Bank of Montreal Can Has $5.80 Million Position in PNM Resources Inc (PNM)

Bank of Montreal Can increased its position in shares of PNM Resources Inc (NYSE:PNM) by 34.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 147,001 shares of the utilities provider’s stock after purchasing an additional 37,953 shares during the period. Bank of Montreal Can owned 0.18% of PNM Resources worth $5,800,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of the stock. BlackRock Inc. grew its stake in shares of PNM Resources by 2.9% during the second quarter. BlackRock Inc. now owns 9,277,263 shares of the utilities provider’s stock worth $360,886,000 after purchasing an additional 261,154 shares in the last quarter. Renaissance Technologies LLC boosted its stake in PNM Resources by 1.1% in the second quarter. Renaissance Technologies LLC now owns 2,305,200 shares of the utilities provider’s stock valued at $89,672,000 after acquiring an additional 25,900 shares in the last quarter. Northern Trust Corp boosted its stake in PNM Resources by 0.5% in the second quarter. Northern Trust Corp now owns 2,206,321 shares of the utilities provider’s stock valued at $85,826,000 after acquiring an additional 12,047 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in PNM Resources by 1.9% in the second quarter. Dimensional Fund Advisors LP now owns 1,718,588 shares of the utilities provider’s stock valued at $66,853,000 after acquiring an additional 31,516 shares in the last quarter. Finally, Victory Capital Management Inc. boosted its stake in PNM Resources by 6.1% in the second quarter. Victory Capital Management Inc. now owns 1,205,332 shares of the utilities provider’s stock valued at $46,888,000 after acquiring an additional 69,638 shares in the last quarter. Hedge funds and other institutional investors own 90.88% of the company’s stock.

Several equities analysts have issued reports on the stock. Zacks Investment Research upgraded shares of PNM Resources from a “hold” rating to a “buy” rating and set a $44.00 price objective for the company in a research note on Thursday, August 2nd. Barclays assumed coverage on shares of PNM Resources in a research note on Tuesday, July 10th. They issued an “underweight” rating and a $37.00 price objective for the company. Finally, Bank of America decreased their price objective on shares of PNM Resources from $38.00 to $36.00 and set an “underperform” rating for the company in a research note on Tuesday, October 16th. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating and one has issued a strong buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $38.25.



NYSE PNM opened at $38.98 on Wednesday. The company has a debt-to-equity ratio of 1.19, a current ratio of 0.34 and a quick ratio of 0.27. PNM Resources Inc has a 1 year low of $33.75 and a 1 year high of $46.00. The firm has a market capitalization of $3.08 billion, a price-to-earnings ratio of 20.09, a P/E/G ratio of 4.29 and a beta of 0.15.

PNM Resources (NYSE:PNM) last released its quarterly earnings data on Tuesday, July 31st. The utilities provider reported $0.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.43 by $0.10. PNM Resources had a net margin of 5.12% and a return on equity of 8.58%. The company had revenue of $352.30 million during the quarter, compared to the consensus estimate of $362.10 million. During the same quarter in the prior year, the firm posted $0.49 earnings per share. PNM Resources’s revenue for the quarter was down 2.8% on a year-over-year basis. On average, sell-side analysts anticipate that PNM Resources Inc will post 1.95 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 16th. Stockholders of record on Friday, November 2nd will be paid a dividend of $0.265 per share. The ex-dividend date is Thursday, November 1st. This represents a $1.06 annualized dividend and a dividend yield of 2.72%. PNM Resources’s dividend payout ratio (DPR) is 54.64%.

PNM Resources Company Profile

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.

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Institutional Ownership by Quarter for PNM Resources (NYSE:PNM)

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