TXNM Energy (NYSE:TXNM) Hits New 52-Week High Following Analyst Upgrade

TXNM Energy, Inc. (NYSE:TXNM) reached a new 52-week high during mid-day 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.

TXNM has been the topic of several other reports. Citigroup boosted their price target on TXNM Energy from $45.00 to $53.00 and gave the stock a “neutral” rating in a report on Thursday, December 12th. Evercore ISI upgraded shares of TXNM Energy from an “in-line” rating to an “outperform” rating and raised their price target for the stock from $51.00 to $54.00 in a report on Tuesday, February 11th. 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 research report on Tuesday, March 11th. Scotiabank boosted their price objective on TXNM Energy from $52.00 to $55.00 and gave the company a “sector perform” rating in a report on Monday, February 24th. Finally, Wells Fargo & Company raised their price objective 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 equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $53.57.

Institutional Investors Weigh In On TXNM Energy

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Bessemer Group Inc. bought a new position in TXNM Energy in the 4th quarter worth $27,000. Aster Capital Management DIFC Ltd purchased a new stake in shares of TXNM Energy during the 4th quarter valued at about $38,000. LRI Investments LLC bought a new position in shares of TXNM Energy in the 4th quarter valued at about $40,000. Nomura Asset Management Co. Ltd. bought a new stake in TXNM Energy during the fourth quarter worth approximately $48,000. Finally, NewEdge Advisors LLC purchased a new stake in TXNM Energy during the fourth quarter valued at approximately $53,000. Hedge funds and other institutional investors own 91.68% of the company’s stock.

TXNM Energy Stock Performance

The firm has a market capitalization of $5.00 billion, a PE ratio of 28.12, 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 current ratio of 0.36 and a quick ratio of 0.27. The business has a 50-day simple moving average of $49.44 and a 200-day simple moving average of $46.82.

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, hitting analysts’ consensus estimates of $0.30. TXNM Energy had a return on equity of 9.69% and a net margin of 9.26%. The company had revenue of $476.96 million during the quarter, compared to the consensus estimate of $496.05 million. Equities research analysts expect that TXNM Energy, Inc. will post 2.73 earnings per share for the current fiscal year.

TXNM Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 16th. Stockholders of record on Friday, April 25th will be paid a dividend of $0.4075 per share. The ex-dividend date of this dividend is Friday, April 25th. This represents a $1.63 dividend on an annualized basis and a dividend yield of 3.02%. TXNM Energy’s dividend payout ratio is 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.