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

PNM Resources, Inc. (NYSE:PNMGet Free Report) announced a quarterly dividend on Tuesday, July 16th, investing.com reports. Shareholders of record on Friday, July 26th will be paid a dividend of 0.3875 per share by the utilities provider on Friday, August 9th. This represents a $1.55 annualized dividend and a yield of 3.81%. The ex-dividend date is Friday, July 26th.

PNM Resources has raised its dividend by an average of 6.1% annually 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% meaning its dividend is sufficiently covered by earnings. Equities analysts expect PNM Resources to earn $2.82 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 55.0%.

PNM Resources Price Performance

PNM stock opened at $40.70 on Thursday. The company has a current ratio of 0.37, a quick ratio of 0.27 and a debt-to-equity ratio of 1.81. The firm’s 50-day moving average price is $37.58 and its two-hundred day moving average price is $37.27. The stock has a market capitalization of $3.67 billion, a price-to-earnings ratio of 44.73 and a beta of 0.35. PNM Resources has a 12-month low of $34.63 and a 12-month high of $45.54.

PNM Resources (NYSE:PNMGet Free Report) last released its quarterly earnings data on Tuesday, April 30th. The utilities provider reported $0.41 earnings per share for the quarter, missing the consensus estimate of $0.68 by ($0.27). The business had revenue of $436.90 million during the quarter, compared to analysts’ expectations of $531.00 million. PNM Resources had a return on equity of 9.91% and a net margin of 4.38%. The company’s quarterly revenue was down 19.7% compared to the same quarter last year. During the same quarter last year, the business posted $0.55 EPS. As a group, equities analysts predict that PNM Resources will post 2.7 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the company. StockNews.com downgraded PNM Resources from a “hold” rating to a “sell” rating in a report on Wednesday, July 3rd. Evercore ISI initiated coverage on PNM Resources in a research note on Thursday, May 30th. They issued an “in-line” rating and a $38.00 price target on the stock. Finally, Barclays raised their price objective on PNM Resources from $43.00 to $45.00 and gave the company an “overweight” rating in a research report on Monday. One research analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $43.80.

Check Out Our Latest Analysis on PNM

PNM Resources Company Profile

(Get Free Report)

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.

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Dividend History for PNM Resources (NYSE:PNM)

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