Dimensional Fund Advisors LP boosted its stake in PNM Resources Inc (NYSE:PNM) by 1.9% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,753,107 shares of the utilities provider’s stock after acquiring an additional 33,289 shares during the quarter. Dimensional Fund Advisors LP owned 2.20% of PNM Resources worth $72,035,000 as of its most recent SEC filing.
A number of other large investors have also modified their holdings of PNM. Oregon Public Employees Retirement Fund grew its position in shares of PNM Resources by 4,009.0% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 1,297,417 shares of the utilities provider’s stock worth $32,000 after buying an additional 1,265,842 shares during the period. BlackRock Inc. lifted its holdings in shares of PNM Resources by 1.9% during the 4th quarter. BlackRock Inc. now owns 9,639,611 shares of the utilities provider’s stock worth $396,091,000 after acquiring an additional 178,580 shares during the period. Rhumbline Advisers lifted its holdings in shares of PNM Resources by 49.2% during the 4th quarter. Rhumbline Advisers now owns 260,152 shares of the utilities provider’s stock worth $10,690,000 after acquiring an additional 85,735 shares during the period. Hsbc Holdings PLC lifted its holdings in shares of PNM Resources by 186.2% during the 4th quarter. Hsbc Holdings PLC now owns 90,744 shares of the utilities provider’s stock worth $3,729,000 after acquiring an additional 59,042 shares during the period. Finally, ClariVest Asset Management LLC bought a new stake in shares of PNM Resources during the 4th quarter worth approximately $2,375,000. 90.26% of the stock is currently owned by hedge funds and other institutional investors.
Shares of NYSE:PNM traded up $0.19 during trading on Friday, hitting $50.72. The company’s stock had a trading volume of 222,889 shares, compared to its average volume of 405,545. 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 Inc has a fifty-two week low of $36.15 and a fifty-two week high of $50.94. The stock has a market cap of $4.00 billion, a price-to-earnings ratio of 25.36, a price-to-earnings-growth ratio of 4.45 and a beta of 0.24.
Several analysts have commented on PNM shares. Wells Fargo & Co set a $45.00 price objective on shares of PNM Resources and gave the stock a “hold” rating in a research report on Thursday, February 28th. Barclays set a $47.00 target price on shares of PNM Resources and gave the stock a “sell” rating in a research note on Friday, May 17th. Zacks Investment Research upgraded shares of PNM Resources from a “hold” rating to a “buy” rating and set a $49.00 target price on the stock in a research note on Saturday, March 2nd. Mizuho upgraded shares of PNM Resources from an “underperform” rating to a “neutral” rating and raised their target price for the stock from $42.50 to $43.50 in a research note on Friday, March 8th. Finally, Williams Capital restated a “sell” rating on shares of PNM Resources in a research note on Monday, March 18th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $47.94.
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.
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