TXNM Energy (NYSE:TXNM) Reaches New 1-Year High – Here’s Why

Shares of TXNM Energy, Inc. (NYSE:TXNM) hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $59.52 and last traded at $59.49, with a volume of 1258793 shares. The stock had previously closed at $59.47.

Analyst Ratings Changes

Separately, Wall Street Zen lowered TXNM Energy from a “hold” rating to a “sell” rating in a research note on Monday, May 11th. Three investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $61.25.

TXNM Energy Stock Performance

The company has a current ratio of 0.55, a quick ratio of 0.36 and a debt-to-equity ratio of 1.46. The company’s fifty day moving average is $58.93 and its 200 day moving average is $58.78. The company has a market cap of $6.59 billion, a P/E ratio of 42.80, a price-to-earnings-growth ratio of 2.57 and a beta of 0.16.

TXNM Energy (NYSE:TXNM) last released its earnings results on Friday, May 1st. The company reported $0.21 EPS for the quarter, missing the consensus estimate of $0.30 by ($0.09). TXNM Energy had a net margin of 6.96% and a return on equity of 7.18%. The business had revenue of $504.98 million for the quarter, compared to the consensus estimate of $506.24 million. During the same period in the prior year, the business posted $0.19 EPS. TXNM Energy’s revenue for the quarter was up 4.6% on a year-over-year basis. As a group, equities analysts predict that TXNM Energy, Inc. will post 3.07 earnings per share for the current fiscal year.

TXNM Energy Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th will be paid a $1.145 dividend. This is an increase from TXNM Energy’s previous quarterly dividend of $0.42. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $4.58 dividend on an annualized basis and a yield of 7.7%. TXNM Energy’s payout ratio is presently 121.58%.

Hedge Funds Weigh In On TXNM Energy

A number of large investors have recently bought and sold shares of the stock. Vanguard Group Inc. increased its stake in TXNM Energy by 2.9% in the 4th quarter. Vanguard Group Inc. now owns 11,899,308 shares of the company’s stock worth $700,631,000 after purchasing an additional 330,382 shares during the period. Balyasny Asset Management L.P. increased its stake in TXNM Energy by 344.9% in the 3rd quarter. Balyasny Asset Management L.P. now owns 4,042,301 shares of the company’s stock worth $228,592,000 after purchasing an additional 3,133,794 shares during the period. Norges Bank purchased a new position in TXNM Energy in the 4th quarter worth approximately $182,061,000. Geode Capital Management LLC increased its stake in TXNM Energy by 6.7% in the 4th quarter. Geode Capital Management LLC now owns 2,570,550 shares of the company’s stock worth $151,378,000 after purchasing an additional 161,141 shares during the period. Finally, Goldman Sachs Group Inc. raised its stake in shares of TXNM Energy by 53.0% during the fourth quarter. Goldman Sachs Group Inc. now owns 1,931,107 shares of the company’s stock valued at $113,704,000 after acquiring an additional 668,929 shares during the last quarter. 91.68% of the stock is owned by hedge funds and other institutional investors.

About TXNM Energy

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. The segment owns and leases communications, office and other equipment, office space, vehicles, and real estate. It generates electricity using coal, natural gas and oil, and nuclear fuel and waste, as well as solar, wind, geothermal, and battery storage energy sources.