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

PNM Resources, Inc. (NYSE:PNM - Get Free Report) announced a quarterly dividend on Friday, March 1st, Zacks reports. Stockholders 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 dividend on an annualized basis and a dividend yield of 4.27%. The ex-dividend date 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 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. 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 traded down $0.40 during mid-day trading on Tuesday, hitting $36.29. 454,272 shares of the stock were exchanged, compared to its average volume of 1,415,953. The stock has a market capitalization of $3.27 billion, a price-to-earnings ratio of 35.63, a price-to-earnings-growth ratio of 10.12 and a beta of 0.35. The firm's 50-day simple moving average is $37.11 and its 200 day simple moving average is $39.58. The company has a debt-to-equity ratio of 1.77, a quick ratio of 0.31 and a current ratio of 0.39. PNM Resources has a fifty-two week low of $34.63 and a fifty-two week high of $48.92.

PNM Resources (NYSE:PNM - Get Free Report) last released its quarterly 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 business had revenue of $412.11 million during 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 last year, the firm posted $0.15 EPS. As a group, equities analysts anticipate that PNM Resources will post 2.7 EPS for the current fiscal year.

Analyst Ratings Changes

PNM has been the topic of a number of recent research reports. StockNews.com lowered PNM Resources from a "hold" rating to a "sell" rating in a research note on Wednesday, January 17th. TheStreet lowered PNM Resources from a "b-" rating to a "c+" rating in a research note on Thursday, January 4th. Barclays raised their price objective on PNM Resources from $40.00 to $43.00 and gave the stock an "overweight" rating in a research note on Monday, April 15th. 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. Finally, Wells Fargo & Company upgraded 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 analyst has rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus 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.