TXNM Energy (NYSE:TXNM) Sets New 52-Week High – Still a Buy?

TXNM Energy, Inc. (NYSE:TXNM)’s stock price hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $59.08 and last traded at $59.0610, with a volume of 142262 shares traded. The stock had previously closed at $58.93.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. Jefferies Financial Group cut shares of TXNM Energy from a “buy” rating to a “hold” rating and increased their price objective for the stock from $58.00 to $61.25 in a research note on Monday, October 27th. Weiss Ratings reiterated a “hold (c+)” rating on shares of TXNM Energy in a research note on Monday, December 15th. Finally, Citigroup started coverage on TXNM Energy in a research note on Thursday, October 9th. They issued a “neutral” rating and a $61.25 price objective for the company. Two equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $58.42.

TXNM Energy Stock Performance

The company has a market cap of $6.43 billion, a PE ratio of 34.54, a PEG ratio of 2.78 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 business’s 50 day moving average is $57.74 and its two-hundred day moving average is $57.07.

TXNM Energy (NYSE:TXNM) last posted its quarterly earnings results on Friday, October 31st. The company reported $1.33 EPS for the quarter, missing analysts’ consensus estimates of $1.44 by ($0.11). TXNM Energy had a net margin of 8.67% and a return on equity of 7.20%. The business had revenue of $647.16 million for the quarter, compared to the consensus estimate of $608.65 million. During the same period in the prior year, the business earned $1.43 earnings per share. On average, equities research analysts anticipate that TXNM Energy, Inc. will post 2.73 EPS for the current year.

TXNM Energy Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, February 13th. Stockholders of record on Friday, January 30th will be issued a $0.4225 dividend. 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 of this dividend is Friday, January 30th. TXNM Energy’s payout ratio is presently 95.32%.

Insider Activity at TXNM Energy

In related news, Director Vicky A. Bailey sold 1,800 shares of the firm’s stock in a transaction on Friday, November 14th. The shares were sold at an average price of $57.74, for a total value of $103,932.00. Following the completion of the transaction, the director directly owned 8,725 shares of the company’s stock, valued at approximately $503,781.50. This trade represents a 17.10% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 1.36% of the company’s stock.

Hedge Funds Weigh In On TXNM Energy

Institutional investors have recently bought and sold shares of the business. Cape Investment Advisory Inc. purchased a new stake in TXNM Energy during the second quarter valued at approximately $28,000. Huntington National Bank raised its holdings in TXNM Energy by 1,307.0% during the 2nd quarter. Huntington National Bank now owns 605 shares of the company’s stock valued at $34,000 after buying an additional 562 shares during the period. Smartleaf Asset Management LLC purchased a new stake in TXNM Energy during the 1st quarter valued at $43,000. BI Asset Management Fondsmaeglerselskab A S bought a new stake in TXNM Energy in the first quarter worth $54,000. Finally, Twin Tree Management LP purchased a new position in TXNM Energy during the first quarter worth $58,000. 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.