TXNM Energy (NYSE:TXNM) Reaches New 1-Year High – Should You Buy?

TXNM Energy, Inc. (NYSE:TXNM)’s stock price reached a new 52-week high during mid-day trading on Friday . The company traded as high as $58.30 and last traded at $58.2550, with a volume of 64586 shares trading hands. The stock had previously closed at $58.15.

Analyst Ratings Changes

Several research analysts have commented on TXNM shares. Jefferies Financial Group downgraded TXNM Energy from a “buy” rating to a “hold” rating and raised their target price for the stock from $58.00 to $61.25 in a research note on Monday, October 27th. Citigroup began coverage on shares of TXNM Energy in a report on Thursday, October 9th. They issued a “neutral” rating and a $61.25 price target on the stock. Finally, Weiss Ratings cut shares of TXNM Energy from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Monday. Two analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, TXNM Energy presently has a consensus rating of “Hold” and a consensus price target of $58.42.

TXNM Energy Trading Up 0.4%

The company has a current ratio of 0.51, a quick ratio of 0.36 and a debt-to-equity ratio of 1.49. The stock’s fifty day moving average price is $57.15 and its two-hundred day moving average price is $56.71. The stock has a market capitalization of $6.36 billion, a P/E ratio of 30.07, a price-to-earnings-growth ratio of 2.69 and a beta of 0.13.

TXNM Energy (NYSE:TXNM) last posted its quarterly earnings results on Friday, October 31st. The company reported $1.33 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.44 by ($0.11). The business had revenue of $647.16 million for the quarter, compared to analysts’ expectations of $608.65 million. TXNM Energy had a net margin of 8.75% and a return on equity of 7.34%. During the same quarter in the previous year, the company earned $1.43 earnings per share. Equities research analysts forecast that TXNM Energy, Inc. will post 2.73 EPS for the current year.

TXNM Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 14th. Stockholders of record on Friday, October 24th were paid a dividend of $0.4075 per share. This represents a $1.63 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date of this dividend was Friday, October 24th. TXNM Energy’s dividend payout ratio is 95.32%.

Insider Activity

In other news, Director Vicky A. Bailey sold 1,800 shares of the firm’s stock in a transaction that occurred on Friday, November 14th. The shares were sold at an average price of $57.74, for a total value of $103,932.00. Following the transaction, the director owned 8,725 shares in the company, valued at approximately $503,781.50. This trade represents a 17.10% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 1.28% of the company’s stock.

Institutional Investors Weigh In On TXNM Energy

Several institutional investors have recently added to or reduced their stakes in TXNM. Cape Investment Advisory Inc. bought a new position in shares of TXNM Energy during the second quarter valued at about $28,000. Huntington National Bank raised its position in TXNM Energy by 1,307.0% during the 2nd 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 last quarter. Smartleaf Asset Management LLC purchased a new stake in TXNM Energy in the 1st quarter worth approximately $43,000. BI Asset Management Fondsmaeglerselskab A S purchased a new stake in TXNM Energy in the 1st quarter worth approximately $54,000. Finally, Twin Tree Management LP bought a new stake in shares of TXNM Energy in the 1st quarter worth approximately $58,000. 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.