TXNM Energy (NYSE:TXNM) Sets New 52-Week High – Here’s Why

Shares of TXNM Energy, Inc. (NYSE:TXNM) reached a new 52-week high during trading on Monday . The company traded as high as $57.52 and last traded at $57.5250, with a volume of 91112 shares traded. The stock had previously closed at $57.34.

Wall Street Analyst Weigh In

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

TXNM Energy Stock Up 0.8%

The firm’s fifty day simple moving average is $56.84 and its two-hundred day simple moving average is $56.29. 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 company has a market capitalization of $6.30 billion, a price-to-earnings ratio of 29.79, a price-to-earnings-growth ratio of 2.69 and a beta of 0.13.

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

TXNM Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 14th. Stockholders of record on Friday, October 24th will be issued a dividend of $0.4075 per share. The ex-dividend date is Friday, October 24th. This represents a $1.63 dividend on an annualized basis and a dividend yield of 2.8%. TXNM Energy’s dividend payout ratio is currently 95.32%.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the stock. Hughes Financial Services LLC acquired a new stake in shares of TXNM Energy during the first quarter valued at about $25,000. Cape Investment Advisory Inc. purchased a new position in shares of TXNM Energy during the 2nd quarter worth approximately $28,000. Huntington National Bank increased its holdings in TXNM Energy by 1,307.0% in the 2nd quarter. Huntington National Bank now owns 605 shares of the company’s stock valued at $34,000 after purchasing an additional 562 shares during the last quarter. Smartleaf Asset Management LLC purchased a new stake in TXNM Energy in the first quarter valued at approximately $43,000. Finally, BI Asset Management Fondsmaeglerselskab A S acquired a new position in TXNM Energy during the first quarter worth $54,000. Institutional investors and hedge funds 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.