TXNM Energy (NYSE:TXNM) Reaches New 12-Month High – Here’s Why

by · The Cerbat Gem

Shares of TXNM Energy, Inc. (NYSE:TXNM – Get Free Report) hit a new 52-week high during trading on Tuesday . The company traded as high as $45.92 and last traded at $45.92, with a volume of 55010 shares trading hands. The stock had previously closed at $45.37.

Wall Street Analyst Weigh In

TXNM has been the subject of several recent analyst reports. Jefferies Financial Group started coverage on TXNM Energy in a report on Wednesday, October 2nd. They issued a “buy” rating and a $50.00 price objective for the company. Scotiabank began coverage on TXNM Energy in a report on Thursday, October 10th. They set a “sector perform” rating and a $46.00 price target on the stock. Barclays increased their price target on TXNM Energy from $45.00 to $46.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 15th. Finally, Wells Fargo & Company raised their price objective on TXNM Energy from $46.00 to $49.00 and gave the company an “overweight” rating in a report on Wednesday, October 16th.

View Our Latest Stock Report on TXNM

TXNM Energy Stock Performance

The company has a debt-to-equity ratio of 1.80, a quick ratio of 0.37 and a current ratio of 0.36. The company has a market cap of $4.13 billion, a price-to-earnings ratio of 23.81, a price-to-earnings-growth ratio of 6.48 and a beta of 0.36. The firm’s 50 day moving average price is $43.19.

TXNM Energy (NYSE:TXNM – Get Free Report) last announced its quarterly earnings results on Friday, November 1st. The company reported $1.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.41 by $0.02. The firm had revenue of $569.30 million during the quarter, compared to the consensus estimate of $588.88 million. TXNM Energy had a net margin of 9.26% and a return on equity of 9.69%. The firm’s quarterly revenue was up 12.5% on a year-over-year basis. During the same period last year, the firm posted $1.54 EPS. On average, analysts forecast that TXNM Energy, Inc. will post 2.72 earnings per share for the current fiscal year.

TXNM Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 8th. Shareholders of record on Monday, October 28th were issued a dividend of $0.3875 per share. This represents a $1.55 dividend on an annualized basis and a yield of 3.39%. The ex-dividend date was Monday, October 28th. TXNM Energy’s dividend payout ratio is 80.73%.

About TXNM Energy

(Get Free Report)

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.

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