PNM Resources, Inc. (NYSE:PNM) Declares 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 paid a dividend of 0.387 per share by the utilities provider on Friday, May 10th. This represents a $1.55 dividend on an annualized basis and a yield of 4.26%. The ex-dividend date of this dividend is Thursday, April 25th.

PNM Resources has raised 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 dividend payout ratio of 55.2% indicating that its dividend is sufficiently covered by earnings. 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 Down 1.1 %

PNM opened at $36.30 on Wednesday. The business has a 50 day moving average price of $37.11 and a 200 day moving average price of $39.52. PNM Resources has a twelve month low of $34.63 and a twelve month high of $48.92. The company has a debt-to-equity ratio of 1.77, a quick ratio of 0.31 and a current ratio of 0.39. The firm has a market cap of $3.27 billion, a P/E ratio of 35.24, a price-to-earnings-growth ratio of 10.14 and a beta of 0.35.

PNM Resources (NYSE:PNM) last posted 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. The firm had revenue of $412.11 million during the quarter, compared to analyst estimates 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 previous year, the company earned $0.15 EPS. Research analysts forecast that PNM Resources will post 2.7 EPS for the current year.

Wall Street Analysts Forecast Growth

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