TXNM Energy (NYSE:TXNM) Sets New 1-Year High – Time to Buy?

TXNM Energy, Inc. (NYSE:TXNM)’s stock price reached a new 52-week high on Thursday . The company traded as high as $59.52 and last traded at $59.4550, with a volume of 261369 shares changing hands. The stock had previously closed at $59.32.

Analyst Ratings Changes

TXNM has been the subject of a number of analyst reports. Wall Street Zen downgraded TXNM Energy from a “hold” rating to a “sell” rating in a research note on Saturday, January 31st. Weiss Ratings reissued a “hold (c+)” rating on shares of TXNM Energy in a report on Monday, December 29th. Finally, Jefferies Financial Group downgraded shares of TXNM Energy from a “buy” rating to a “hold” rating and upped their price target for the stock from $58.00 to $61.25 in a report on Monday, October 27th. One equities research analyst has rated the stock with a Buy rating and six have given a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $59.30.

TXNM Energy Stock Performance

The firm has a market capitalization of $6.46 billion, a price-to-earnings ratio of 34.67, a PEG ratio of 2.53 and a beta of 0.16. The company has a current ratio of 0.51, a quick ratio of 0.36 and a debt-to-equity ratio of 1.35. The stock’s 50-day moving average is $58.97 and its 200-day moving average is $57.73.

TXNM Energy Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 13th. Stockholders of record on Friday, January 30th were issued a dividend of $0.4225 per share. This represents a $1.69 annualized dividend and a dividend yield of 2.9%. This is a boost from TXNM Energy’s previous quarterly dividend of $0.41. The ex-dividend date was Friday, January 30th. TXNM Energy’s dividend payout ratio (DPR) is currently 98.83%.

Institutional Investors Weigh In On TXNM Energy

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

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. 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.