I retrieved all of the below stock market closing price information from the excellent Big Charts.com website.
PNM Resources stock market price increased by a truly incredible 104% since President Obama took office on January 20, 2009.
And this off-the-charts 104% stock market price increase during the Obama Administration is understated in real terms since it does not include the huge amount of cash dividends PNM Resources common stock investors have received in the past 15 quarters of the Obama Administration.
Investors buy Utility Stocks mainly for the robust cash dividends they receive, not for longer-term stock price appreciation.
And yeah, the Obama Administration did play a key role in this very robust PNM Resources stock price increase.
With its wise actions to fix the broken US financial system, the Obama Administration substantially reduced the elevated risk which was in Utility Stocks after the 2008 financial collapse. These actions resulted in increasing the stock prices of Utility Stocks.
Further, with the Obama Administration working closely with the Fed, interest rates were substantially reduced, thereby significantly benefiting Utility Corps, which have a very heavy debt load due to their substantial investments in Property, Plant and Equipment. Thus, Utility Corps are now able to borrow at much cheaper interest rates.
All PNM Resources executives, all of their employees, their Boards of Directors, and their stockholders have to all be very happy with the stock market performance of PNM Resources during the Obama Administration.
And these same New Mexico citizens also must be very pleased with how the Obama Administration worked so hard and very effectively on so many fronts to fix the clearly broken US financial system and to also create a US economic environment that permitted companies to flat out flourish. This highly successful effort created a robust US economic environment which was quite a change from what existed in the just horrible financial meltdown, near Depression year of 2008.
Below here is the common stock market closing price of PNM Resources on both Tuesday, October 23, 2012, and also on the date just before President Obama took office, as well as the percentage stock market price changes for this period of time.
|New Mexico Utility Corp|