TXNM Energy Sees Unusually High Options Volume (NYSE:TXNM)

TXNM Energy, Inc. (NYSE:TXNM) saw some unusual options trading on Wednesday. Stock investors bought 2,500 call options on the stock. This represents an increase of 16,567% compared to the typical volume of 15 call options.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on TXNM shares. Wells Fargo & Company raised their target price on TXNM Energy from $49.00 to $53.00 and gave the company an “overweight” rating in a research note on Tuesday, November 26th. Scotiabank raised their target price on TXNM Energy from $46.00 to $52.00 and gave the company a “sector perform” rating in a research note on Thursday, December 12th. Citigroup raised 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. Finally, Barclays lifted their price target on TXNM Energy from $46.00 to $52.00 and gave the company an “overweight” rating in a research note on Friday, November 29th. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $52.00.

TXNM Energy Stock Performance

TXNM stock opened at $49.62 on Friday. The firm has a market cap of $4.48 billion, a P/E ratio of 25.84, a P/E/G ratio of 5.75 and a beta of 0.40. The company has a debt-to-equity ratio of 1.80, a current ratio of 0.36 and a quick ratio of 0.27. TXNM Energy has a 52-week low of $35.35 and a 52-week high of $50.28. The company’s 50-day moving average is $48.31.

TXNM Energy Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Friday, January 31st will be paid a dividend of $0.4075 per share. The ex-dividend date of this dividend is Friday, January 31st. This represents a $1.63 dividend on an annualized basis and a yield of 3.29%. This is an increase from TXNM Energy’s previous quarterly dividend of $0.39. TXNM Energy’s payout ratio is 84.90%.

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.