TXNM Energy (NYSE:TXNM) Sets New 1-Year High – Still a Buy?

TXNM Energy, Inc. (NYSE:TXNM) shares reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $57.29 and last traded at $56.59, with a volume of 2884236 shares trading hands. The stock had previously closed at $52.88.

Wall Street Analyst Weigh In

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

TXNM Energy Trading Up 7.4%

The company has a debt-to-equity ratio of 1.80, a current ratio of 0.36 and a quick ratio of 0.27. The company has a market cap of $5.26 billion, a price-to-earnings ratio of 29.56, a PEG ratio of 6.12 and a beta of 0.11. The business’s 50-day simple moving average is $52.77 and its 200-day simple moving average is $49.97.

TXNM Energy (NYSE:TXNM) last announced its earnings results on Friday, May 9th. The company reported $0.19 earnings per share 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. Research analysts predict that TXNM Energy, Inc. will post 2.73 earnings per share for the current fiscal year.

TXNM Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 16th. Stockholders of record on Friday, April 25th were paid a dividend of $0.4075 per share. This represents a $1.63 dividend on an annualized basis and a dividend yield of 2.87%. The ex-dividend date of this dividend was Friday, April 25th. TXNM Energy’s dividend payout ratio is currently 72.44%.

Institutional Trading of TXNM Energy

A number of institutional investors have recently modified their holdings of the company. Vanguard Group Inc. acquired a new position 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 worth $303,744,000. FMR LLC bought a new position in shares of TXNM Energy in the fourth quarter worth $191,594,000. Fuller & Thaler Asset Management Inc. bought a new position in TXNM Energy during the fourth quarter valued at about $189,170,000. Finally, Zimmer Partners LP bought a new position in TXNM Energy during the fourth quarter valued at about $165,816,000. Hedge funds and other 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.