PNM Resources, Inc. (Holding Co.) (NYSE:PNM) is Crow Point Partners LLC’s 3rd Largest Position

Crow Point Partners LLC maintained its position in PNM Resources, Inc. (Holding Co.) (NYSE:PNM) during the second quarter, Holdings Channel reports. The fund owned 775,000 shares of the utilities provider’s stock at the end of the second quarter. PNM Resources, Inc. (Holding Co.) makes up about 4.9% of Crow Point Partners LLC’s holdings, making the stock its 3rd largest position. Crow Point Partners LLC’s holdings in PNM Resources, Inc. (Holding Co.) were worth $29,838,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Oregon Public Employees Retirement Fund increased its position in shares of PNM Resources, Inc. (Holding Co.) by 4.5% in the second quarter. Oregon Public Employees Retirement Fund now owns 29,116 shares of the utilities provider’s stock worth $1,114,000 after buying an additional 1,258 shares in the last quarter. Piedmont Investment Advisors LLC increased its position in shares of PNM Resources, Inc. (Holding Co.) by 121.0% in the first quarter. Piedmont Investment Advisors LLC now owns 36,808 shares of the utilities provider’s stock worth $1,362,000 after buying an additional 20,150 shares in the last quarter. Goldman Sachs Group Inc. increased its position in shares of PNM Resources, Inc. (Holding Co.) by 5.7% in the first quarter. Goldman Sachs Group Inc. now owns 2,723,894 shares of the utilities provider’s stock worth $100,784,000 after buying an additional 147,047 shares in the last quarter. HighTower Advisors LLC acquired a new position in shares of PNM Resources, Inc. (Holding Co.) during the first quarter worth about $207,000. Finally, Paloma Partners Management Co increased its position in shares of PNM Resources, Inc. (Holding Co.) by 84.7% in the first quarter. Paloma Partners Management Co now owns 53,200 shares of the utilities provider’s stock worth $1,968,000 after buying an additional 24,400 shares in the last quarter. Hedge funds and other institutional investors own 94.07% of the company’s stock.

PNM Resources, Inc. (NYSE:PNM) remained flat at $37.40 during trading on Monday. 451,682 shares of the company were exchanged. The company has a market cap of $2.98 billion, a PE ratio of 23.10 and a beta of 0.32. PNM Resources, Inc. has a 12-month low of $30.95 and a 12-month high of $40.10. The stock’s 50-day moving average price is $38.47 and its 200 day moving average price is $36.40.

PNM Resources, Inc. (Holding Co.) (NYSE:PNM) last announced its earnings results on Friday, April 28th. The utilities provider reported $0.28 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.24 by $0.04. The company had revenue of $330.20 million during the quarter. PNM Resources, Inc. (Holding Co.) had a net margin of 9.62% and a return on equity of 8.22%. PNM Resources, Inc. (Holding Co.)’s revenue was up 6.2% on a year-over-year basis. During the same quarter last year, the business earned $0.13 earnings per share. Equities analysts predict that PNM Resources, Inc. will post $1.82 earnings per share for the current year.

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A number of research analysts recently issued reports on the company. Royal Bank Of Canada set a $39.00 price target on PNM Resources, Inc. (Holding Co.) and gave the company a “buy” rating in a report on Saturday, June 3rd. Zacks Investment Research cut PNM Resources, Inc. (Holding Co.) from a “hold” rating to a “sell” rating in a research report on Friday, March 31st. BidaskClub cut PNM Resources, Inc. (Holding Co.) from a “buy” rating to a “hold” rating in a research report on Saturday, July 1st. Evercore ISI assumed coverage on PNM Resources, Inc. (Holding Co.) in a research report on Friday, March 31st. They set an “in-line” rating and a $36.00 price objective on the stock. Finally, Mizuho assumed coverage on PNM Resources, Inc. (Holding Co.) in a research report on Wednesday, April 19th. They issued an “underperform” rating and a $32.25 price target on the stock. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and three have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $36.31.

In other news, Director Norman P. Becker bought 2,500 shares of the stock in a transaction on Monday, June 5th. The stock was bought at an average cost of $38.98 per share, for a total transaction of $97,450.00. Following the completion of the purchase, the director now directly owns 5,732 shares in the company, valued at $223,433.36. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 1.26% of the stock is owned by company insiders.

About PNM Resources, Inc. (Holding Co.)

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.

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. (Holding Co.) (NYSE:PNM).

Institutional Ownership by Quarter for PNM Resources, Inc. (Holding Co.) (NYSE:PNM)

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