PNM Resources, Inc. (PNM) to Issue Quarterly Dividend of $0.39 on May 10th

PNM Resources, Inc. (NYSE:PNM) declared 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 payment by an average of 6.1% annually over the last three years and has increased its dividend every year for the last 13 years. PNM Resources has a payout ratio of 55.2% indicating that its dividend is sufficiently covered by earnings. Equities research 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 Stock Performance

NYSE PNM opened at $36.70 on Tuesday. The company has a debt-to-equity ratio of 1.77, a current ratio of 0.39 and a quick ratio of 0.31. The company has a market cap of $3.31 billion, a P/E ratio of 35.63, a P/E/G ratio of 10.12 and a beta of 0.35. The stock has a 50-day moving average of $37.11 and a two-hundred day moving average of $39.58. PNM Resources has a 1-year low of $34.63 and a 1-year high of $48.92.

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

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on PNM shares. Mizuho lowered PNM Resources from a “buy” rating to a “neutral” rating and set a $41.00 price objective on the stock. in a research report on Wednesday, January 3rd. Barclays increased their price target on PNM Resources from $40.00 to $43.00 and gave the company an “overweight” rating in a research report on Monday, April 15th. TheStreet downgraded PNM Resources from a “b-” rating to a “c+” rating in a research report on Thursday, January 4th. Wells Fargo & Company raised shares of PNM Resources from an “equal weight” rating to an “overweight” rating and set a $44.00 target price on the stock in a report on Wednesday, January 3rd. Finally, StockNews.com cut shares of PNM Resources from a “hold” rating to a “sell” rating in a report on Wednesday, January 17th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target 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.