PNM Resources Inc (NYSE:PNM) Shares Sold by Moody Lynn & Lieberson LLC

Moody Lynn & Lieberson LLC reduced its position in PNM Resources Inc (NYSE:PNM) by 2.4% during the 2nd quarter, according to its most recent filing with the SEC. The firm owned 13,810 shares of the utilities provider’s stock after selling 340 shares during the quarter. Moody Lynn & Lieberson LLC’s holdings in PNM Resources were worth $703,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. Oregon Public Employees Retirement Fund increased its stake in PNM Resources by 1.4% in the 2nd quarter. Oregon Public Employees Retirement Fund now owns 32,030 shares of the utilities provider’s stock valued at $1,631,000 after buying an additional 455 shares during the period. Mason Street Advisors LLC increased its stake in PNM Resources by 1.5% in the 1st quarter. Mason Street Advisors LLC now owns 42,358 shares of the utilities provider’s stock valued at $2,005,000 after buying an additional 635 shares during the period. Virginia Retirement Systems ET AL increased its stake in PNM Resources by 0.6% in the 1st quarter. Virginia Retirement Systems ET AL now owns 171,000 shares of the utilities provider’s stock valued at $8,095,000 after buying an additional 1,000 shares during the period. First Citizens Bank & Trust Co. increased its stake in PNM Resources by 17.5% in the 1st quarter. First Citizens Bank & Trust Co. now owns 8,907 shares of the utilities provider’s stock valued at $422,000 after buying an additional 1,324 shares during the period. Finally, Osborn Williams & Donohoe LLC acquired a new position in PNM Resources in the 1st quarter valued at $69,000. 90.14% of the stock is currently owned by institutional investors.

Shares of NYSE PNM traded down $0.50 during trading on Friday, hitting $49.97. 2,145 shares of the company were exchanged, compared to its average volume of 308,595. The stock has a market cap of $4.02 billion, a P/E ratio of 25.04, a price-to-earnings-growth ratio of 4.38 and a beta of 0.29. PNM Resources Inc has a 1 year low of $37.67 and a 1 year high of $52.10. The stock has a fifty day moving average price of $50.58. The company has a debt-to-equity ratio of 1.66, a quick ratio of 0.59 and a current ratio of 0.69.

PNM Resources (NYSE:PNM) last issued its earnings results on Tuesday, May 7th. The utilities provider reported $0.13 EPS for the quarter, topping the consensus estimate of $0.11 by $0.02. The company had revenue of $349.65 million for the quarter, compared to analyst estimates of $273.12 million. PNM Resources had a net margin of 6.10% and a return on equity of 8.68%. The business’s revenue was up 10.0% on a year-over-year basis. During the same period in the previous year, the firm earned $0.21 EPS. As a group, sell-side analysts forecast that PNM Resources Inc will post 2.08 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, August 16th. Shareholders of record on Tuesday, August 6th will be given a dividend of $0.29 per share. The ex-dividend date of this dividend is Monday, August 5th. This represents a $1.16 annualized dividend and a dividend yield of 2.32%. PNM Resources’s payout ratio is currently 58.00%.

Several equities analysts have issued reports on the stock. Wells Fargo & Co set a $52.00 price objective on shares of PNM Resources and gave the company a “hold” rating in a research note on Monday, July 15th. Zacks Investment Research cut shares of PNM Resources from a “hold” rating to a “sell” rating in a research note on Wednesday. Mizuho boosted their target price on shares of PNM Resources from $52.50 to $54.00 and gave the stock a “buy” rating in a research report on Monday, July 15th. Barclays restated a “sell” rating and set a $49.00 target price on shares of PNM Resources in a research report on Wednesday, June 19th. Finally, Bank of America upgraded shares of PNM Resources from an “underperform” rating to a “neutral” rating and set a $48.00 target price on the stock in a research report on Thursday, April 25th. Three analysts have rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $50.19.

About PNM Resources

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.

Featured Article: What is the role of the G-20?

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 (NYSE:PNM).

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

Receive News & Ratings for PNM Resources Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PNM Resources and related companies with MarketBeat.com's FREE daily email newsletter.