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

TXNM Energy, Inc. (NYSE:TXNM) shares hit a new 52-week high during trading on Monday . The company traded as high as $57.29 and last traded at $56.59, with a volume of 2884236 shares changing hands. The stock had previously closed at $52.88.

Analysts Set New Price Targets

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

TXNM Energy Trading Up 7.4%

The stock’s fifty day moving average price is $52.77 and its 200 day moving average price is $49.97. The company has a quick ratio of 0.27, a current ratio of 0.36 and a debt-to-equity ratio of 1.80. The stock has a market cap of $5.26 billion, a PE ratio of 29.56, a PEG ratio of 6.12 and a beta of 0.11.

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

TXNM Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 16th. Stockholders of record on Friday, April 25th were given a dividend of $0.4075 per share. The ex-dividend date of this dividend was Friday, April 25th. This represents a $1.63 annualized dividend and a dividend yield of 2.87%. TXNM Energy’s payout ratio is 72.44%.

Hedge Funds Weigh In On TXNM Energy

Institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. lifted its holdings in shares of TXNM Energy by 3.6% in the 1st quarter. Vanguard Group Inc. now owns 10,487,634 shares of the company’s stock worth $560,879,000 after acquiring an additional 361,945 shares during the last quarter. T. Rowe Price Investment Management Inc. bought a new stake in TXNM Energy during the 4th quarter valued at about $303,744,000. FMR LLC bought a new stake in shares of TXNM Energy in the 4th quarter valued at about $191,594,000. Fuller & Thaler Asset Management Inc. purchased a new position in shares of TXNM Energy in the 4th quarter worth approximately $189,170,000. Finally, Alliancebernstein L.P. grew its position in TXNM Energy by 41.4% during the 1st quarter. Alliancebernstein L.P. now owns 3,560,321 shares of the company’s stock worth $190,406,000 after purchasing an additional 1,043,259 shares during the last quarter. 91.68% of the stock is owned by hedge funds and other institutional investors.

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.