Federated Investors Inc. PA Lowers Stake in PNM Resources Inc (NYSE:PNM)

Federated Investors Inc. PA lowered its position in PNM Resources Inc (NYSE:PNM) by 13.3% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 352,483 shares of the utilities provider’s stock after selling 54,227 shares during the period. Federated Investors Inc. PA owned approximately 0.44% of PNM Resources worth $16,687,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Oregon Public Employees Retirement Fund increased its holdings in PNM Resources by 4,009.0% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 1,297,417 shares of the utilities provider’s stock valued at $32,000 after buying an additional 1,265,842 shares during the period. Osborn Williams & Donohoe LLC purchased a new position in PNM Resources during the first quarter valued at approximately $69,000. IFP Advisors Inc increased its holdings in PNM Resources by 32.9% during the fourth quarter. IFP Advisors Inc now owns 1,720 shares of the utilities provider’s stock valued at $70,000 after buying an additional 426 shares during the period. Quadrant Capital Group LLC increased its holdings in PNM Resources by 1,004.6% during the first quarter. Quadrant Capital Group LLC now owns 2,176 shares of the utilities provider’s stock valued at $100,000 after buying an additional 1,979 shares during the period. Finally, Meeder Asset Management Inc. purchased a new position in PNM Resources during the first quarter valued at approximately $123,000. 90.15% of the stock is owned by institutional investors and hedge funds.

Several equities analysts recently issued reports on the stock. Barclays reissued a “sell” rating and set a $49.00 price objective on shares of PNM Resources in a report on Wednesday, June 19th. UBS Group raised shares of PNM Resources from a “sell” rating to a “neutral” rating and set a $49.15 price target on the stock in a report on Wednesday, June 12th. Wells Fargo & Co reaffirmed a “hold” rating on shares of PNM Resources in a report on Monday, June 10th. Mizuho raised shares of PNM Resources from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $43.50 to $49.50 in a report on Friday, May 10th. Finally, Bank of America raised shares of PNM Resources from an “underperform” rating to a “neutral” rating and set a $48.00 price target on the stock in a report on Thursday, April 25th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $48.28.

Shares of PNM traded down $0.02 during trading hours on Monday, reaching $50.89. 248,100 shares of the company traded hands, compared to its average volume of 407,356. The company has a market capitalization of $4.06 billion, a PE ratio of 25.45, a P/E/G ratio of 4.51 and a beta of 0.29. The company has a quick ratio of 0.59, a current ratio of 0.69 and a debt-to-equity ratio of 1.66. PNM Resources Inc has a 12-month low of $37.17 and a 12-month high of $52.10. The stock has a fifty day simple moving average of $49.15.

PNM Resources (NYSE:PNM) last posted its earnings results on Tuesday, May 7th. The utilities provider reported $0.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.11 by $0.02. The company had revenue of $349.65 million during the quarter, compared to the consensus estimate of $273.12 million. PNM Resources had a net margin of 6.10% and a return on equity of 8.68%. The firm’s quarterly revenue was up 10.0% on a year-over-year basis. During the same period in the previous year, the firm posted $0.21 earnings per share. On average, analysts anticipate that PNM Resources Inc will post 2.16 EPS for the current fiscal year.

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

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