TXNM Energy (NYSE:TXNM) Sees Unusually-High Trading Volume – What’s Next?

TXNM Energy, Inc. (NYSE:TXNM) shares saw unusually-high trading volume on Tuesday . Approximately 933,264 shares were traded during mid-day trading, a decline of 27% from the previous session’s volume of 1,283,955 shares.The stock last traded at $57.5160 and had previously closed at $57.61.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. Weiss Ratings raised shares of TXNM Energy from a “hold (c)” rating to a “hold (c+)” rating in a research report on Monday, August 3rd. Wall Street Zen upgraded shares of TXNM Energy from a “sell” rating to a “hold” rating in a research report on Saturday, August 8th. Three equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $61.25.

TXNM Energy Stock Performance

The company has a market capitalization of $5.98 billion, a price-to-earnings ratio of 32.09, a P/E/G ratio of 2.53 and a beta of 0.17. The company has a 50 day moving average price of $57.43 and a 200 day moving average price of $58.28. The company has a debt-to-equity ratio of 1.44, a quick ratio of 0.39 and a current ratio of 0.56.

TXNM Energy (NYSE:TXNM) last posted its quarterly earnings results on Friday, July 31st. The company reported $0.58 earnings per share for the quarter, topping analysts’ consensus estimates of $0.56 by $0.02. TXNM Energy had a return on equity of 8.11% and a net margin of 9.04%.The business had revenue of $548.55 million for the quarter, compared to the consensus estimate of $567.00 million. Equities research analysts predict that TXNM Energy, Inc. will post 3.03 earnings per share for the current fiscal year.

TXNM Energy Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 14th. Stockholders of record on Monday, August 3rd were given a dividend of $0.4225 per share. This represents a $1.69 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date of this dividend was Monday, August 3rd. TXNM Energy’s dividend payout ratio is presently 93.37%.

Institutional Trading of TXNM Energy

Hedge funds have recently bought and sold shares of the business. Athos Capital Ltd acquired a new position in shares of TXNM Energy during the second quarter valued at about $8,948,000. Credit Industriel ET Commercial lifted its position in TXNM Energy by 19.3% in the 4th quarter. Credit Industriel ET Commercial now owns 125,274 shares of the company’s stock valued at $7,376,000 after acquiring an additional 20,274 shares in the last quarter. Bank of America Corp DE boosted its stake in TXNM Energy by 9.9% during the 1st quarter. Bank of America Corp DE now owns 305,595 shares of the company’s stock valued at $17,865,000 after purchasing an additional 27,601 shares during the last quarter. Pentwater Capital Management LP bought a new stake in TXNM Energy during the 2nd quarter worth approximately $368,360,000. Finally, Deutsche Bank AG bought a new stake in TXNM Energy during the 2nd quarter worth approximately $6,367,000. 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.