TXNM Energy (NYSE:TXNM) Sets New 12-Month Low – Here’s What Happened

TXNM Energy, Inc. (NYSE:TXNM)’s share price hit a new 52-week low on Thursday . The company traded as low as $55.64 and last traded at $56.1690, with a volume of 4535325 shares. The stock had previously closed at $56.72.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on TXNM. Wall Street Zen raised TXNM Energy from a “sell” rating to a “hold” rating in a research report on Saturday, June 27th. Weiss Ratings reiterated a “hold (c)” rating on shares of TXNM Energy in a research note on Friday, May 29th. Three equities research analysts have rated the stock with a Hold rating, According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $61.25.

TXNM Energy Price Performance

The stock has a 50-day simple moving average of $58.49 and a 200 day simple moving average of $58.77. The company has a debt-to-equity ratio of 1.46, a quick ratio of 0.36 and a current ratio of 0.55. The stock has a market capitalization of $6.23 billion, a P/E ratio of 40.53, a price-to-earnings-growth ratio of 2.45 and a beta of 0.16.

TXNM Energy (NYSE:TXNM) last released its earnings results on Friday, May 1st. The company reported $0.21 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.09). TXNM Energy had a net margin of 6.96% and a return on equity of 7.18%. The business had revenue of $504.98 million for the quarter, compared to analyst estimates of $506.24 million. During the same quarter in the previous year, the company posted $0.19 earnings per share. The business’s revenue for the quarter was up 4.6% on a year-over-year basis. On average, equities analysts forecast that TXNM Energy, Inc. will post 3.07 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 Wednesday, July 15th. Investors of record on Tuesday, June 30th will be issued a $1.145 dividend. This is a boost from TXNM Energy’s previous quarterly dividend of $0.42. This represents a $4.58 dividend on an annualized basis and a yield of 8.1%. The ex-dividend date is Tuesday, June 30th. TXNM Energy’s dividend payout ratio is currently 121.58%.

Hedge Funds Weigh In On TXNM Energy

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Public Employees Retirement System of Ohio boosted its stake in TXNM Energy by 4.9% in the 1st quarter. Public Employees Retirement System of Ohio now owns 3,787 shares of the company’s stock worth $221,000 after purchasing an additional 176 shares during the period. EverSource Wealth Advisors LLC boosted its position in TXNM Energy by 17.1% during the 1st quarter. EverSource Wealth Advisors LLC now owns 1,257 shares of the company’s stock worth $73,000 after acquiring an additional 184 shares during the last quarter. Federated Hermes Inc. boosted its position in TXNM Energy by 3.3% during the 2nd quarter. Federated Hermes Inc. now owns 6,314 shares of the company’s stock worth $356,000 after acquiring an additional 199 shares during the last quarter. Bank of Montreal Can increased its stake in TXNM Energy by 1.4% in the 4th quarter. Bank of Montreal Can now owns 15,804 shares of the company’s stock valued at $931,000 after buying an additional 219 shares during the last quarter. Finally, PNC Financial Services Group Inc. increased its position in shares of TXNM Energy by 3.6% in the first quarter. PNC Financial Services Group Inc. now owns 6,368 shares of the company’s stock valued at $372,000 after acquiring an additional 223 shares during the last quarter. 91.68% of the stock is owned by 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.