Shares of PNM Resources Inc (NYSE:PNM) hit a new 52-week high during mid-day trading on Monday . The company traded as high as $52.98 and last traded at $52.48, with a volume of 84965 shares changing hands. The stock had previously closed at $52.92.
PNM has been the topic of a number of research analyst reports. Zacks Investment Research cut shares of PNM Resources from a “hold” rating to a “sell” rating in a report on Wednesday, July 31st. TheStreet raised shares of PNM Resources from a “c+” rating to a “b-” rating in a research report on Thursday, August 29th. UBS Group boosted their price target on shares of PNM Resources from $50.00 to $53.00 and gave the company a “neutral” rating in a research report on Friday, September 6th. Barclays reissued a “sell” rating and issued a $49.00 price target on shares of PNM Resources in a research report on Wednesday, June 19th. Finally, Bank of America raised shares of PNM Resources from a “neutral” rating to a “buy” rating and set a $56.00 price target on the stock in a research report on Monday, September 30th. Three analysts have rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the company’s stock. PNM Resources has a consensus rating of “Hold” and a consensus price target of $51.86.
The company has a current ratio of 0.45, a quick ratio of 0.34 and a debt-to-equity ratio of 1.67. The firm has a market cap of $4.22 billion, a P/E ratio of 25.95, a price-to-earnings-growth ratio of 4.63 and a beta of 0.21. The stock’s fifty day moving average is $51.07 and its two-hundred day moving average is $49.13.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, November 1st will be paid a $0.29 dividend. The ex-dividend date of this dividend is Thursday, October 31st. This represents a $1.16 dividend on an annualized basis and a dividend yield of 2.23%. PNM Resources’s dividend payout ratio (DPR) is 58.00%.
Institutional investors have recently made changes to their positions in the company. First Trust Advisors LP grew its position in PNM Resources by 666.0% during the 1st quarter. First Trust Advisors LP now owns 91,091 shares of the utilities provider’s stock valued at $4,312,000 after purchasing an additional 79,200 shares during the last quarter. Swiss National Bank increased its position in PNM Resources by 3.1% during the first quarter. Swiss National Bank now owns 145,200 shares of the utilities provider’s stock worth $6,874,000 after buying an additional 4,400 shares during the period. Dynamic Technology Lab Private Ltd acquired a new position in PNM Resources during the first quarter worth approximately $350,000. Northern Trust Corp increased its position in PNM Resources by 0.7% during the first quarter. Northern Trust Corp now owns 2,175,967 shares of the utilities provider’s stock worth $103,010,000 after buying an additional 14,464 shares during the period. Finally, ClariVest Asset Management LLC increased its position in PNM Resources by 4.3% during the first quarter. ClariVest Asset Management LLC now owns 60,300 shares of the utilities provider’s stock worth $2,854,000 after buying an additional 2,500 shares during the period. 90.37% of the stock is owned by institutional investors.
About PNM Resources (NYSE:PNM)
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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