TXNM Energy (NYSE:TXNM) Hits New 12-Month High – What’s Next?

TXNM Energy, Inc. (NYSE:TXNM)’s share price reached a new 52-week high on Tuesday . The company traded as high as $59.23 and last traded at $59.2160, with a volume of 57273 shares traded. The stock had previously closed at $59.16.

Analyst Upgrades and Downgrades

Several research firms have issued reports on TXNM. Jefferies Financial Group lowered TXNM Energy from a “buy” rating to a “hold” rating and increased their price objective for the stock from $58.00 to $61.25 in a research note on Monday, October 27th. Citigroup initiated coverage on TXNM Energy in a report on Thursday, October 9th. They set a “neutral” rating and a $61.25 price objective on the stock. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of TXNM Energy in a research note on Monday, December 29th. Two research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat, TXNM Energy currently has a consensus rating of “Hold” and a consensus target price of $58.42.

TXNM Energy Stock Down 0.0%

The stock has a market cap of $6.46 billion, a price-to-earnings ratio of 28.65, a PEG ratio of 2.53 and a beta of 0.17. 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 50 day simple moving average of $58.64 and a 200 day simple moving average of $57.47.

TXNM Energy (NYSE:TXNM) last posted its quarterly earnings data on Friday, October 31st. The company reported $1.33 earnings per share for the quarter, missing the consensus estimate of $1.44 by ($0.11). The business had revenue of $647.16 million during the quarter, compared to analysts’ expectations of $608.65 million. TXNM Energy had a return on equity of 7.20% and a net margin of 8.67%.During the same period in the prior year, the firm posted $1.43 EPS. As a group, analysts expect that TXNM Energy, Inc. will post 2.73 earnings per share for the current fiscal year.

TXNM Energy Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, February 13th. Shareholders of record on Friday, January 30th will be given a dividend of $0.4225 per share. This represents a $1.69 annualized dividend and a yield of 2.9%. The ex-dividend date of this dividend is Friday, January 30th. This is an increase from TXNM Energy’s previous quarterly dividend of $0.41. TXNM Energy’s dividend payout ratio is currently 95.32%.

Insider Buying and Selling at TXNM Energy

In other TXNM Energy news, Director Vicky A. Bailey sold 1,800 shares of TXNM Energy 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 completion of the transaction, the director directly owned 8,725 shares of the company’s stock, valued at approximately $503,781.50. The trade was a 17.10% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 1.28% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in TXNM. Credit Industriel ET Commercial bought a new stake in shares of TXNM Energy during the 2nd quarter valued at $676,000. BCK Capital Management LP bought a new stake in shares of TXNM Energy in the 2nd quarter valued at $2,090,000. Ceredex Value Advisors LLC acquired a new stake in TXNM Energy in the second quarter valued at approximately $7,426,000. Alberta Investment Management Corp bought a new stake in shares of TXNM Energy during the second quarter worth about $28,160,000. Finally, Vanguard Personalized Indexing Management LLC lifted its stake in TXNM Energy by 13.7% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 10,920 shares of the company’s stock valued at $615,000 after acquiring an additional 1,312 shares in the last quarter. Hedge funds and other 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. 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.