TXNM Energy (NYSE:TXNM) Reaches New 12-Month High Following Analyst Upgrade

Shares of TXNM Energy, Inc. (NYSE:TXNM) reached a new 52-week high during trading on Tuesday after Barclays raised their price target on the stock from $56.00 to $57.00. Barclays currently has an overweight rating on the stock. TXNM Energy traded as high as $55.50 and last traded at $54.08, with a volume of 914979 shares changing hands. The stock had previously closed at $52.82.

Several other research firms have also commented on TXNM. Evercore ISI upgraded shares of TXNM Energy from an “in-line” rating to an “outperform” rating and raised their price target for the company from $51.00 to $54.00 in a research report on Tuesday, February 11th. Wells Fargo & Company increased their price objective on shares of TXNM Energy from $49.00 to $53.00 and gave the company an “overweight” rating in a report on Tuesday, November 26th. Mizuho raised shares of TXNM Energy from a “neutral” rating to an “outperform” rating and set a $53.00 price objective on the stock in a report on Tuesday, March 11th. Citigroup increased their price objective on shares of TXNM Energy from $45.00 to $53.00 and gave the company a “neutral” rating in a report on Thursday, December 12th. Finally, Scotiabank increased their price objective on shares of TXNM Energy from $52.00 to $55.00 and gave the company a “sector perform” rating in a report on Monday, February 24th. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, TXNM Energy currently has an average rating of “Moderate Buy” and a consensus price target of $53.57.

Hedge Funds Weigh In On TXNM Energy

Several hedge funds and other institutional investors have recently modified their holdings of TXNM. Vanguard Group Inc. purchased a new position in shares of TXNM Energy in the fourth quarter worth about $497,880,000. T. Rowe Price Investment Management Inc. purchased a new position in TXNM Energy during the fourth quarter worth about $303,744,000. FMR LLC purchased a new position in TXNM Energy during the fourth quarter worth about $191,594,000. Fuller & Thaler Asset Management Inc. purchased a new position in TXNM Energy during the fourth quarter worth about $189,170,000. Finally, Zimmer Partners LP purchased a new position in TXNM Energy during the fourth quarter worth about $165,816,000. 91.68% of the stock is owned by hedge funds and other institutional investors.

TXNM Energy Stock Up 0.1 %

The company has a debt-to-equity ratio of 1.80, a current ratio of 0.36 and a quick ratio of 0.27. The business’s 50 day simple moving average is $49.73 and its 200 day simple moving average is $46.97. The company has a market capitalization of $5.05 billion, a PE ratio of 28.37, a P/E/G ratio of 6.12 and a beta of 0.32.

TXNM Energy (NYSE:TXNM) last issued its earnings results on Friday, February 21st. The company reported $0.30 EPS for the quarter, hitting analysts’ consensus estimates of $0.30. TXNM Energy had a net margin of 9.26% and a return on equity of 9.69%. The company had revenue of $476.96 million for the quarter, compared to the consensus estimate of $496.05 million. As a group, analysts anticipate that TXNM Energy, Inc. will post 2.73 earnings per share for the current fiscal year.

TXNM Energy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 16th. Shareholders of record on Friday, April 25th will be given a dividend of $0.4075 per share. This represents a $1.63 dividend on an annualized basis and a dividend yield of 2.99%. The ex-dividend date of this dividend is Friday, April 25th. TXNM Energy’s dividend payout ratio is presently 61.05%.

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.