Parametric Portfolio Associates LLC lifted its stake in PNM Resources Inc (NYSE:PNM) by 6.5% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 315,651 shares of the utilities provider’s stock after purchasing an additional 19,366 shares during the period. Parametric Portfolio Associates LLC owned about 0.40% of PNM Resources worth $14,943,000 at the end of the most recent quarter.
A number of other large investors also recently added to or reduced their stakes in the stock. BlackRock Inc. increased its position in shares of PNM Resources by 1.9% during the fourth quarter. BlackRock Inc. now owns 9,639,611 shares of the utilities provider’s stock worth $396,091,000 after purchasing an additional 178,580 shares in the last quarter. Dimensional Fund Advisors LP increased its position in PNM Resources by 1.9% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,753,107 shares of the utilities provider’s stock valued at $72,035,000 after acquiring an additional 33,289 shares during the period. Oregon Public Employees Retirement Fund increased its position in 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 valued at $32,000 after acquiring an additional 1,265,842 shares during the period. Millennium Management LLC boosted its holdings in PNM Resources by 212.4% in the 4th quarter. Millennium Management LLC now owns 947,749 shares of the utilities provider’s stock valued at $38,943,000 after purchasing an additional 644,357 shares in the last quarter. Finally, Geode Capital Management LLC boosted its holdings in PNM Resources by 10.3% in the 4th quarter. Geode Capital Management LLC now owns 872,225 shares of the utilities provider’s stock valued at $35,839,000 after purchasing an additional 81,603 shares in the last quarter. Hedge funds and other institutional investors own 90.15% of the company’s stock.
NYSE:PNM traded down $0.02 on Monday, reaching $50.89. The stock had a trading volume of 248,100 shares, compared to its average volume of 407,356. The company has a market cap of $4.06 billion, a PE ratio of 25.45, a P/E/G ratio of 4.51 and a beta of 0.29. PNM Resources Inc has a 12-month low of $37.17 and a 12-month high of $52.10. The stock’s 50-day moving average price is $49.15. The company has a current ratio of 0.69, a quick ratio of 0.59 and a debt-to-equity ratio of 1.66.
A number of equities research analysts have weighed in on PNM shares. Barclays set a $47.00 price objective on PNM Resources and gave the company a “sell” rating in a report on Friday, May 17th. Mizuho raised PNM Resources from an “underperform” rating to a “neutral” rating and upped their target price for the company from $42.50 to $43.50 in a research note on Friday, March 8th. UBS Group upgraded PNM Resources from a “sell” rating to a “neutral” rating and set a $49.15 price target for the company in a report on Wednesday, June 12th. Williams Capital reiterated a “sell” rating on shares of PNM Resources in a report on Monday, March 18th. Finally, Bank of America upgraded PNM Resources from an “underperform” rating to a “neutral” rating and set a $48.00 price target for the company in a report on Thursday, April 25th. Two analysts have rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company. The company has an average rating of “Hold” and an average target price of $48.28.
PNM Resources Profile
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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