86,774 Shares in PNM Resources Inc (PNM) Acquired by MetLife Investment Advisors LLC

MetLife Investment Advisors LLC bought a new position in PNM Resources Inc (NYSE:PNM) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 86,774 shares of the utilities provider’s stock, valued at approximately $3,510,000. MetLife Investment Advisors LLC owned 0.11% of PNM Resources at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently made changes to their positions in the business. BlackRock Inc. boosted its holdings in shares of PNM Resources by 6.1% in the fourth quarter. BlackRock Inc. now owns 8,926,954 shares of the utilities provider’s stock worth $361,095,000 after buying an additional 515,725 shares during the period. Renaissance Technologies LLC boosted its holdings in shares of PNM Resources by 21.9% in the fourth quarter. Renaissance Technologies LLC now owns 2,296,300 shares of the utilities provider’s stock worth $92,885,000 after buying an additional 412,100 shares during the period. APG Asset Management N.V. boosted its holdings in shares of PNM Resources by 175.2% in the fourth quarter. APG Asset Management N.V. now owns 1,182,300 shares of the utilities provider’s stock worth $39,827,000 after buying an additional 752,700 shares during the period. Geode Capital Management LLC boosted its holdings in shares of PNM Resources by 6.9% in the fourth quarter. Geode Capital Management LLC now owns 706,326 shares of the utilities provider’s stock worth $28,570,000 after buying an additional 45,841 shares during the period. Finally, Schwab Charles Investment Management Inc. lifted its position in shares of PNM Resources by 1.4% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 587,747 shares of the utilities provider’s stock worth $23,775,000 after purchasing an additional 8,235 shares in the last quarter. Institutional investors own 91.79% of the company’s stock.

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In related news, CFO Charles N. Eldred sold 1,500 shares of the firm’s stock in a transaction that occurred on Friday, March 2nd. The shares were sold at an average price of $35.55, for a total transaction of $53,325.00. Following the transaction, the chief financial officer now owns 115,888 shares of the company’s stock, valued at $4,119,818.40. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP Ronald N. Darnell sold 3,162 shares of the firm’s stock in a transaction that occurred on Monday, March 5th. The shares were sold at an average price of $35.95, for a total transaction of $113,673.90. Following the transaction, the senior vice president now directly owns 29,726 shares in the company, valued at approximately $1,068,649.70. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 7,616 shares of company stock worth $272,457. Insiders own 1.26% of the company’s stock.

PNM has been the subject of a number of research analyst reports. Zacks Investment Research lowered shares of PNM Resources from a “buy” rating to a “hold” rating in a research report on Tuesday, December 26th. Mizuho raised shares of PNM Resources from an “underperform” rating to a “neutral” rating and set a $37.00 price target for the company in a research report on Tuesday, January 23rd. SunTrust Banks set a $38.00 price target on shares of PNM Resources and gave the stock a “hold” rating in a research report on Wednesday, January 3rd. Finally, Wells Fargo set a $38.00 price target on shares of PNM Resources and gave the stock a “hold” rating in a research report on Wednesday, February 28th. Four analysts have rated the stock with a sell rating, eight have issued a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. PNM Resources currently has an average rating of “Hold” and a consensus price target of $38.66.

Shares of NYSE:PNM opened at $38.25 on Friday. The company has a market cap of $3,046.75, a P/E ratio of 19.72, a price-to-earnings-growth ratio of 3.82 and a beta of 0.34. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.27 and a current ratio of 0.35. PNM Resources Inc has a twelve month low of $33.75 and a twelve month high of $46.00.

PNM Resources (NYSE:PNM) last issued its quarterly earnings data on Tuesday, February 27th. The utilities provider reported $0.24 earnings per share for the quarter, beating the consensus estimate of $0.19 by $0.05. The firm had revenue of $332.61 million for the quarter, compared to analyst estimates of $330.25 million. PNM Resources had a net margin of 5.55% and a return on equity of 8.71%. During the same quarter last year, the firm earned $0.34 earnings per share. analysts predict that PNM Resources Inc will post 1.87 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 16th. Investors of record on Wednesday, May 2nd will be given a dividend of $0.265 per share. This represents a $1.06 annualized dividend and a yield of 2.77%. The ex-dividend date is Tuesday, May 1st. PNM Resources’s payout ratio is presently 54.64%.

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

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