Clint Carlson’s Carlson Capital Portfolio: 5 Dividend Stock Picks

3. PNM Resources, Inc. (NYSE:PNM)

Number of Hedge Fund Holders: 37
Dividend Yield as of May 29: 2.93%
Carlson Capital’s Stake Value: $19,573,000

PNM Resources, Inc. (NYSE:PNM) is a New Mexico-based energy and electric services company. In Q1 2022, the company reported earnings above consensus, posting an EPS of $0.50, beating expectations by $0.12. The company generated revenue of $444.12 million versus the estimates of $382 million.

Carlson Capital resumed building its position in PNM Resources, Inc. (NYSE:PNM) during the fourth quarter of 2020, after pulling off its entire stakes in 2011. At the end of Q1 2022, the hedge fund owned a roughly $20 million worth of stake in the company, which represented 1.33% of Clint Carlson’s portfolio.

Along with Carlson Capital, 37 hedge funds in Insider Monkey’s database held stakes in PNM Resources, Inc. (NYSE:PNM) in Q1 2022, up from 32 in the previous quarter. The collective value of these stakes is over $876.4 million.

In February, PNM Resources, Inc. (NYSE:PNM) announced a 6% hike in its quarterly dividend to $0.3475 per share. The stock’s dividend yield, as of May 29, came to be recorded at 2.93%.