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

TXNM Energy, Inc. (NYSE:TXNM)’s stock price reached a new 52-week high during trading on Friday . The stock traded as high as $58.30 and last traded at $58.2550, with a volume of 64586 shares traded. The stock had previously closed at $58.15.

Wall Street Analyst Weigh In

TXNM has been the topic of several research analyst reports. Citigroup started 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 on the stock. Jefferies Financial Group downgraded TXNM Energy from a “buy” rating to a “hold” rating and upped their target price for the stock from $58.00 to $61.25 in a report on Monday, October 27th. Finally, Weiss Ratings cut TXNM Energy from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Monday. Two investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $58.42.

TXNM Energy Trading Up 0.4%

The stock’s fifty day simple moving average is $57.15 and its two-hundred day simple moving average is $56.71. The firm has a market cap of $6.36 billion, a PE ratio of 30.07, a PEG ratio of 2.69 and a beta of 0.13. The company has a quick ratio of 0.36, a current ratio of 0.51 and a debt-to-equity ratio of 1.49.

TXNM Energy (NYSE:TXNM) last issued 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 return on equity of 7.34% and a net margin of 8.75%.The company had revenue of $647.16 million during the quarter, compared to the consensus estimate of $608.65 million. During the same period in the prior year, the firm earned $1.43 earnings per share. On average, sell-side analysts forecast that TXNM Energy, Inc. will post 2.73 EPS for the current fiscal year.

TXNM Energy Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, November 14th. Stockholders of record on Friday, October 24th were paid a $0.4075 dividend. This represents a $1.63 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date of this dividend was Friday, October 24th. TXNM Energy’s dividend payout ratio is currently 95.32%.

Insider Activity

In related 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 value of $103,932.00. Following the transaction, the director owned 8,725 shares in the company, valued at $503,781.50. The trade was a 17.10% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.28% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. increased its position in shares of TXNM Energy by 16.0% during the third quarter. Vanguard Group Inc. now owns 11,568,926 shares of the company’s stock valued at $654,223,000 after acquiring an additional 1,598,954 shares in the last quarter. Balyasny Asset Management L.P. increased its holdings in shares of TXNM Energy by 344.9% in the 3rd quarter. Balyasny Asset Management L.P. now owns 4,042,301 shares of the company’s stock worth $228,592,000 after purchasing an additional 3,133,794 shares in the last quarter. Alliancebernstein L.P. raised its stake in shares of TXNM Energy by 41.4% in the first quarter. Alliancebernstein L.P. now owns 3,560,321 shares of the company’s stock worth $190,406,000 after purchasing an additional 1,043,259 shares during the last quarter. Reaves W H & Co. Inc. bought a new position in shares of TXNM Energy during the first quarter valued at $161,678,000. Finally, Geode Capital Management LLC boosted its position in shares of TXNM Energy by 2.9% during the second quarter. Geode Capital Management LLC now owns 2,275,324 shares of the company’s stock valued at $128,169,000 after buying an additional 63,240 shares during the last quarter. Institutional investors own 91.68% of the company’s stock.

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.