TXNM Energy (NYSE:TXNM) Sets New 12-Month High – Should You Buy?

TXNM Energy, Inc. (NYSE:TXNM)’s stock price 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 trading hands. The stock had previously closed at $57.34.

Analyst Ratings Changes

Several equities analysts have issued reports on TXNM shares. Jefferies Financial Group lowered shares of TXNM Energy from a “buy” rating to a “hold” rating and lifted their price target for the stock from $58.00 to $61.25 in a report on Monday, October 27th. Citigroup assumed coverage on TXNM Energy in a research note on Thursday, October 9th. They set a “neutral” rating and a $61.25 target price on the stock. Finally, Weiss Ratings upgraded TXNM Energy from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Wednesday. Four investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $57.64.

TXNM Energy Trading Up 0.8%

The company has a 50 day simple moving average of $56.84 and a two-hundred day simple moving average of $56.29. The company has a debt-to-equity ratio of 1.49, a quick ratio of 0.36 and a current ratio of 0.51. The firm has a market cap of $6.30 billion, a PE ratio of 29.79, a P/E/G ratio of 2.69 and a beta of 0.13.

TXNM Energy (NYSE:TXNM) last issued its earnings results on Friday, October 31st. The company reported $1.33 EPS for the quarter, missing analysts’ consensus estimates of $1.44 by ($0.11). TXNM Energy had a net margin of 8.75% and a return on equity of 7.34%. The firm had revenue of $647.16 million during the quarter, compared to analysts’ expectations of $608.65 million. During the same quarter in the prior year, the company earned $1.43 EPS. Analysts expect that TXNM Energy, Inc. will post 2.73 EPS for the current fiscal year.

TXNM Energy Announces Dividend

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

Institutional Investors Weigh In On TXNM Energy

A number of hedge funds and other institutional investors have recently made changes to their positions in TXNM. Hughes Financial Services LLC purchased a new position in TXNM Energy in the first quarter valued at $25,000. Cape Investment Advisory Inc. acquired a new position in TXNM Energy in the 2nd quarter worth about $28,000. Huntington National Bank grew its holdings in TXNM Energy by 1,307.0% in the second 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 period. Smartleaf Asset Management LLC acquired a new position in shares of TXNM Energy during the 1st quarter worth approximately $43,000. Finally, BI Asset Management Fondsmaeglerselskab A S acquired a new stake in TXNM Energy in the 1st quarter valued at $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.