TXNM Energy (NYSE:TXNM) Reaches New 12-Month Low – Here’s What Happened

TXNM Energy, Inc. (NYSE:TXNM) hit a new 52-week low during trading on Thursday . The company traded as low as $55.64 and last traded at $56.1690, with a volume of 4535325 shares. The stock had previously closed at $56.72.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on TXNM. Weiss Ratings reiterated a “hold (c)” rating on shares of TXNM Energy in a report on Friday, May 29th. Wall Street Zen raised shares of TXNM Energy from a “sell” rating to a “hold” rating in a research report on Saturday, June 27th. Three research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $61.25.

TXNM Energy Trading Down 0.1%

The business has a 50-day moving average of $58.41 and a 200-day moving average of $58.75. The company has a quick ratio of 0.36, a current ratio of 0.55 and a debt-to-equity ratio of 1.46. The stock has a market cap of $6.30 billion, a price-to-earnings ratio of 40.93, a PEG ratio of 2.46 and a beta of 0.17.

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

TXNM Energy Increases Dividend

The firm also recently announced 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 represents a $4.58 dividend on an annualized basis and a yield of 8.1%. This is a boost from TXNM Energy’s previous quarterly dividend of $0.42. The ex-dividend date is Tuesday, June 30th. TXNM Energy’s dividend payout ratio is presently 121.58%.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Vanguard Group Inc. lifted its stake in shares of TXNM Energy by 2.9% in the 4th quarter. Vanguard Group Inc. now owns 11,899,308 shares of the company’s stock valued at $700,631,000 after purchasing an additional 330,382 shares during the last quarter. Balyasny Asset Management L.P. increased its position in TXNM Energy by 344.9% during the third quarter. Balyasny Asset Management L.P. now owns 4,042,301 shares of the company’s stock worth $228,592,000 after buying an additional 3,133,794 shares during the last quarter. Norges Bank acquired a new position in TXNM Energy during the fourth quarter worth $182,061,000. Geode Capital Management LLC raised its holdings in TXNM Energy by 6.7% during the fourth quarter. Geode Capital Management LLC now owns 2,570,550 shares of the company’s stock valued at $151,378,000 after buying an additional 161,141 shares in the last quarter. Finally, Goldman Sachs Group Inc. raised its holdings in 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 buying an additional 668,929 shares in the last quarter. 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. 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.