PNM Resources, Inc. (NYSE:PNM – Get Free Report) declared 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 annualized dividend and a dividend yield of 4.22%. The ex-dividend date of this dividend 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 increased its dividend annually for the last 13 consecutive years. PNM Resources has a dividend payout ratio of 55.2% meaning its dividend is sufficiently covered by earnings. Equities 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 %
PNM opened at $36.70 on Tuesday. The stock has a market cap of $3.31 billion, a PE ratio of 35.63, a P/E/G 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 has a 52 week low of $34.63 and a 52 week high of $48.92. The business’s fifty day simple moving average is $37.11 and its 200 day simple moving average is $39.58.
Wall Street Analysts Forecast Growth
A number of brokerages have recently issued reports on PNM. TheStreet cut PNM Resources from a “b-” rating to a “c+” rating in a research note on Thursday, January 4th. Mizuho cut PNM Resources from a “buy” rating to a “neutral” rating and set a $41.00 price objective on the stock. in a research note on Wednesday, January 3rd. Barclays raised their price objective on PNM Resources from $40.00 to $43.00 and gave the company an “overweight” rating in a research note on Monday, April 15th. StockNews.com cut PNM Resources from a “hold” rating to a “sell” rating in a research note on Wednesday, January 17th. Finally, Wells Fargo & Company raised PNM Resources from an “equal weight” rating to an “overweight” rating and set a $44.00 price objective on the stock in a research note on Wednesday, January 3rd. One analyst has rated the stock with a sell rating, two have given a hold rating and three have given 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.
Read Our Latest Stock Report on PNM
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.
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