PNM Resources Inc (NYSE:PNM) announced a quarterly dividend on Tuesday, July 28th, Zacks reports. Stockholders of record on Friday, August 7th will be given a dividend of 0.308 per share by the utilities provider on Friday, August 14th. This represents a $1.23 dividend on an annualized basis and a dividend yield of 2.99%. The ex-dividend date is Thursday, August 6th.
PNM Resources has raised its dividend payment by an average of 31.8% per year over the last three years and has increased its dividend annually for the last 8 consecutive years. PNM Resources has a payout ratio of 56.7% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect PNM Resources to earn $2.27 per share next year, which means the company should continue to be able to cover its $1.23 annual dividend with an expected future payout ratio of 54.2%.
NYSE:PNM traded down $0.66 during trading hours on Thursday, hitting $41.18. The company’s stock had a trading volume of 5,153 shares, compared to its average volume of 376,124. The stock has a market capitalization of $3.34 billion, a P/E ratio of 76.26, a price-to-earnings-growth ratio of 3.08 and a beta of 0.56. The stock has a fifty day moving average of $39.32 and a 200-day moving average of $43.56. The company has a current ratio of 0.26, a quick ratio of 0.19 and a debt-to-equity ratio of 1.46. PNM Resources has a 52-week low of $27.08 and a 52-week high of $56.14.
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.
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