TXNM Energy (NYSE:TXNM) Sets New 1-Year High – Should You Buy?

TXNM Energy, Inc. (NYSE:TXNM)’s stock price hit a new 52-week high during mid-day trading on Monday . The company traded as high as $56.50 and last traded at $53.75, with a volume of 431772 shares changing hands. The stock had previously closed at $52.89.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on TXNM. Mizuho raised TXNM Energy from a “neutral” rating to an “outperform” rating and set a $53.00 price objective for the company in a research report on Tuesday, March 11th. Scotiabank lifted their target price on TXNM Energy from $52.00 to $55.00 and gave the company a “sector perform” rating in a research report on Monday, February 24th. Barclays boosted their price objective on TXNM Energy from $56.00 to $57.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 18th. Finally, Evercore ISI raised TXNM Energy from an “in-line” rating to an “outperform” rating and upped their price objective for the stock from $51.00 to $54.00 in a research report on Tuesday, February 11th. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, TXNM Energy presently has a consensus rating of “Moderate Buy” and an average target price of $53.57.

TXNM Energy Price Performance

The stock has a market capitalization of $4.93 billion, a price-to-earnings ratio of 27.71, a PEG ratio of 6.12 and a beta of 0.11. The company has a debt-to-equity ratio of 1.80, a current ratio of 0.36 and a quick ratio of 0.27. The stock’s 50 day simple moving average is $52.52 and its 200-day simple moving average is $49.72.

TXNM Energy (NYSE:TXNM) last released its quarterly earnings data on Friday, May 9th. The company reported $0.19 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.20 by ($0.01). TXNM Energy had a return on equity of 9.69% and a net margin of 9.26%. The company had revenue of $482.79 million for the quarter, compared to analyst estimates of $451.01 million. The company’s quarterly revenue was up 10.5% compared to the same quarter last year. On average, analysts expect that TXNM Energy, Inc. will post 2.73 EPS for the current fiscal year.

TXNM Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 16th. Stockholders of record on Friday, April 25th will be given a $0.4075 dividend. This represents a $1.63 annualized dividend and a dividend yield of 3.06%. The ex-dividend date of this dividend is Friday, April 25th. TXNM Energy’s payout ratio is presently 72.44%.

Institutional Investors Weigh In On TXNM Energy

Several institutional investors and hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. acquired a new stake in TXNM Energy during the 4th quarter valued at approximately $497,880,000. T. Rowe Price Investment Management Inc. purchased a new stake in TXNM Energy in the 4th quarter valued at $303,744,000. FMR LLC purchased a new position in TXNM Energy during the fourth quarter worth about $191,594,000. Fuller & Thaler Asset Management Inc. purchased a new stake in shares of TXNM Energy during the 4th quarter valued at $189,170,000. Finally, Zimmer Partners LP purchased a new position in TXNM Energy in the fourth quarter valued at about $165,816,000. Institutional investors own 91.68% of the company’s stock.

TXNM Energy Company Profile

TXNM Energy, 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.