TXNM Energy (NYSE:TXNM) Reaches New 12-Month High – Here’s What Happened
by Teresa Graham · The Cerbat GemTXNM Energy, Inc. (NYSE:TXNM – Get Free Report)’s share price reached a new 52-week high on Tuesday . The company traded as high as $59.14 and last traded at $59.1260, with a volume of 313812 shares changing hands. The stock had previously closed at $58.96.
Analyst Upgrades and Downgrades
A number of equities analysts have recently commented on TXNM shares. Jefferies Financial Group lowered TXNM Energy from a “buy” rating to a “hold” rating and raised their price target for the stock from $58.00 to $61.25 in a report on Monday, October 27th. Weiss Ratings restated a “hold (c+)” rating on shares of TXNM Energy in a research note on Monday, December 29th. Finally, Citigroup began coverage on TXNM Energy in a research report on Thursday, October 9th. They set a “neutral” rating and a $61.25 price target on the stock. Two research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat, TXNM Energy currently has an average rating of “Hold” and an average price target of $58.42.
Read Our Latest Report on TXNM
TXNM Energy Trading Up 0.1%
The stock has a market cap of $6.43 billion, a PE ratio of 34.51, a PEG ratio of 2.52 and a beta of 0.17. The company has a current ratio of 0.51, a quick ratio of 0.36 and a debt-to-equity ratio of 1.35. The firm has a fifty day simple moving average of $58.13 and a two-hundred day simple moving average of $57.23.
TXNM Energy (NYSE:TXNM – Get Free Report) last posted its quarterly earnings data on Friday, October 31st. The company reported $1.33 earnings per share for the quarter, missing the consensus estimate of $1.44 by ($0.11). The company had revenue of $647.16 million during the quarter, compared to the consensus estimate of $608.65 million. TXNM Energy had a return on equity of 7.20% and a net margin of 8.67%.During the same quarter last year, the company posted $1.43 earnings per share. As a group, equities analysts expect that TXNM Energy, Inc. will post 2.73 earnings per share for the current fiscal year.
TXNM Energy Increases Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 13th. Stockholders of record on Friday, January 30th will be given a dividend of $0.4225 per share. This is an increase 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 dividend yield of 2.9%. TXNM Energy’s dividend payout ratio is 95.32%.
Insider Transactions at TXNM Energy
In related news, Director Vicky A. Bailey sold 1,800 shares of the stock in a transaction on Friday, November 14th. The stock was sold at an average price of $57.74, for a total value of $103,932.00. Following the transaction, the director owned 8,725 shares of the company’s stock, valued at $503,781.50. This represents a 17.10% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 1.36% of the company’s stock.
Institutional Investors Weigh In On TXNM Energy
Several institutional investors have recently bought and sold shares of TXNM. Cape Investment Advisory Inc. purchased a new stake in shares of TXNM Energy during the second quarter valued at approximately $28,000. Huntington National Bank boosted its position in TXNM Energy by 1,307.0% during the 2nd quarter. Huntington National Bank now owns 605 shares of the company’s stock valued at $34,000 after buying an additional 562 shares during the period. Smartleaf Asset Management LLC grew its holdings in TXNM Energy by 280.0% in the 3rd quarter. Smartleaf Asset Management LLC now owns 1,026 shares of the company’s stock worth $58,000 after acquiring an additional 756 shares during the last quarter. MorganRosel Wealth Management LLC bought a new position in shares of TXNM Energy during the second quarter valued at about $67,000. Finally, Jones Financial Companies Lllp increased its holdings in TXNM Energy by 574.0% during the 3rd quarter. Jones Financial Companies Lllp now owns 1,294 shares of the company’s stock valued at $73,000 after purchasing an additional 1,102 shares during the period. 91.68% of the stock is currently 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.