ProShare Advisors LLC Buys 24,642 Shares of PNM Resources, Inc. (NYSE:PNM)

ProShare Advisors LLC increased its position in PNM Resources, Inc. (NYSE:PNM) by 12.5% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 221,423 shares of the utilities provider’s stock after acquiring an additional 24,642 shares during the quarter. ProShare Advisors LLC owned about 0.25% of PNM Resources worth $8,334,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Deutsche Bank AG increased its position in shares of PNM Resources by 1.8% in the third quarter. Deutsche Bank AG now owns 288,932 shares of the utilities provider’s stock worth $12,889,000 after purchasing an additional 5,205 shares during the last quarter. Teachers Retirement System of The State of Kentucky lifted its holdings in shares of PNM Resources by 93.1% during the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 29,319 shares of the utilities provider’s stock worth $1,307,000 after acquiring an additional 14,132 shares during the last quarter. Vanguard Group Inc. grew its position in PNM Resources by 0.4% in the third quarter. Vanguard Group Inc. now owns 9,379,034 shares of the utilities provider’s stock worth $418,399,000 after acquiring an additional 40,253 shares in the last quarter. SG Americas Securities LLC raised its position in PNM Resources by 61.4% during the fourth quarter. SG Americas Securities LLC now owns 66,495 shares of the utilities provider’s stock valued at $2,766,000 after purchasing an additional 25,302 shares in the last quarter. Finally, Raymond James & Associates boosted its holdings in shares of PNM Resources by 226.7% in the 4th quarter. Raymond James & Associates now owns 71,592 shares of the utilities provider’s stock worth $2,978,000 after purchasing an additional 49,679 shares in the last quarter. Institutional investors own 91.68% of the company’s stock.

PNM Resources Stock Performance

Shares of NYSE PNM traded up $0.91 during trading on Wednesday, reaching $39.92. 974,858 shares of the company traded hands, compared to its average volume of 1,098,039. The firm has a 50 day simple moving average of $37.33 and a 200-day simple moving average of $37.23. PNM Resources, Inc. has a 52-week low of $34.63 and a 52-week high of $45.86. The stock has a market capitalization of $3.60 billion, a PE ratio of 42.87 and a beta of 0.35. The company has a quick ratio of 0.27, a current ratio of 0.37 and a debt-to-equity ratio of 1.81.

PNM Resources (NYSE:PNM) last issued its earnings results on Tuesday, April 30th. The utilities provider reported $0.41 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.68 by ($0.27). The company had revenue of $436.90 million during the quarter, compared to analysts’ expectations of $531.00 million. PNM Resources had a return on equity of 9.91% and a net margin of 4.38%. The company’s revenue for the quarter was down 19.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.55 EPS. Equities research analysts anticipate that PNM Resources, Inc. will post 2.7 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the stock. StockNews.com cut shares of PNM Resources from a “hold” rating to a “sell” rating in a research report on Wednesday, July 3rd. Barclays raised their price objective on PNM Resources from $40.00 to $43.00 and gave the company an “overweight” rating in a research note on Monday, April 15th. Finally, Evercore ISI began coverage on PNM Resources in a research note on Thursday, May 30th. They issued an “in-line” rating and a $38.00 target price for the company. One research analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $43.40.

About PNM Resources

PNM Resources, Inc, through its subsidiaries, provides electricity and electric services 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 engages in the generation, transmission, and distribution of electricity.