TXNM Energy (NYSE:TXNM) Sets New 1-Year High – Should You Buy?

TXNM Energy, Inc. (NYSE:TXNM)’s share price hit a new 52-week high during mid-day trading on Monday . The company traded as high as $57.94 and last traded at $57.9150, with a volume of 68924 shares changing hands. The stock had previously closed at $57.84.

Analyst Ratings Changes

A number of brokerages recently commented on TXNM. Weiss Ratings reiterated a “buy (b-)” rating on shares of TXNM Energy in a research report on Tuesday, November 11th. Citigroup assumed coverage on TXNM Energy in a research note on Thursday, October 9th. They set a “neutral” rating and a $61.25 price objective on the stock. Finally, Jefferies Financial Group lowered TXNM Energy from a “buy” rating to a “hold” rating and boosted their target price for the company from $58.00 to $61.25 in a research note on Monday, October 27th. Four research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $57.64.

TXNM Energy Price Performance

The company has a debt-to-equity ratio of 1.49, a current ratio of 0.51 and a quick ratio of 0.36. The business has a 50 day moving average of $56.93 and a 200 day moving average of $56.44. The company has a market cap of $6.31 billion, a PE ratio of 29.86, a price-to-earnings-growth ratio of 2.69 and a beta of 0.13.

TXNM Energy (NYSE:TXNM) last announced its quarterly earnings results on Friday, October 31st. The company reported $1.33 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.44 by ($0.11). TXNM Energy had a net margin of 8.75% and a return on equity of 7.34%. The company had revenue of $647.16 million for the quarter, compared to analysts’ expectations of $608.65 million. During the same quarter in the prior year, the firm earned $1.43 EPS. As a group, research analysts predict that TXNM Energy, Inc. will post 2.73 EPS for the current year.

TXNM Energy Dividend Announcement

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

Institutional Investors Weigh In On TXNM Energy

Several hedge funds have recently bought and sold shares of TXNM. Lido Advisors LLC purchased a new stake in TXNM Energy in the third quarter worth about $287,000. Lighthouse Investment Partners LLC grew its stake in shares of TXNM Energy by 34.3% in the 3rd quarter. Lighthouse Investment Partners LLC now owns 79,183 shares of the company’s stock worth $4,478,000 after buying an additional 20,235 shares during the last quarter. Citadel Advisors LLC increased its position in TXNM Energy by 19,952.4% during the 3rd quarter. Citadel Advisors LLC now owns 1,007,033 shares of the company’s stock valued at $56,948,000 after buying an additional 1,002,011 shares in the last quarter. Brevan Howard Capital Management LP purchased a new position in TXNM Energy during the third quarter valued at $3,300,000. Finally, Centiva Capital LP raised its stake in TXNM Energy by 6.5% during the third quarter. Centiva Capital LP now owns 225,000 shares of the company’s stock valued at $12,724,000 after buying an additional 13,780 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.