At Bancorp Lowers stake in PNM Resources Inc (PNM)

PNM Resources Inc (PNM) : At Bancorp reduced its stake in PNM Resources Inc by 0.81% during the most recent quarter end. The investment management company now holds a total of 128,081 shares of PNM Resources Inc which is valued at $4,097,311 after selling 1,044 shares in PNM Resources Inc , the firm said in a disclosure report filed with the SEC on Oct 13, 2016.PNM Resources Inc makes up approximately 0.57% of At Bancorp’s portfolio.

Other Hedge Funds, Including , Dalton Greiner Hartman Maher Co reduced its stake in PNM by selling 2,804 shares or 21.14% in the most recent quarter. The Hedge Fund company now holds 10,459 shares of PNM which is valued at $334,583. PNM Resources Inc makes up approx 0.02% of Dalton Greiner Hartman Maher Co’s portfolio.Legal General Group Plc boosted its stake in PNM in the latest quarter, The investment management firm added 14,429 additional shares and now holds a total of 251,598 shares of PNM Resources Inc which is valued at $7,857,406. PNM Resources Inc makes up approx 0.01% of Legal General Group Plc’s portfolio.Capstone Asset Management Co boosted its stake in PNM in the latest quarter, The investment management firm added 80 additional shares and now holds a total of 6,716 shares of PNM Resources Inc which is valued at $209,741. PNM Resources Inc makes up approx 0.01% of Capstone Asset Management Co’s portfolio.Oregon Public Employees Retirement Fund boosted its stake in PNM in the latest quarter, The investment management firm added 849 additional shares and now holds a total of 27,458 shares of PNM Resources Inc which is valued at $870,968. PNM Resources Inc makes up approx 0.02% of Oregon Public Employees Retirement Fund’s portfolio.

PNM Resources Inc closed down -0.49 points or -1.54% at $31.23 with 3,64,738 shares getting traded on Tuesday. Post opening the session at $31.68, the shares hit an intraday low of $31.02 and an intraday high of $31.68 and the price fluctuated in this range throughout the day.Shares ended Tuesday session in Red.

On the company’s financial health, PNM Resources Inc reported $0.40 EPS for the quarter, beating the analyst consensus estimate by $ 0.01 according to the earnings call on Aug 8, 2016. Analyst had a consensus of $0.39. The company had revenue of $315.39 million for the quarter.The company’s revenue was down -10.6 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.44 EPS.

Investors should note that on Sep 20, 2016, PNM Resources Inc announced a cash dividend of $0.2200. The company’s management has announced Oct 27, 2016 as the ex-dividend date and fixed the record date on Oct 31, 2016. The payable date has been fixed on Nov 14, 2016.

Many Wall Street Analysts have commented on PNM Resources Inc. Williams Capital Group Upgraded PNM Resources Inc on Oct 4, 2016 to ” Buy”, Price Target of the shares are set at $35.PNM Resources Inc was Upgraded by Jefferies to ” Buy” on Sep 20, 2016.

PNM Resources Inc. (PNMR) is an investor-owned holding company of energy and energy-related businesses. The Company’s business segments include PNM TNMP and Corporate and Other. PNM is an electric utility that provides electric generation transmission and distribution service to its rate-regulated customers. TNMP is an electric utility providing regulated transmission and distribution services in Texas under the provisions of Texas Electric Choice Act (TECA) and the Texas Public Utility Regulatory Act. The Corporate and Other segment includes PNMR holding company activities primarily related to corporate level debt and PNMR Services Company. The Company’s primary subsidiaries include Public Service Company of New Mexico (PNM) and Texas-New Mexico Power Company (TNMP).

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