PNM Resources Inc (PNM) To Go Ex-Dividend on January 31st

PNM Resources Inc (NYSE:PNM) announced a quarterly dividend on Tuesday, December 10th, Wall Street Journal reports. Investors of record on Monday, February 3rd will be paid a dividend of 0.3075 per share by the utilities provider on Friday, February 14th. This represents a $1.23 dividend on an annualized basis and a dividend yield of 2.50%. The ex-dividend date of this dividend is Friday, January 31st. This is an increase from PNM Resources’s previous quarterly dividend of $0.29.

Shares of NYSE:PNM opened at $49.28 on Thursday. The company has a quick ratio of 0.28, a current ratio of 0.36 and a debt-to-equity ratio of 1.48. PNM Resources has a fifty-two week low of $39.51 and a fifty-two week high of $52.98. The firm has a 50-day simple moving average of $49.35 and a 200 day simple moving average of $50.18. The company has a market cap of $3.88 billion, a PE ratio of 24.76, a P/E/G ratio of 4.16 and a beta of 0.15.

PNM Resources (NYSE:PNM) last announced its quarterly earnings data on Friday, November 1st. The utilities provider reported $1.29 earnings per share for the quarter, beating analysts’ consensus estimates of $1.25 by $0.04. PNM Resources had a negative net margin of 0.64% and a positive return on equity of 9.18%. The business had revenue of $433.59 million during the quarter, compared to the consensus estimate of $562.33 million. During the same quarter in the prior year, the firm earned $1.08 EPS. As a group, research analysts forecast that PNM Resources will post 2.1 EPS for the current fiscal year.

A number of equities research analysts recently weighed in on the stock. Bank of America raised shares of PNM Resources from a “neutral” rating to a “buy” rating and set a $56.00 price objective for the company in a research report on Monday, September 30th. SunTrust Banks boosted their price objective on shares of PNM Resources from $49.00 to $50.00 and gave the company a “hold” rating in a research report on Monday, September 30th. ValuEngine raised shares of PNM Resources from a “sell” rating to a “hold” rating in a research report on Tuesday, December 3rd. Barclays raised shares of PNM Resources from an “underweight” rating to an “equal weight” rating and reduced their target price for the company from $52.00 to $51.00 in a research note on Thursday, November 21st. Finally, UBS Group boosted their target price on shares of PNM Resources from $50.00 to $53.00 and gave the company a “neutral” rating in a research note on Friday, September 6th. Two analysts have rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $52.14.

About PNM Resources

PNM Resources, Inc, through its subsidiaries, engages in the energy and energy-related businesses 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 is primarily involved in the generation, transmission, and distribution of electricity.

Read More: Why Invest in High-Yield Dividend Stocks?

Dividend History for PNM Resources (NYSE:PNM)

Receive News & Ratings for PNM Resources Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PNM Resources and related companies with MarketBeat.com's FREE daily email newsletter.