TXNM Energy (NYSE:TXNM) Hits New 12-Month High – Here’s Why

Shares of TXNM Energy, Inc. (NYSE:TXNM) hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $59.52 and last traded at $59.4550, with a volume of 261369 shares traded. The stock had previously closed at $59.32.

Wall Street Analyst Weigh In

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

TXNM Energy Stock Performance

The company has a quick ratio of 0.36, a current ratio of 0.51 and a debt-to-equity ratio of 1.35. The stock has a market cap of $6.46 billion, a P/E ratio of 34.68, a price-to-earnings-growth ratio of 2.53 and a beta of 0.16. The firm’s 50-day moving average is $58.92 and its two-hundred day moving average is $57.70.

TXNM Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 13th. Stockholders of record on Friday, January 30th will be issued a dividend of $0.4225 per share. The ex-dividend date of this dividend is Friday, January 30th. This represents a $1.69 dividend on an annualized basis and a dividend yield of 2.9%. This is a positive change from TXNM Energy’s previous quarterly dividend of $0.41. TXNM Energy’s payout ratio is currently 98.83%.

Insiders Place Their Bets

In other TXNM Energy news, Director Vicky A. Bailey sold 1,800 shares of the stock in a transaction that occurred on Friday, November 14th. The stock was sold at an average price of $57.74, for a total transaction of $103,932.00. Following the transaction, the director owned 8,725 shares in the company, valued at $503,781.50. This trade represents a 17.10% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 1.28% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Principal Financial Group Inc. boosted its position in TXNM Energy by 55.4% in the third quarter. Principal Financial Group Inc. now owns 330,336 shares of the company’s stock valued at $18,681,000 after buying an additional 117,765 shares in the last quarter. AlphaQuest LLC bought a new position in shares of TXNM Energy in the third quarter valued at approximately $2,880,000. Truist Financial Corp acquired a new position in shares of TXNM Energy in the 3rd quarter worth approximately $4,378,000. BCK Capital Management LP bought a new stake in TXNM Energy during the 2nd quarter worth approximately $2,090,000. Finally, GABELLI & Co INVESTMENT ADVISERS INC. bought a new stake in TXNM Energy during the 2nd quarter worth approximately $6,974,000. Institutional investors and hedge funds 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.