TXNM Energy (NYSE:TXNM) Shares Gap Up – Still a Buy?

TXNM Energy, Inc. (NYSE:TXNM) gapped up before the market opened on Tuesday . The stock had previously closed at $47.87, but opened at $53.74. TXNM Energy shares last traded at $51.56, with a volume of 500,544 shares.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. Scotiabank increased their price target on TXNM Energy from $52.00 to $55.00 and gave the company a “sector perform” rating in a research note on Monday, February 24th. Citigroup increased their target price on TXNM Energy from $45.00 to $53.00 and gave the company a “neutral” rating in a research report on Thursday, December 12th. Mizuho upgraded TXNM Energy from a “neutral” rating to an “outperform” rating and set a $53.00 price target on the stock in a report on Tuesday. Evercore ISI upgraded shares of TXNM Energy from an “in-line” rating to an “outperform” rating and raised their price objective for the company from $51.00 to $54.00 in a report on Tuesday, February 11th. Finally, Wells Fargo & Company boosted their target price on shares of TXNM Energy from $49.00 to $53.00 and gave the stock an “overweight” rating in a report on Tuesday, November 26th. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $53.43.

TXNM Energy Stock Performance

The stock has a market capitalization of $4.76 billion, a price-to-earnings ratio of 26.72, a P/E/G ratio of 6.12 and a beta of 0.32. The company has a debt-to-equity ratio of 1.80, a quick ratio of 0.27 and a current ratio of 0.36. The stock has a fifty day simple moving average of $49.11 and a two-hundred day simple moving average of $46.43.

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

TXNM Energy Dividend Announcement

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 issued a $0.4075 dividend. This represents a $1.63 dividend on an annualized basis and a yield of 3.17%. The ex-dividend date is Friday, April 25th. TXNM Energy’s payout ratio is 61.05%.

Hedge Funds Weigh In On TXNM Energy

Several institutional investors have recently made changes to their positions in TXNM. Bessemer Group Inc. acquired a new stake in shares of TXNM Energy in the 4th quarter valued at about $27,000. Aster Capital Management DIFC Ltd bought a new stake in shares of TXNM Energy during the fourth quarter valued at approximately $38,000. LRI Investments LLC bought a new stake in shares of TXNM Energy during the fourth quarter valued at approximately $40,000. Nomura Asset Management Co. Ltd. acquired a new position in shares of TXNM Energy during the fourth quarter worth approximately $48,000. Finally, NewEdge Advisors LLC bought a new position in shares of TXNM Energy in the 4th quarter worth $53,000. 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.