PNM Resources, Inc. (Holding Co.) (NYSE:PNM) SVP Patrick V. Apodaca sold 5,333 shares of the company’s stock in a transaction on Wednesday, August 2nd. The shares were sold at an average price of $40.43, for a total value of $215,613.19. Following the completion of the transaction, the senior vice president now directly owns 65,009 shares in the company, valued at approximately $2,628,313.87. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.
PNM Resources, Inc. (PNM) opened at 41.20 on Friday. The stock’s 50 day moving average price is $38.74 and its 200-day moving average price is $37.12. PNM Resources, Inc. has a 52-week low of $30.95 and a 52-week high of $41.30. The company has a market cap of $3.28 billion, a P/E ratio of 23.68 and a beta of 0.32.
PNM Resources, Inc. (Holding Co.) (NYSE:PNM) last released its earnings results on Friday, July 28th. The utilities provider reported $0.49 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.45 by $0.04. PNM Resources, Inc. (Holding Co.) had a return on equity of 8.57% and a net margin of 10.05%. The firm had revenue of $362.32 million during the quarter. During the same period in the previous year, the firm earned $0.40 earnings per share. On average, equities analysts predict that PNM Resources, Inc. will post $1.85 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 14th. Stockholders of record on Monday, August 7th will be given a dividend of $0.2425 per share. The ex-dividend date is Thursday, August 3rd. This represents a $0.97 annualized dividend and a dividend yield of 2.35%. PNM Resources, Inc. (Holding Co.)’s dividend payout ratio is currently 55.43%.
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Several equities analysts have commented on PNM shares. Zacks Investment Research downgraded PNM Resources, Inc. (Holding Co.) from a “hold” rating to a “sell” rating in a research report on Wednesday, April 12th. BidaskClub downgraded PNM Resources, Inc. (Holding Co.) from a “buy” rating to a “hold” rating in a research report on Saturday, July 1st. Mizuho started coverage on PNM Resources, Inc. (Holding Co.) in a research report on Wednesday, April 19th. They issued an “underperform” rating and a $32.25 price objective on the stock. Jefferies Group LLC reaffirmed a “hold” rating and issued a $38.00 price objective on shares of PNM Resources, Inc. (Holding Co.) in a research report on Friday, July 21st. Finally, Royal Bank Of Canada set a $39.00 price objective on PNM Resources, Inc. (Holding Co.) and gave the company a “buy” rating in a research report on Saturday, June 3rd. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and three have given a buy rating to the company. PNM Resources, Inc. (Holding Co.) currently has an average rating of “Hold” and a consensus target price of $36.47.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. increased its stake in PNM Resources, Inc. (Holding Co.) by 16,661.9% in the first quarter. BlackRock Inc. now owns 8,489,239 shares of the utilities provider’s stock valued at $314,103,000 after buying an additional 8,438,593 shares during the last quarter. Vanguard Group Inc. increased its stake in PNM Resources, Inc. (Holding Co.) by 4.6% in the first quarter. Vanguard Group Inc. now owns 7,082,734 shares of the utilities provider’s stock valued at $262,061,000 after buying an additional 308,821 shares in the last quarter. Alliancebernstein L.P. increased its stake in PNM Resources, Inc. (Holding Co.) by 5.2% in the first quarter. Alliancebernstein L.P. now owns 2,928,634 shares of the utilities provider’s stock valued at $108,359,000 after buying an additional 144,125 shares in the last quarter. Goldman Sachs Group Inc. increased its stake in PNM Resources, Inc. (Holding Co.) by 5.7% in the first quarter. Goldman Sachs Group Inc. now owns 2,723,894 shares of the utilities provider’s stock valued at $100,784,000 after buying an additional 147,047 shares in the last quarter. Finally, State Street Corp increased its stake in PNM Resources, Inc. (Holding Co.) by 0.4% in the first quarter. State Street Corp now owns 2,717,553 shares of the utilities provider’s stock valued at $100,549,000 after buying an additional 11,978 shares in the last quarter. 94.39% of the stock is owned by institutional investors and hedge funds.
PNM Resources, Inc. (Holding Co.) Company Profile
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 (PNM) and Texas-New Mexico Power Company (TNMP). It operates in three segments: PNM, TNMP, and Corporate and Other.
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