TXNM Energy (NYSE:TXNM) Reaches New 52-Week High After Analyst Upgrade

TXNM Energy, Inc. (NYSE:TXNM) shares hit a new 52-week high 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.

Several other research analysts have also recently issued reports on TXNM. Scotiabank raised their target price on shares of TXNM Energy from $52.00 to $55.00 and gave the stock a “sector perform” rating in a report on Monday, February 24th. Mizuho raised TXNM Energy from a “neutral” rating to an “outperform” rating and set a $53.00 price objective for the company in a research report on Tuesday, March 11th. Citigroup boosted their target price on shares of TXNM Energy from $45.00 to $53.00 and gave the stock a “neutral” rating in a research note on Thursday, December 12th. Wells Fargo & Company lifted their price target on TXNM Energy from $49.00 to $53.00 and gave the stock an “overweight” rating in a report on Tuesday, November 26th. Finally, Evercore ISI raised TXNM Energy from an “in-line” rating to an “outperform” rating and upped their price objective for the stock from $51.00 to $54.00 in a research report on Tuesday, February 11th. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, TXNM Energy has an average rating of “Moderate Buy” and a consensus target price of $53.57.

Hedge Funds Weigh In On TXNM Energy

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

TXNM Energy Stock Up 2.2 %

The company has a market capitalization of $5.00 billion, a P/E ratio of 28.12, a P/E/G ratio of 6.12 and a beta of 0.32. The business’s fifty day moving average price is $49.44 and its 200 day moving average price is $46.82. The company has a current ratio of 0.36, a quick ratio of 0.27 and a debt-to-equity ratio of 1.80.

TXNM Energy (NYSE:TXNM) last announced its earnings results on Friday, February 21st. The company reported $0.30 EPS for the quarter, hitting the consensus estimate 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 for the quarter, compared to analysts’ expectations of $496.05 million. As a group, equities research analysts predict that TXNM Energy, Inc. will post 2.73 earnings per share for the current fiscal year.

TXNM Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 16th. Investors of record on Friday, April 25th will be issued a $0.4075 dividend. The ex-dividend date is Friday, April 25th. This represents a $1.63 dividend on an annualized basis and a yield of 3.02%. TXNM Energy’s dividend payout ratio is presently 61.05%.

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.