First Trust Advisors LP boosted its stake in shares of PNM Resources Inc (NYSE:PNM) by 666.0% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 91,091 shares of the utilities provider’s stock after buying an additional 79,200 shares during the period. First Trust Advisors LP’s holdings in PNM Resources were worth $4,312,000 at the end of the most recent reporting period.
Other hedge funds also recently bought and sold shares of the company. Oregon Public Employees Retirement Fund increased its holdings in shares of PNM Resources by 4,009.0% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 1,297,417 shares of the utilities provider’s stock worth $32,000 after purchasing an additional 1,265,842 shares in the last quarter. Osborn Williams & Donohoe LLC bought a new stake in shares of PNM Resources in the 1st quarter worth $69,000. IFP Advisors Inc increased its holdings in shares of PNM Resources by 32.9% in the 4th quarter. IFP Advisors Inc now owns 1,720 shares of the utilities provider’s stock worth $70,000 after purchasing an additional 426 shares in the last quarter. Quadrant Capital Group LLC increased its holdings in shares of PNM Resources by 1,004.6% in the 1st quarter. Quadrant Capital Group LLC now owns 2,176 shares of the utilities provider’s stock worth $100,000 after purchasing an additional 1,979 shares in the last quarter. Finally, Meeder Asset Management Inc. bought a new stake in shares of PNM Resources in the 1st quarter worth $123,000. 90.26% of the stock is owned by institutional investors.
PNM has been the subject of a number of research analyst reports. Wells Fargo & Co set a $45.00 target price on PNM Resources and gave the stock a “hold” rating in a report on Thursday, February 28th. Bank of America reissued an “underperform” rating and issued a $43.00 target price (up previously from $40.00) on shares of PNM Resources in a report on Thursday, February 28th. Williams Capital reissued a “sell” rating on shares of PNM Resources in a report on Monday, March 18th. Mizuho raised PNM Resources from an “underperform” rating to a “neutral” rating and lifted their target price for the stock from $42.50 to $43.50 in a report on Friday, March 8th. Finally, Zacks Investment Research raised PNM Resources from a “hold” rating to a “buy” rating and set a $49.00 target price for the company in a report on Saturday, March 2nd. Two analysts have rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $47.94.
Shares of PNM opened at $50.17 on Thursday. The company has a debt-to-equity ratio of 1.66, a current ratio of 0.69 and a quick ratio of 0.59. PNM Resources Inc has a one year low of $35.45 and a one year high of $50.60. The firm has a market capitalization of $3.97 billion, a P/E ratio of 25.09, a PEG ratio of 4.41 and a beta of 0.24.
PNM Resources (NYSE:PNM) last issued its quarterly earnings data on Tuesday, May 7th. The utilities provider reported $0.13 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.11 by $0.02. PNM Resources had a return on equity of 8.68% and a net margin of 6.10%. The company had revenue of $349.65 million during the quarter, compared to analyst estimates of $273.12 million. During the same quarter in the previous year, the company posted $0.21 earnings per share. PNM Resources’s revenue was up 10.0% compared to the same quarter last year. Equities research analysts predict that PNM Resources Inc will post 2.16 EPS for the current fiscal year.
About PNM Resources
PNM Resources, Inc, through its subsidiaries, engages in the energy and energy-related businesses 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 is primarily involved in the generation, transmission, and distribution of electricity.
Recommended Story: Quiet Period Expirations
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).
Receive News & Ratings for PNM Resources Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PNM Resources and related companies with MarketBeat.com's FREE daily email newsletter.