PNM Resources Inc (NYSE:PNM) declared a quarterly dividend on Friday, December 7th, RTT News reports. Investors of record on Friday, February 1st will be given a dividend of 0.29 per share by the utilities provider on Friday, February 15th. This represents a $1.16 annualized dividend and a yield of 2.65%. This is an increase from PNM Resources’s previous quarterly dividend of $0.27.

PNM Resources has increased its dividend payment by an average of 9.4% annually over the last three years and has raised its dividend annually for the last 6 consecutive years. PNM Resources has a dividend payout ratio of 54.6% meaning its dividend is sufficiently covered by earnings. Research analysts expect PNM Resources to earn $2.13 per share next year, which means the company should continue to be able to cover its $1.06 annual dividend with an expected future payout ratio of 49.8%.

NYSE:PNM opened at $43.75 on Friday. PNM Resources has a 12-month low of $33.75 and a 12-month high of $45.45. The company has a debt-to-equity ratio of 1.17, a current ratio of 0.37 and a quick ratio of 0.29. The stock has a market capitalization of $3.42 billion, a P/E ratio of 22.55, a price-to-earnings-growth ratio of 4.64 and a beta of 0.20.

PNM Resources (NYSE:PNM) last posted its quarterly earnings results on Tuesday, November 6th. The utilities provider reported $1.08 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.04 by $0.04. PNM Resources had a net margin of 6.08% and a return on equity of 9.25%. The firm had revenue of $422.67 million during the quarter, compared to analyst estimates of $483.08 million. During the same quarter in the prior year, the business posted $0.93 earnings per share. Equities analysts predict that PNM Resources will post 1.97 EPS for the current fiscal year.

Several research analysts recently issued reports on PNM shares. Zacks Investment Research lowered shares of PNM Resources from a “buy” rating to a “hold” rating in a research report on Saturday, October 6th. Bank of America dropped their price target on shares of PNM Resources from $38.00 to $36.00 and set an “underperform” rating for the company in a research report on Tuesday, October 16th. Finally, Barclays increased their price target on shares of PNM Resources from $38.00 to $39.00 and gave the stock a “sell” rating in a research report on Monday, November 19th. Three analysts have rated the stock with a sell rating and six have assigned a hold rating to the company. The stock has an average rating of “Hold” and a consensus target price of $39.25.

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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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Dividend History for PNM Resources (NYSE:PNM)

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