield of 4.12%. PNM Resources’s dividend payout ratio (DPR) is presently 170.33%.

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.