TXNM Energy (NYSE:TXNM) Reaches New 52-Week High – Here’s What Happened

Shares of TXNM Energy, Inc. (NYSE:TXNM) hit a new 52-week high during trading on Tuesday . The stock traded as high as $59.08 and last traded at $59.0610, with a volume of 142262 shares. The stock had previously closed at $58.93.

Analyst Ratings Changes

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

TXNM Energy Price Performance

The company has a 50 day moving average of $57.82 and a 200 day moving average of $57.10. The company has a debt-to-equity ratio of 1.35, a quick ratio of 0.36 and a current ratio of 0.51. The stock has a market capitalization of $6.42 billion, a price-to-earnings ratio of 34.47, a PEG ratio of 2.79 and a beta of 0.16.

TXNM Energy (NYSE:TXNM) last announced its quarterly earnings data 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 8.67% and a return on equity of 7.20%. The company had revenue of $647.16 million during the quarter, compared to analysts’ expectations of $608.65 million. During the same quarter in the previous year, the business posted $1.43 EPS. As a group, equities research analysts anticipate that TXNM Energy, Inc. will post 2.73 EPS for the current 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 issued a dividend of $0.4225 per share. This is a boost from TXNM Energy’s previous quarterly dividend of $0.41. The ex-dividend date is Friday, January 30th. This represents a $1.69 annualized dividend and a yield of 2.9%. TXNM Energy’s dividend payout ratio (DPR) is presently 95.32%.

Insider Buying and Selling at TXNM Energy

In other news, Director Vicky A. Bailey sold 1,800 shares of the firm’s stock in a transaction on Friday, November 14th. The shares were sold at an average price of $57.74, for a total value of $103,932.00. Following the sale, the director directly owned 8,725 shares in the company, valued at approximately $503,781.50. This trade represents a 17.10% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 1.28% of the company’s stock.

Institutional Investors Weigh In On TXNM Energy

Institutional investors and hedge funds have recently bought and sold shares of the stock. Cape Investment Advisory Inc. purchased a new position in shares of TXNM Energy during the second quarter worth about $28,000. Huntington National Bank grew its stake in TXNM Energy by 1,307.0% during the 2nd quarter. Huntington National Bank now owns 605 shares of the company’s stock worth $34,000 after buying an additional 562 shares during the last quarter. Smartleaf Asset Management LLC purchased a new position in TXNM Energy during the 1st quarter worth approximately $43,000. Twin Tree Management LP acquired a new position in TXNM Energy during the first quarter worth approximately $58,000. Finally, MorganRosel Wealth Management LLC purchased a new stake in TXNM Energy in the second quarter valued at approximately $67,000. 91.68% of the stock is owned by hedge funds and other institutional investors.

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.