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Neuberger Berman Group LLC trimmed its holdings in shares of PNM Resources, Inc. (NYSE:PNM – Get Rating) by 25.8% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 328,255 shares of the utilities provider’s stock after selling 114,096 shares during the period. Neuberger Berman Group LLC owned approximately 0.38% of PNM Resources worth $16,016,000 at the end of the most recent reporting period.
A number of other large investors also recently modified their holdings of PNM. PSquared Asset Management AG acquired a new position in shares of PNM Resources during the fourth quarter valued at $61,017,000. Grantham Mayo Van Otterloo & Co. LLC boosted its position in shares of PNM Resources by 697.7% during the 3rd quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 984,782 shares of the utilities provider’s stock valued at $45,034,000 after purchasing an additional 861,328 shares in the last quarter. Citadel Advisors LLC grew its stake in shares of PNM Resources by 101.2% in the 3rd quarter. Citadel Advisors LLC now owns 1,365,336 shares of the utilities provider’s stock worth $62,437,000 after purchasing an additional 686,696 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund raised its holdings in shares of PNM Resources by 101.7% in the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,244,400 shares of the utilities provider’s stock worth $56,906,000 after purchasing an additional 627,400 shares in the last quarter. Finally, State Street Corp lifted its stake in PNM Resources by 17.5% during the first quarter. State Street Corp now owns 3,160,826 shares of the utilities provider’s stock valued at $150,677,000 after purchasing an additional 471,143 shares during the last quarter. 89.88% of the stock is owned by institutional investors and hedge funds.
Analysts Set New Price Targets
PNM has been the topic of several recent research reports. Siebert Williams Shank upgraded shares of PNM Resources from a “hold” rating to a “buy” rating and lifted their price target for the stock from $53.00 to $55.00 in a research report on Tuesday, May 16th. StockNews.com cut PNM Resources from a “buy” rating to a “hold” rating in a report on Wednesday, May 24th.
PNM Resources Stock Performance
Shares of PNM opened at $46.66 on Thursday. PNM Resources, Inc. has a one year low of $43.43 and a one year high of $49.60. The company has a 50-day moving average of $47.58 and a two-hundred day moving average of $48.50. The stock has a market cap of $4.00 billion, a price-to-earnings ratio of 19.28, a PEG ratio of 4.09 and a beta of 0.42. The company has a debt-to-equity ratio of 1.62, a current ratio of 0.29 and a quick ratio of 0.24.
PNM Resources (NYSE:PNM – Get Rating) last announced its earnings results on Friday, May 5th. The utilities provider reported $0.55 EPS for the quarter, topping the consensus estimate of $0.39 by $0.16. PNM Resources had a net margin of 8.89% and a return on equity of 10.55%. The company had revenue of $544.00 million during the quarter, compared to analysts’ expectations of $460.14 million. During the same period last year, the company posted $0.50 earnings per share. The business’s revenue for the quarter was up 22.5% on a year-over-year basis. On average, equities research analysts expect that PNM Resources, Inc. will post 2.7 earnings per share for the current year.
About PNM Resources
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PNM Resources, Inc operates as an investor-owned holding company, which provides electricity and electric services in New Mexico and Texas. It operates through the following segments: Public Service Company of New Mexico (PNM), Texas-New Mexico Power Company (TNMP), and Corporate and Other. The PNM segment includes the retail electric utility operations of the company.
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