TXNM Energy (NYSE:TXNM) Sets New 1-Year High – Time to Buy?

TXNM Energy, Inc. (NYSE:TXNM) hit a new 52-week high on Monday . The stock traded as high as $56.50 and last traded at $53.75, with a volume of 431772 shares traded. The stock had previously closed at $52.89.

Analyst Upgrades and Downgrades

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

TXNM Energy Trading Up 0.4%

The stock has a market cap of $4.93 billion, a P/E ratio of 27.71, a price-to-earnings-growth ratio of 6.12 and a beta of 0.11. The company has a current ratio of 0.36, a quick ratio of 0.27 and a debt-to-equity ratio of 1.80. The business’s fifty 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 results 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 net margin of 9.26% and a return on equity of 9.69%. The firm had revenue of $482.79 million during the quarter, compared to analyst estimates of $451.01 million. TXNM Energy’s revenue for the quarter was up 10.5% on a year-over-year basis. As a group, analysts expect that TXNM Energy, Inc. will post 2.73 EPS for the current year.

TXNM Energy Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 16th. Shareholders of record on Friday, April 25th will be paid a dividend of $0.4075 per share. This represents a $1.63 annualized dividend and a yield of 3.06%. The ex-dividend date is Friday, April 25th. TXNM Energy’s payout ratio is 72.44%.

Hedge Funds Weigh In On TXNM Energy

Several large investors have recently bought and sold shares of the company. Hughes Financial Services LLC acquired a new stake in shares of TXNM Energy during the 1st quarter worth approximately $25,000. Bessemer Group Inc. bought a new position in TXNM Energy during the fourth quarter valued at about $27,000. Versant Capital Management Inc purchased a new stake in TXNM Energy in the first quarter worth $35,000. Fifth Third Bancorp bought a new position in TXNM Energy during the first quarter worth about $40,000. Finally, Aster Capital Management DIFC Ltd bought a new stake in TXNM Energy during the 4th quarter valued at $38,000. 91.68% of the stock is currently owned by institutional investors.

About TXNM Energy

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.