TXNM Energy (NYSE:TXNM) Hits New 12-Month High – Here’s Why

Shares of TXNM Energy, Inc. (NYSE:TXNM) reached a new 52-week high on Thursday . The stock traded as high as $44.88 and last traded at $44.82, with a volume of 6476 shares traded. The stock had previously closed at $44.61.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on TXNM. Scotiabank started coverage on TXNM Energy in a research note on Thursday, October 10th. They issued a “sector perform” rating and a $46.00 target price for the company. Barclays boosted their price objective on TXNM Energy from $45.00 to $46.00 and gave the stock an “overweight” rating in a report on Tuesday, October 15th. Jefferies Financial Group assumed coverage on shares of TXNM Energy in a research note on Wednesday, October 2nd. They issued a “buy” rating and a $50.00 target price on the stock. Finally, Wells Fargo & Company boosted their price target on shares of TXNM Energy from $46.00 to $49.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 16th.

TXNM Energy Stock Down 1.3 %

The company has a current ratio of 0.47, a quick ratio of 0.37 and a debt-to-equity ratio of 1.88. The company has a market cap of $3.98 billion, a PE ratio of 48.53, a P/E/G ratio of 6.32 and a beta of 0.36. The business has a fifty day moving average price of $42.53.

TXNM Energy (NYSE:TXNM) last released its quarterly earnings data on Wednesday, July 31st. The company reported $0.60 earnings per share for the quarter, topping the consensus estimate of $0.55 by $0.05. TXNM Energy had a net margin of 4.50% and a return on equity of 10.15%. The business had revenue of $488.10 million for the quarter, compared to analyst estimates of $506.98 million. Sell-side analysts anticipate that TXNM Energy, Inc. will post 2.71 earnings per share for the current year.

TXNM Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 8th. Investors of record on Monday, October 28th will be given a $0.3875 dividend. This represents a $1.55 dividend on an annualized basis and a dividend yield of 3.51%. The ex-dividend date of this dividend is Monday, October 28th. TXNM Energy’s dividend payout ratio is currently 170.33%.

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.