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

PNM Resources, Inc. (NYSE:PNM) declared a quarterly dividend on Friday, March 1st, Zacks reports. Investors of record on Friday, April 26th will be paid 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 payment by an average of 6.1% per year over the last three years and has raised 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. 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 Up 0.2 %

Shares of PNM opened at $36.70 on Tuesday. PNM Resources has a fifty-two week low of $34.63 and a fifty-two week high of $48.92. The company’s fifty day moving average is $37.11 and its two-hundred day moving average is $39.58. The firm has a market cap 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 (NYSE:PNM) last issued its earnings results on Tuesday, February 6th. The utilities provider reported $0.18 earnings per share for the quarter, topping the consensus estimate of $0.14 by $0.04. PNM Resources had a return on equity of 10.51% and a net margin of 4.54%. The business had revenue of $412.11 million for the quarter, compared to analyst estimates of $705.05 million. During the same period last year, the company posted $0.15 EPS. Analysts forecast that PNM Resources will post 2.7 earnings per share for the current year.

Wall Street Analysts Forecast Growth

PNM has been the subject of a number of research analyst reports. StockNews.com downgraded shares of PNM Resources from a “hold” rating to a “sell” rating in a research report on Wednesday, January 17th. TheStreet downgraded shares of PNM Resources from a “b-” rating to a “c+” rating in a research note 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 research note on Wednesday, January 3rd. Barclays lifted their target price on shares of PNM Resources from $40.00 to $43.00 and gave the company an “overweight” rating in a report on Monday, April 15th. Finally, Mizuho downgraded PNM Resources from a “buy” rating to a “neutral” rating and set a $41.00 price target for the company. in a report on Wednesday, January 3rd. One research analyst has rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, PNM Resources presently has an average rating of “Hold” and an average price target of $46.80.

About PNM Resources

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.