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 increased 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. 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 %
Shares of NYSE PNM opened at $36.70 on Tuesday. The stock has a market cap of $3.31 billion, a P/E ratio of 35.63, a PEG ratio of 10.12 and a beta of 0.35. The company has a current ratio of 0.39, a quick ratio of 0.31 and a debt-to-equity ratio of 1.77. PNM Resources has a 12-month low of $34.63 and a 12-month 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 Analyst Weigh In
A number of research firms have recently commented on PNM. TheStreet cut PNM Resources from a “b-” rating to a “c+” rating in a research report on Thursday, January 4th. Barclays lifted their target price on PNM Resources from $40.00 to $43.00 and gave the stock an “overweight” rating in a research report on Monday, April 15th. StockNews.com lowered PNM Resources from a “hold” rating to a “sell” rating in a report on Wednesday, January 17th. Wells Fargo & Company raised PNM Resources from an “equal weight” rating to an “overweight” rating and set a $44.00 price target on the stock in a report on Wednesday, January 3rd. Finally, Mizuho lowered PNM Resources from a “buy” rating to a “neutral” rating and set a $41.00 price target on the stock. in a report on Wednesday, January 3rd. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $46.80.
Check Out Our Latest Research 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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