The Best Stock in New Mexico: PNM Resources
We analyzed publicly traded companies based in the Land of Enchantment to identify the best stock in New Mexico to buy now.


We scoured the nation to identify the best stock in every state. PNM Resources (symbol PNM) is the publicly traded company we picked in New Mexico. The company headquarters is located in Albuquerque.
PNM Resources is the holding company for two New Mexican electric utilities: Public Service of New Mexico and Texas-New Mexico Power Company.
Earnings were flat and revenues declined for PNM in 2016, but things are looking up. Public Service of New Mexico recently received approval from regulators to raise its rates, which will drive earnings growth for PNM, says Value Line analyst Nils Van Liew. He projects a 12% increase in earnings for the company overall this year, followed by 8% growth in 2018. Concerns remain over sluggish growth in PNM’s customer base, but Van Liew says there are signs that New Mexico’s economy may be picking up, with big corporations such as Facebook and Lowe’s expanding operations there, potentially bringing new customers for PNM. Patient investors can collect a well-covered dividend while waiting for business to expand. The stock currently yields 2.4%.

Sign up for Kiplinger’s Free E-Newsletters
Profit and prosper with the best of expert advice on investing, taxes, retirement, personal finance and more - straight to your e-mail.
Profit and prosper with the best of expert advice - straight to your e-mail.
Get Kiplinger Today newsletter — free
Profit and prosper with the best of Kiplinger's advice on investing, taxes, retirement, personal finance and much more. Delivered daily. Enter your email in the box and click Sign Me Up.

Ryan joined Kiplinger in the fall of 2013. He wrote and fact-checked stories that appeared in Kiplinger's Personal Finance magazine and on Kiplinger.com. He previously interned for the CBS Evening News investigative team and worked as a copy editor and features columnist at the GW Hatchet. He holds a BA in English and creative writing from George Washington University.
-
5 Easy Weatherproofing Projects That Help Prevent Damage and Save on Insurance
Protect your home from storms and water damage with these simple weatherproofing upgrades — some may help reduce your home insurance premium.
By Paige Cerulli
-
If Trump Fires Jerome Powell, What Happens To Savings and Mortgage Rates?
President Donald Trump expressed his desire to remove Fed Chair Jerome Powell. If the president is successful, how would it impact your savings accounts?
By Sean Jackson
-
What Is the Buffett Indicator?
"It is better to be roughly right than precisely wrong," writes Carveth Read in "Logic: Deductive and Inductive." That's the premise of the Buffett Indicator.
By Charles Lewis Sizemore, CFA
-
Why Is Warren Buffett Selling So Much Stock?
Berkshire Hathaway is dumping equities, hoarding cash and making market participants nervous.
By Dan Burrows
-
If You'd Put $1,000 Into Google Stock 20 Years Ago, Here's What You'd Have Today
Google parent Alphabet has been a market-beating machine for ages.
By Dan Burrows
-
Bank of America Stock Falls As Warren Buffett Keeps Selling
Bank of America stock is lower Wednesday on news Warren Buffett's Berkshire Hathaway sold another chunk of its stake in the bank. Here's what you need to know.
By Joey Solitro
-
Stock Market Today: Stocks Retreat Ahead of Nvidia Earnings
Markets lost ground on light volume Wednesday as traders keyed on AI bellwether Nvidia earnings after the close.
By Dan Burrows
-
Stock Market Today: Stocks Edge Higher With Nvidia Earnings in Focus
Nvidia stock gained ground ahead of tomorrow's after-the-close earnings event, while Super Micro Computer got hit by a short seller report.
By Karee Venema
-
Stock Market Today: Dow Hits New Record Closing High
The Nasdaq Composite and S&P 500 finished in the red as semiconductor stocks struggled.
By Karee Venema
-
Stock Market Today: Stocks Pop After Powell's Jackson Hole Speech
Fed Chair Powell's Jackson Hole speech struck a dovish tone which sent stocks soaring Friday.
By Karee Venema