TXNM Energy (NYSE:TXNM) Reaches New 52-Week High – What’s Next?

TXNM Energy, Inc. (NYSE:TXNM)’s share price reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $56.50 and last traded at $53.75, with a volume of 431772 shares. The stock had previously closed at $52.89.

Analyst Ratings Changes

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

TXNM Energy Stock Up 1.0%

The business has a 50 day moving average of $52.38 and a 200 day moving average of $49.64. The firm has a market capitalization of $4.95 billion, a price-to-earnings ratio of 27.90, a price-to-earnings-growth ratio of 6.12 and a beta of 0.11. 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 (NYSE:TXNM) last announced its quarterly earnings results on Friday, May 9th. The company reported $0.19 earnings per share for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.01). TXNM Energy had a net margin of 9.26% and a return on equity of 9.69%. The company had revenue of $482.79 million during the quarter, compared to the consensus estimate of $451.01 million. The company’s revenue for the quarter was up 10.5% compared to the same quarter last year. On average, equities analysts anticipate that TXNM Energy, Inc. will post 2.73 EPS for the current year.

TXNM Energy Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, May 16th. Investors of record on Friday, April 25th will be issued a $0.4075 dividend. This represents a $1.63 annualized dividend and a yield of 3.05%. The ex-dividend date is Friday, April 25th. TXNM Energy’s dividend payout ratio is 72.44%.

Hedge Funds Weigh In On TXNM Energy

Hedge funds have recently added to or reduced their stakes in the stock. Hughes Financial Services LLC acquired a new position in TXNM Energy in the first quarter valued at about $25,000. Bessemer Group Inc. bought a new position in shares of TXNM Energy during the fourth quarter worth about $27,000. Versant Capital Management Inc bought a new position in shares of TXNM Energy during the first quarter worth about $35,000. Fifth Third Bancorp bought a new position in shares of TXNM Energy during the first quarter worth about $40,000. Finally, Aster Capital Management DIFC Ltd bought a new position in TXNM Energy in the fourth quarter valued at approximately $38,000. Institutional investors and hedge funds own 91.68% of the company’s stock.

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.