PNM Resources, Inc. (NYSE:PNM) to Issue $0.39 Quarterly Dividend

PNM Resources, Inc. (NYSE:PNM) declared a quarterly dividend on Friday, March 1st, Zacks reports. Stockholders 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 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 raised 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. 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 business has a 50 day moving average of $37.11 and a 200 day moving average of $39.58. The company 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 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 released its earnings results on Tuesday, February 6th. The utilities provider reported $0.18 earnings per share for the quarter, topping analysts’ consensus estimates of $0.14 by $0.04. The company had revenue of $412.11 million during the quarter, compared to the consensus estimate of $705.05 million. PNM Resources had a return on equity of 10.51% and a net margin of 4.54%. During the same quarter in the previous year, the company posted $0.15 EPS. On average, sell-side analysts predict that PNM Resources will post 2.7 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

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