TXNM Energy (NYSE:TXNM) Reaches New 12-Month High – What’s Next?

Shares of TXNM Energy, Inc. (NYSE:TXNM) hit a new 52-week high on Thursday . The company traded as high as $51.25 and last traded at $51.19, with a volume of 36784 shares changing hands. The stock had previously closed at $50.97.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on TXNM shares. Evercore ISI raised shares of TXNM Energy from an “in-line” rating to an “outperform” rating and lifted their price target for the company from $51.00 to $54.00 in a research report on Tuesday, February 11th. Wells Fargo & Company boosted their target price on shares of TXNM Energy from $49.00 to $53.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 26th. Scotiabank raised their price target on TXNM Energy from $46.00 to $52.00 and gave the company a “sector perform” rating in a research report on Thursday, December 12th. Barclays lifted their price objective on TXNM Energy from $46.00 to $52.00 and gave the stock an “overweight” rating in a research note on Friday, November 29th. Finally, Citigroup increased their target price on TXNM Energy from $45.00 to $53.00 and gave the company a “neutral” rating in a research note on Thursday, December 12th. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $52.33.

TXNM Energy Trading Up 3.2 %

The company has a quick ratio of 0.27, a current ratio of 0.36 and a debt-to-equity ratio of 1.80. The firm has a market capitalization of $4.79 billion, a price-to-earnings ratio of 27.65, a P/E/G ratio of 6.12 and a beta of 0.40. The business has a 50-day moving average of $48.53 and a two-hundred day moving average of $45.52.

TXNM Energy (NYSE:TXNM) last released its quarterly earnings data on Friday, February 21st. The company reported $0.30 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.30. The business had revenue of $476.96 million for the quarter, compared to analysts’ expectations of $496.05 million. TXNM Energy had a return on equity of 9.69% and a net margin of 9.26%. Research analysts predict that TXNM Energy, Inc. will post 2.73 EPS for the current fiscal year.

TXNM Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Friday, January 31st were issued a dividend of $0.4075 per share. This represents a $1.63 dividend on an annualized basis and a dividend yield of 3.07%. This is an increase from TXNM Energy’s previous quarterly dividend of $0.39. The ex-dividend date of this dividend was Friday, January 31st. TXNM Energy’s dividend payout ratio (DPR) is presently 84.90%.

Institutional Trading of TXNM Energy

A number of institutional investors and hedge funds have recently added to or reduced their stakes in TXNM. Vanguard Group Inc. bought a new stake in shares of TXNM Energy in the 4th quarter valued at approximately $497,880,000. T. Rowe Price Investment Management Inc. bought a new position in shares of TXNM Energy in the fourth quarter valued at approximately $303,744,000. FMR LLC acquired a new position in shares of TXNM Energy in the 4th quarter worth approximately $191,594,000. Fuller & Thaler Asset Management Inc. bought a new stake in TXNM Energy during the 4th quarter worth approximately $189,170,000. Finally, Zimmer Partners LP acquired a new stake in TXNM Energy during the 4th quarter valued at $165,816,000. 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.