TXNM Energy (NYSE:TXNM) Reaches New 52-Week Low – Here’s Why

TXNM Energy, Inc. (NYSE:TXNM)’s stock price 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 trading hands. The stock had previously closed at $56.72.

Analysts Set New Price Targets

A number of research firms have recently commented on TXNM. Weiss Ratings restated a “hold (c)” rating on shares of TXNM Energy in a report on Friday, May 29th. Wall Street Zen upgraded TXNM Energy from a “sell” rating to a “hold” rating in a research note on Saturday, June 27th. Three research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, TXNM Energy currently has a consensus rating of “Hold” and a consensus price target of $61.25.

TXNM Energy Stock Down 0.7%

The firm’s 50 day simple moving average is $58.49 and its 200 day simple moving average is $58.77. 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 company has a market cap of $6.23 billion, a price-to-earnings ratio of 40.53, a price-to-earnings-growth ratio of 2.45 and a beta of 0.16.

TXNM Energy (NYSE:TXNM) last released its quarterly earnings results on Friday, May 1st. The company reported $0.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.30 by ($0.09). The business had revenue of $504.98 million during the quarter, compared to the consensus estimate of $506.24 million. TXNM Energy had a return on equity of 7.18% and a net margin of 6.96%.The company’s revenue for the quarter was up 4.6% compared to the same quarter last year. During the same period in the previous year, the company posted $0.19 EPS. Sell-side analysts anticipate that TXNM Energy, Inc. will post 3.07 EPS for the current fiscal year.

TXNM Energy Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th will be issued a dividend of $1.145 per share. The ex-dividend date of this dividend is Tuesday, June 30th. This is an increase from TXNM Energy’s previous quarterly dividend of $0.42. This represents a $4.58 dividend on an annualized basis and a yield of 8.1%. TXNM Energy’s dividend payout ratio is presently 121.58%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Pacer Advisors Inc. raised its position in shares of TXNM Energy by 25.7% during the first quarter. Pacer Advisors Inc. now owns 14,471 shares of the company’s stock worth $846,000 after purchasing an additional 2,955 shares during the period. Empowered Funds LLC increased its stake in shares of TXNM Energy by 12.9% in the first quarter. Empowered Funds LLC now owns 4,208 shares of the company’s stock worth $246,000 after acquiring an additional 481 shares during the last quarter. Groupe la Francaise raised its stake in shares of TXNM Energy by 161.2% during the 1st quarter. Groupe la Francaise now owns 311,832 shares of the company’s stock worth $18,230,000 after purchasing an additional 192,446 shares in the last quarter. Bank of America Corp DE raised its position in TXNM Energy by 9.9% during the first quarter. Bank of America Corp DE now owns 305,595 shares of the company’s stock valued at $17,865,000 after acquiring an additional 27,601 shares in the last quarter. Finally, Amundi lifted its stake in shares of TXNM Energy by 20.8% in the 1st quarter. Amundi now owns 6,579 shares of the company’s stock valued at $385,000 after purchasing an additional 1,133 shares during the last quarter. 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.