PNM Resources Inc (NYSE:PNM) Plans Quarterly Dividend of $0.29

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PNM Resources Inc (NYSE:PNM) declared a quarterly dividend on Tuesday, September 24th, Zacks reports. Shareholders of record on Friday, November 1st will be given a dividend of 0.29 per share by the utilities provider on Friday, November 15th. This represents a $1.16 dividend on an annualized basis and a yield of 2.29%. The ex-dividend date is Thursday, October 31st.

PNM stock traded down $0.07 during midday trading on Tuesday, reaching $50.58. 23,723 shares of the company were exchanged, compared to its average volume of 310,557. The company has a debt-to-equity ratio of 1.67, a current ratio of 0.45 and a quick ratio of 0.34. The business has a 50-day moving average price of $51.40 and a two-hundred day moving average price of $49.61. PNM Resources has a one year low of $37.67 and a one year high of $52.98. The firm has a market capitalization of $4.03 billion, a price-to-earnings ratio of 25.33, a price-to-earnings-growth ratio of 4.47 and a beta of 0.21.

PNM Resources (NYSE:PNM) last released its quarterly earnings data on Friday, August 2nd. The utilities provider reported $0.37 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.37. PNM Resources had a negative net margin of 1.69% and a positive return on equity of 8.08%. The firm had revenue of $330.23 million during the quarter. As a group, analysts anticipate that PNM Resources will post 2.09 earnings per share for the current fiscal year.

A number of equities research analysts have recently issued reports on PNM shares. SunTrust Banks boosted their target price on shares of PNM Resources from $49.00 to $50.00 and gave the company a “hold” rating in a research report on Monday, September 30th. Zacks Investment Research cut shares of PNM Resources from a “hold” rating to a “sell” rating in a research report on Wednesday, July 31st. ValuEngine cut shares of PNM Resources from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. Wells Fargo & Co set a $52.00 target price on shares of PNM Resources and gave the company a “hold” rating in a research report on Monday, July 15th. Finally, Bank of America raised shares of PNM Resources from a “neutral” rating to a “buy” rating and set a $56.00 target price for the company in a research report on Monday, September 30th. Three investment analysts have rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $51.86.

About PNM Resources

PNM Resources, Inc, through its subsidiaries, engages in the energy and energy-related businesses 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 is primarily involved in the generation, transmission, and distribution of electricity.

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Dividend History for PNM Resources (NYSE:PNM)

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