PNM Resources, Inc. (Holding Co.) (NYSE:PNM) Reaches New 12-Month High at $41.42

PNM Resources, Inc. (Holding Co.) (NYSE:PNM)’s share price hit a new 52-week high during mid-day trading on Monday . The company traded as high as $41.42 and last traded at $41.43, with a volume of 114,737 shares. The stock had previously closed at $41.20.

Several brokerages have issued reports on PNM. Royal Bank Of Canada set a $39.00 price target on shares of PNM Resources, Inc. (Holding Co.) and gave the company a “buy” rating in a report on Saturday, June 3rd. Argus restated a “buy” rating and set a $41.40 target price (down from $43.00) on shares of PNM Resources, Inc. (Holding Co.) in a research report on Friday, August 11th. Zacks Investment Research upgraded shares of PNM Resources, Inc. (Holding Co.) from a “sell” rating to a “hold” rating in a research report on Wednesday, July 12th. BidaskClub cut PNM Resources, Inc. (Holding Co.) from a “buy” rating to a “hold” rating in a research note on Saturday, July 1st. Finally, Jefferies Group LLC reaffirmed a “hold” rating and issued a $38.00 price target on shares of PNM Resources, Inc. (Holding Co.) in a research note on Friday, July 21st. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. PNM Resources, Inc. (Holding Co.) presently has an average rating of “Hold” and an average price target of $37.27.

The stock has a 50 day moving average price of $39.45 and a 200 day moving average price of $37.76. The company has a market cap of $3.31 billion, a price-to-earnings ratio of 23.85 and a beta of 0.32.

PNM Resources, Inc. (Holding Co.) (NYSE:PNM) last posted its earnings results on Friday, July 28th. The utilities provider reported $0.49 EPS for the quarter, topping analysts’ consensus estimates 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 company had revenue of $362.32 million for the quarter. During the same quarter in the prior year, the firm posted $0.40 earnings per share. Equities analysts expect that PNM Resources, Inc. will post $1.85 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Monday, August 14th. Stockholders of record on Monday, August 7th were paid a dividend of $0.2425 per share. The ex-dividend date of this dividend was Thursday, August 3rd. This represents a $0.97 dividend on an annualized basis and a dividend yield of 2.34%. PNM Resources, Inc. (Holding Co.)’s dividend payout ratio is 55.43%.

In other PNM Resources, Inc. (Holding Co.) news, SVP Patrick V. Apodaca sold 5,333 shares of the stock in a transaction dated Wednesday, August 2nd. The stock was sold at an average price of $40.43, for a total transaction of $215,613.19. Following the sale, the senior vice president now directly owns 65,009 shares of the company’s stock, valued at approximately $2,628,313.87. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Norman P. Becker bought 2,500 shares of the company’s stock in a transaction dated Monday, June 5th. The shares were acquired at an average price of $38.98 per share, for a total transaction of $97,450.00. Following the completion of the transaction, the director now directly owns 5,732 shares in the company, valued at $223,433.36. The disclosure for this purchase can be found here. 1.26% of the stock is owned by corporate insiders.

Several hedge funds have recently added to or reduced their stakes in PNM. Capstone Asset Management Co. raised its stake in PNM Resources, Inc. (Holding Co.) by 1.5% in the first quarter. Capstone Asset Management Co. now owns 6,956 shares of the utilities provider’s stock valued at $257,000 after buying an additional 100 shares during the last quarter. Wedge Capital Management L L P NC increased its stake in PNM Resources, Inc. (Holding Co.) by 0.9% in the first quarter. Wedge Capital Management L L P NC now owns 13,493 shares of the utilities provider’s stock valued at $499,000 after buying an additional 121 shares during the period. Meadow Creek Investment Management LLC increased its stake in PNM Resources, Inc. (Holding Co.) by 3.9% in the first quarter. Meadow Creek Investment Management LLC now owns 3,542 shares of the utilities provider’s stock valued at $131,000 after buying an additional 132 shares during the period. Glen Harbor Capital Management LLC increased its stake in PNM Resources, Inc. (Holding Co.) by 3.9% in the first quarter. Glen Harbor Capital Management LLC now owns 4,508 shares of the utilities provider’s stock valued at $167,000 after buying an additional 168 shares during the period. Finally, Elkfork Partners LLC increased its position in PNM Resources, Inc. (Holding Co.) by 3.9% in the first quarter. Elkfork Partners LLC now owns 5,474 shares of the utilities provider’s stock valued at $203,000 after buying an additional 204 shares during the period. 94.73% of the stock is currently owned by hedge funds and other institutional investors.

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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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