TXNM Energy (NYSE:TXNM) Sets New 1-Year High – Here’s What Happened

TXNM Energy, Inc. (NYSE:TXNM)’s stock price reached a new 52-week high during trading on Monday . The stock traded as high as $57.94 and last traded at $57.9150, with a volume of 68924 shares traded. The stock had previously closed at $57.84.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on TXNM. Jefferies Financial Group lowered shares of TXNM Energy from a “buy” rating to a “hold” rating and upped their target price for the stock from $58.00 to $61.25 in a report on Monday, October 27th. Weiss Ratings reissued a “buy (b-)” rating on shares of TXNM Energy in a report on Monday. Finally, Citigroup assumed coverage on TXNM Energy in a research note on Thursday, October 9th. They issued a “neutral” rating and a $61.25 price objective for the company. Four equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $57.64.

TXNM Energy Stock Down 0.2%

The company has a current ratio of 0.51, a quick ratio of 0.36 and a debt-to-equity ratio of 1.49. The stock’s 50-day simple moving average is $56.97 and its 200-day simple moving average is $56.51. The firm has a market capitalization of $6.28 billion, a P/E ratio of 29.74, a P/E/G ratio of 2.69 and a beta of 0.13.

TXNM Energy (NYSE:TXNM) last posted its quarterly earnings data on Friday, October 31st. The company reported $1.33 earnings per share for the quarter, missing the consensus estimate of $1.44 by ($0.11). The business had revenue of $647.16 million during the quarter, compared to analysts’ expectations of $608.65 million. TXNM Energy had a return on equity of 7.34% and a net margin of 8.75%.During the same period in the prior year, the firm posted $1.43 EPS. As a group, research analysts predict that TXNM Energy, Inc. will post 2.73 earnings per share for the current fiscal year.

TXNM Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 14th. Shareholders of record on Friday, October 24th were given a $0.4075 dividend. The ex-dividend date of this dividend was Friday, October 24th. This represents a $1.63 annualized dividend and a yield of 2.8%. TXNM Energy’s payout ratio is currently 95.32%.

Insider Buying and Selling at TXNM Energy

In other news, Director Vicky A. Bailey sold 1,800 shares of the firm’s stock in a transaction that occurred on Friday, November 14th. The shares were sold at an average price of $57.74, for a total transaction of $103,932.00. Following the completion of the sale, the director owned 8,725 shares in the company, valued at $503,781.50. This trade represents a 17.10% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.28% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On TXNM Energy

Several institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. increased its position in TXNM Energy by 16.0% in the third quarter. Vanguard Group Inc. now owns 11,568,926 shares of the company’s stock worth $654,223,000 after buying an additional 1,598,954 shares during the last quarter. Balyasny Asset Management L.P. lifted its position in shares of TXNM Energy by 344.9% during the 3rd quarter. Balyasny Asset Management L.P. now owns 4,042,301 shares of the company’s stock valued at $228,592,000 after buying an additional 3,133,794 shares during the last quarter. Alliancebernstein L.P. grew its stake in shares of 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 acquiring an additional 1,043,259 shares during the period. Reaves W H & Co. Inc. purchased a new stake in TXNM Energy in the 1st quarter worth about $161,678,000. Finally, Geode Capital Management LLC increased its holdings in TXNM Energy by 2.9% in the 2nd quarter. Geode Capital Management LLC now owns 2,275,324 shares of the company’s stock worth $128,169,000 after acquiring an additional 63,240 shares during the last quarter. Hedge funds and other 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.