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

PNM Resources, Inc. (NYSE:PNM) announced a quarterly dividend on Friday, March 1st, Zacks reports. Shareholders 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 yield of 4.22%. The ex-dividend date of this dividend is Thursday, April 25th.

PNM Resources has increased 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% meaning its dividend is sufficiently covered by earnings. Equities 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 firm has a market capitalization of $3.31 billion, a PE ratio of 35.63, a price-to-earnings-growth ratio of 10.12 and a beta of 0.35. The company has a quick ratio of 0.31, a current ratio of 0.39 and a debt-to-equity ratio of 1.77. PNM Resources has a 12-month low of $34.63 and a 12-month high of $48.92. The firm has a 50-day moving average price of $37.11 and a 200 day moving average price of $39.58.

PNM Resources (NYSE:PNM) last announced its quarterly earnings results 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. The firm had revenue of $412.11 million for the quarter, compared to analysts’ expectations 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 in the prior year, the business posted $0.15 earnings per share. Research analysts anticipate that PNM Resources will post 2.7 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on PNM. Barclays boosted their target price on PNM Resources from $40.00 to $43.00 and gave the stock an “overweight” rating in a report on Monday, April 15th. 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. Wells Fargo & Company upgraded 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 research report on Wednesday, January 3rd. StockNews.com downgraded shares of PNM Resources from a “hold” rating to a “sell” rating in a research note on Wednesday, January 17th. Finally, TheStreet cut shares of PNM Resources from a “b-” rating to a “c+” rating in a research note on Thursday, January 4th. One research analyst has rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average 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.