Signaturefd LLC Sells 2,720 Shares of PNM Resources, Inc. (NYSE:PNM)

Signaturefd LLC reduced its position in PNM Resources, Inc. (NYSE:PNM) by 63.3% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,575 shares of the utilities provider’s stock after selling 2,720 shares during the quarter. Signaturefd LLC’s holdings in PNM Resources were worth $66,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. River Road Asset Management LLC boosted its position in shares of PNM Resources by 107.9% in the fourth quarter. River Road Asset Management LLC now owns 1,154,420 shares of the utilities provider’s stock valued at $48,024,000 after acquiring an additional 599,211 shares during the period. Advisors Preferred LLC bought a new position in shares of PNM Resources in the fourth quarter valued at approximately $2,439,000. Vanguard Group Inc. boosted its position in shares of PNM Resources by 0.4% in the third quarter. Vanguard Group Inc. now owns 9,379,034 shares of the utilities provider’s stock valued at $418,399,000 after acquiring an additional 40,253 shares during the period. Calamos Advisors LLC lifted its position in PNM Resources by 32.1% during the fourth quarter. Calamos Advisors LLC now owns 991,028 shares of the utilities provider’s stock valued at $41,227,000 after purchasing an additional 241,028 shares during the last quarter. Finally, Walleye Capital LLC bought a new stake in PNM Resources during the third quarter valued at approximately $24,754,000. 91.68% of the stock is currently owned by institutional investors.

PNM Resources Trading Up 0.9 %

PNM stock opened at $37.38 on Thursday. The company has a market capitalization of $3.37 billion, a PE ratio of 36.29, a price-to-earnings-growth ratio of 10.24 and a beta of 0.35. PNM Resources, Inc. has a one year low of $34.63 and a one year high of $48.71. The company’s 50 day moving average price is $37.03 and its two-hundred day moving average price is $39.26. The company has a debt-to-equity ratio of 1.77, a quick ratio of 0.31 and a current ratio of 0.39.

PNM Resources (NYSE:PNM) last posted its quarterly earnings results on Tuesday, April 30th. The utilities provider reported $0.41 EPS for the quarter, missing the consensus estimate of $0.68 by ($0.27). The business had revenue of $436.90 million for the quarter, compared to analysts’ expectations of $531.00 million. PNM Resources had a return on equity of 10.51% and a net margin of 4.54%. The company’s revenue was down 19.7% compared to the same quarter last year. During the same period last year, the business posted $0.55 earnings per share. As a group, analysts predict that PNM Resources, Inc. will post 2.7 earnings per share for the current fiscal year.

PNM Resources Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, May 10th. Investors of record on Friday, April 26th will be issued a dividend of $0.387 per share. The ex-dividend date of this dividend is Thursday, April 25th. This represents a $1.55 dividend on an annualized basis and a yield of 4.14%. PNM Resources’s dividend payout ratio is currently 150.49%.

Analysts Set New Price Targets

Several equities research analysts have issued reports on PNM shares. Mizuho lowered 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 report on Wednesday, January 3rd. Wells Fargo & Company upgraded 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 report on Wednesday, January 3rd. TheStreet lowered shares of PNM Resources from a “b-” rating to a “c+” rating in a research report on Thursday, January 4th. StockNews.com lowered shares of PNM Resources from a “hold” rating to a “sell” rating in a research report on Wednesday, January 17th. Finally, Barclays lifted their target price on shares of PNM Resources from $40.00 to $43.00 and gave the company an “overweight” rating in a research report on Monday, April 15th. 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’s stock. Based on data from MarketBeat, PNM Resources has an average rating of “Hold” and an average target price of $46.80.

About PNM Resources

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.