TXNM Energy (NYSE:TXNM) Sets New 1-Year High – Time to Buy?

TXNM Energy, Inc. (NYSE:TXNM)’s share price hit a new 52-week high during trading on Tuesday . The stock traded as high as $59.23 and last traded at $59.2160, with a volume of 57273 shares changing hands. The stock had previously closed at $59.16.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Weiss Ratings reiterated a “hold (c+)” rating on shares of TXNM Energy in a report on Monday, December 29th. Jefferies Financial Group downgraded shares of TXNM Energy from a “buy” rating to a “hold” rating and raised their target price for the company from $58.00 to $61.25 in a research note on Monday, October 27th. Finally, Citigroup started 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 analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat, TXNM Energy currently has a consensus rating of “Hold” and a consensus price target of $58.42.

TXNM Energy Trading Up 0.2%

The firm has a market cap of $6.46 billion, a PE ratio of 34.65, a price-to-earnings-growth ratio of 2.53 and a beta of 0.17. The company has a 50-day simple moving average of $58.54 and a 200 day simple moving average of $57.42. The company has a current ratio of 0.51, a quick ratio of 0.36 and a debt-to-equity ratio of 1.35.

TXNM Energy (NYSE:TXNM) last posted its earnings results 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 firm had revenue of $647.16 million during the quarter, compared to analyst estimates of $608.65 million. During the same quarter in the prior year, the firm earned $1.43 earnings per share. As a group, sell-side analysts forecast that TXNM Energy, Inc. will post 2.73 earnings per share for the current fiscal year.

TXNM Energy Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, February 13th. Stockholders of record on Friday, January 30th will be paid a dividend of $0.4225 per share. This represents a $1.69 annualized dividend and a dividend yield of 2.9%. The ex-dividend date of this dividend is Friday, January 30th. This is an increase from TXNM Energy’s previous quarterly dividend of $0.41. TXNM Energy’s dividend payout ratio is currently 95.32%.

Insider Buying and Selling at TXNM Energy

In related news, Director Vicky A. Bailey sold 1,800 shares of TXNM Energy stock in a transaction dated Friday, November 14th. The stock was sold at an average price of $57.74, for a total value of $103,932.00. Following the completion of the transaction, the director owned 8,725 shares in the company, valued at $503,781.50. The trade was a 17.10% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 1.36% of the stock is currently owned by corporate insiders.

Institutional Trading of TXNM Energy

Institutional investors and hedge funds have recently made changes to their positions in the business. Balyasny Asset Management L.P. lifted its position in shares of TXNM Energy by 344.9% during the 3rd quarter. Balyasny Asset Management L.P. now owns 4,042,301 shares of the company’s stock valued at $228,592,000 after buying an additional 3,133,794 shares in the last quarter. Norges Bank purchased a new position in shares of TXNM Energy in the second quarter valued at approximately $99,354,000. Vanguard Group Inc. boosted its stake in shares of TXNM Energy by 16.0% in the third quarter. Vanguard Group Inc. now owns 11,568,926 shares of the company’s stock worth $654,223,000 after acquiring an additional 1,598,954 shares during the last quarter. Citadel Advisors LLC increased its position in shares of TXNM Energy by 19,952.4% during the third quarter. Citadel Advisors LLC now owns 1,007,033 shares of the company’s stock worth $56,948,000 after purchasing an additional 1,002,011 shares in the last quarter. Finally, LMR Partners LLP acquired a new position in TXNM Energy in the 2nd quarter valued at $48,291,000. 91.68% of the stock is currently owned by hedge funds and other institutional investors.

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. 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.