TXNM Energy (NYSE:TXNM) Reaches New 12-Month High Following Analyst Upgrade

TXNM Energy, Inc. (NYSE:TXNM) shares hit a new 52-week high on Tuesday after Barclays raised their price target on the stock from $56.00 to $57.00. Barclays currently has an overweight rating on the stock. TXNM Energy traded as high as $55.50 and last traded at $54.08, with a volume of 914979 shares trading hands. The stock had previously closed at $52.82.

Other equities research analysts have also recently issued reports about the stock. Scotiabank lifted their price target on shares of TXNM Energy from $52.00 to $55.00 and gave the company a “sector perform” rating in a research report on Monday, February 24th. Wells Fargo & Company lifted their price objective on shares of TXNM Energy from $49.00 to $53.00 and gave the company an “overweight” rating in a report on Tuesday, November 26th. Citigroup lifted their price objective on shares of TXNM Energy from $45.00 to $53.00 and gave the company a “neutral” rating in a report on Thursday, December 12th. Evercore ISI upgraded shares of TXNM Energy from an “in-line” rating to an “outperform” rating and lifted their price objective for the company from $51.00 to $54.00 in a report on Tuesday, February 11th. Finally, Mizuho upgraded shares of TXNM Energy from a “neutral” rating to an “outperform” rating and set a $53.00 price objective for the company in a report on Tuesday, March 11th. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $53.57.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in TXNM. Xponance Inc. purchased a new position in TXNM Energy in the fourth quarter worth approximately $625,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS purchased a new position in TXNM Energy in the fourth quarter worth approximately $8,369,000. Sei Investments Co. purchased a new position in TXNM Energy in the fourth quarter worth approximately $9,270,000. LPL Financial LLC purchased a new position in TXNM Energy in the fourth quarter worth approximately $470,000. Finally, Vanguard Group Inc. purchased a new position in TXNM Energy in the fourth quarter worth approximately $497,880,000. Hedge funds and other institutional investors own 91.68% of the company’s stock.

TXNM Energy Stock Up 0.1 %

The business’s 50 day moving average is $49.73 and its 200-day moving average is $46.97. 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 $5.05 billion, a PE ratio of 28.37, a P/E/G ratio of 6.12 and a beta of 0.32.

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

TXNM Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 16th. Stockholders of record on Friday, April 25th will be given a dividend of $0.4075 per share. The ex-dividend date of this dividend is Friday, April 25th. This represents a $1.63 annualized dividend and a dividend yield of 2.99%. TXNM Energy’s dividend payout ratio is presently 61.05%.

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.