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

TXNM Energy, Inc. (NYSE:TXNM) shares reached a new 52-week high during trading on Tuesday . The stock traded as high as $59.23 and last traded at $59.2160, with a volume of 57273 shares. The stock had previously closed at $59.16.

Analysts Set New Price Targets

TXNM has been the topic of several recent research reports. Jefferies Financial Group lowered TXNM Energy from a “buy” rating to a “hold” rating and increased their price objective for the company from $58.00 to $61.25 in a research report on Monday, October 27th. Citigroup began coverage on shares of TXNM Energy in a research report on Thursday, October 9th. They set a “neutral” rating and a $61.25 price target for the company. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of TXNM Energy in a report on Monday, December 29th. Two research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, TXNM Energy presently has an average rating of “Hold” and a consensus target price of $58.42.

TXNM Energy Price Performance

The firm’s fifty day simple moving average is $58.54 and its 200-day simple moving average is $57.42. The firm has a market capitalization of $6.46 billion, a PE ratio of 34.65, a PEG ratio of 2.53 and a beta of 0.17. The company has a quick ratio of 0.36, a current ratio of 0.51 and a debt-to-equity ratio of 1.35.

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 firm had revenue of $647.16 million for the quarter, compared to analysts’ expectations of $608.65 million. During the same quarter in the previous year, the company earned $1.43 EPS. On average, research analysts forecast that TXNM Energy, Inc. will post 2.73 earnings per share for the current fiscal year.

TXNM Energy Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, February 13th. Shareholders of record on Friday, January 30th will be issued a $0.4225 dividend. This is a positive change from TXNM Energy’s previous quarterly dividend of $0.41. This represents a $1.69 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date of this dividend is Friday, January 30th. TXNM Energy’s dividend payout ratio is currently 95.32%.

Insider Activity at TXNM Energy

In other news, Director Vicky A. Bailey sold 1,800 shares of the company’s stock in a transaction dated Friday, November 14th. The shares were sold at an average price of $57.74, for a total transaction of $103,932.00. Following the completion of the sale, the director owned 8,725 shares of the company’s stock, valued at $503,781.50. This represents a 17.10% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 1.36% of the stock is owned by insiders.

Hedge Funds Weigh In On TXNM Energy

A number of hedge funds have recently modified their holdings of the company. Cape Investment Advisory Inc. purchased a new position in shares of TXNM Energy during the 2nd quarter valued at $28,000. Huntington National Bank raised its holdings in TXNM Energy by 1,307.0% during the second quarter. Huntington National Bank now owns 605 shares of the company’s stock valued at $34,000 after acquiring an additional 562 shares during the period. Smartleaf Asset Management LLC lifted its position in shares of TXNM Energy by 280.0% in the third quarter. Smartleaf Asset Management LLC now owns 1,026 shares of the company’s stock valued at $58,000 after acquiring an additional 756 shares in the last quarter. MorganRosel Wealth Management LLC bought a new position in shares of TXNM Energy in the second quarter worth about $67,000. Finally, Jones Financial Companies Lllp raised its stake in TXNM Energy by 574.0% during the 3rd quarter. Jones Financial Companies Lllp now owns 1,294 shares of the company’s stock valued at $73,000 after purchasing an additional 1,102 shares during the period. 91.68% of the stock is currently owned by institutional investors.

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.