6,399 Shares in PNM Resources, Inc. (NYSE:PNM) Bought by First Hawaiian Bank

First Hawaiian Bank acquired a new stake in PNM Resources, Inc. (NYSE:PNM) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 6,399 shares of the utilities provider’s stock, valued at approximately $241,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Fortis Group Advisors LLC lifted its position in PNM Resources by 100.0% during the 4th quarter. Fortis Group Advisors LLC now owns 800 shares of the utilities provider’s stock worth $33,000 after acquiring an additional 400 shares in the last quarter. GAMMA Investing LLC boosted its stake in shares of PNM Resources by 106.4% in the first quarter. GAMMA Investing LLC now owns 834 shares of the utilities provider’s stock valued at $31,000 after purchasing an additional 430 shares during the period. International Assets Investment Management LLC lifted its holdings in PNM Resources by 4,061.5% in the 4th quarter. International Assets Investment Management LLC now owns 1,082 shares of the utilities provider’s stock worth $45,000 after buying an additional 1,056 shares in the last quarter. DGS Capital Management LLC purchased a new position in PNM Resources in the 4th quarter valued at about $235,000. Finally, West Family Investments Inc. acquired a new stake in shares of PNM Resources during the fourth quarter valued at about $283,000. Institutional investors and hedge funds own 91.68% of the company’s stock.

Analyst Ratings Changes

PNM has been the subject of a number of analyst reports. Barclays increased their price target on PNM Resources from $40.00 to $43.00 and gave the company an “overweight” rating in a report on Monday, April 15th. Evercore ISI started coverage on PNM Resources in a research note on Thursday, May 30th. They set an “in-line” rating and a $38.00 target price for the company. Finally, StockNews.com lowered shares of PNM Resources from a “hold” rating to a “sell” rating in a research note on Friday, June 7th. One analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, PNM Resources currently has a consensus rating of “Hold” and a consensus price target of $43.40.

PNM Resources Stock Performance

Shares of PNM opened at $36.26 on Friday. The stock has a market capitalization of $3.27 billion, a PE ratio of 39.85 and a beta of 0.38. The business’s fifty day moving average price is $37.29 and its 200 day moving average price is $37.90. The company has a debt-to-equity ratio of 1.81, a current ratio of 0.37 and a quick ratio of 0.27. PNM Resources, Inc. has a 12-month low of $34.63 and a 12-month high of $45.94.

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

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.