PNM Resources, Inc. Declares Quarterly Dividend of $0.39 (NYSE:PNM)

PNM Resources, Inc. (NYSE:PNM) announced a quarterly dividend on Friday, March 1st, Zacks reports. Stockholders of record on Friday, April 26th will be given a dividend of 0.387 per share by the utilities provider on Friday, May 10th. This represents a $1.55 annualized dividend and a dividend yield of 4.22%. The ex-dividend date is Thursday, April 25th.

PNM Resources has raised its dividend by an average of 6.1% annually over the last three years and has increased its dividend annually for the last 13 consecutive years. PNM Resources has a payout ratio of 55.2% indicating that its dividend is sufficiently covered by earnings. Analysts expect PNM Resources to earn $2.80 per share next year, which means the company should continue to be able to cover its $1.55 annual dividend with an expected future payout ratio of 55.4%.

PNM Resources Price Performance

NYSE:PNM opened at $36.70 on Tuesday. The firm has a market capitalization of $3.31 billion, a price-to-earnings ratio of 35.63, a PEG ratio of 10.12 and a beta of 0.35. PNM Resources has a 1 year low of $34.63 and a 1 year high of $48.92. The business has a 50 day simple moving average of $37.11 and a 200-day simple moving average of $39.58. The company has a debt-to-equity ratio of 1.77, a current ratio of 0.39 and a quick ratio of 0.31.

PNM Resources (NYSE:PNM) last posted its quarterly earnings data on Tuesday, February 6th. The utilities provider reported $0.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.14 by $0.04. The business had revenue of $412.11 million during the quarter, compared to analyst estimates of $705.05 million. PNM Resources had a return on equity of 10.51% and a net margin of 4.54%. During the same period last year, the company earned $0.15 EPS. Equities analysts forecast that PNM Resources will post 2.7 EPS for the current year.

Wall Street Analyst Weigh In

PNM has been the subject of a number of research analyst reports. Barclays raised their price target on PNM Resources from $40.00 to $43.00 and gave the stock an “overweight” rating in a research note on Monday, April 15th. Mizuho lowered PNM Resources from a “buy” rating to a “neutral” rating and set a $41.00 price target for the company. in a research note on Wednesday, January 3rd. TheStreet lowered PNM Resources from a “b-” rating to a “c+” rating in a research note on Thursday, January 4th. Wells Fargo & Company raised PNM Resources from an “equal weight” rating to an “overweight” rating and set a $44.00 price target for the company in a research note on Wednesday, January 3rd. Finally, StockNews.com lowered PNM Resources from a “hold” rating to a “sell” rating in a research note on Wednesday, January 17th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, PNM Resources currently has an average rating of “Hold” and a consensus target price of $46.80.

PNM Resources Company Profile

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.