Lynch Associatesin Lowers stake in PNM Resources Inc (PNM)

PNM Resources Inc (PNM) : Lynch Associatesin reduced its stake in PNM Resources Inc by 0.41% during the most recent quarter end. The investment management company now holds a total of 7,305 shares of PNM Resources Inc which is valued at $229,742 after selling 30 shares in PNM Resources Inc , the firm said in a disclosure report filed with the SEC on Oct 4, 2016.PNM Resources Inc makes up approximately 0.10% of Lynch Associatesin’s portfolio.

PNM Resources Inc closed down -0.68 points or -2.11% at $31.6 with 6,26,814 shares getting traded on Tuesday. Post opening the session at $32.88, the shares hit an intraday low of $31.28 and an intraday high of $32.88 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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