River Road Asset Management LLC Boosts Stock Holdings in PNM Resources, Inc. (NYSE:PNM)

River Road Asset Management LLC grew its position in shares of PNM Resources, Inc. (NYSE:PNM) by 107.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,154,420 shares of the utilities provider’s stock after acquiring an additional 599,211 shares during the period. River Road Asset Management LLC’s holdings in PNM Resources were worth $48,024,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Arizona State Retirement System raised its stake in PNM Resources by 1.4% in the third quarter. Arizona State Retirement System now owns 23,217 shares of the utilities provider’s stock worth $1,036,000 after buying an additional 313 shares in the last quarter. Franklin Resources Inc. raised its stake in PNM Resources by 2.1% in the second quarter. Franklin Resources Inc. now owns 16,128 shares of the utilities provider’s stock worth $727,000 after buying an additional 338 shares in the last quarter. Captrust Financial Advisors raised its stake in PNM Resources by 14.8% in the first quarter. Captrust Financial Advisors now owns 2,626 shares of the utilities provider’s stock worth $125,000 after buying an additional 339 shares in the last quarter. Massachusetts Financial Services Co. MA raised its stake in PNM Resources by 0.9% in the third quarter. Massachusetts Financial Services Co. MA now owns 44,588 shares of the utilities provider’s stock worth $1,989,000 after buying an additional 400 shares in the last quarter. Finally, Allworth Financial LP raised its stake in PNM Resources by 59.5% in the third quarter. Allworth Financial LP now owns 1,088 shares of the utilities provider’s stock worth $49,000 after buying an additional 406 shares in the last quarter. 91.68% of the stock is owned by institutional investors.

PNM Resources Stock Down 0.2 %

Shares of NYSE:PNM traded down $0.08 during trading on Wednesday, reaching $35.89. 573,803 shares of the stock traded hands, compared to its average volume of 1,462,667. The stock has a 50-day moving average of $37.18 and a two-hundred day moving average of $39.84. PNM Resources, Inc. has a 52-week low of $34.63 and a 52-week high of $49.08. 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 stock has a market cap of $3.24 billion, a P/E ratio of 34.93, a price-to-earnings-growth ratio of 0.36 and a beta of 0.35.

PNM Resources (NYSE:PNM) last issued its earnings results on Tuesday, February 6th. The utilities provider reported $0.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.14 by $0.04. PNM Resources had a net margin of 4.54% and a return on equity of 10.51%. The company had revenue of $412.11 million for the quarter, compared to analysts’ expectations of $705.05 million. During the same quarter last year, the company posted $0.15 earnings per share. As a group, sell-side analysts expect that PNM Resources, Inc. will post 2.7 earnings per share for the current fiscal year.

PNM Resources Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, May 10th. Investors of record on Friday, April 26th will be issued a $0.387 dividend. This represents a $1.55 annualized dividend and a yield of 4.31%. The ex-dividend date of this dividend is Thursday, April 25th. PNM Resources’s dividend payout ratio is currently 150.49%.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the stock. TheStreet downgraded shares of PNM Resources from a “b-” rating to a “c+” rating in a research note on Thursday, January 4th. Wells Fargo & Company raised shares of PNM Resources from an “equal weight” rating to an “overweight” rating and set a $44.00 target price for the company in a research note on Wednesday, January 3rd. StockNews.com downgraded shares of PNM Resources from a “hold” rating to a “sell” rating in a research note on Wednesday, January 17th. Barclays raised their target price on shares of PNM Resources from $40.00 to $43.00 and gave the company an “overweight” rating in a research note on Monday. Finally, Mizuho downgraded shares of PNM Resources from a “buy” rating to a “neutral” rating and set a $41.00 target price for the company. in a research note on Wednesday, January 3rd. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $46.80.

PNM Resources Company 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.