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

TXNM Energy, Inc. (NYSE:TXNM - Get Free Report) shares reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $57.30 and last traded at $57.28, with a volume of 681074 shares trading hands. The stock had previously closed at $56.85.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on TXNM. Scotiabank boosted their price objective on TXNM Energy from $55.00 to $60.00 and gave the company a "sector perform" rating in a research report on Tuesday, May 20th. Siebert Williams Shank lowered TXNM Energy from a "strong-buy" rating to a "hold" rating in a research report on Friday, May 23rd. Wall Street Zen cut TXNM Energy from a "hold" rating to a "sell" rating in a research note on Thursday, May 22nd. Barclays reaffirmed an "overweight" rating and set a $61.00 price objective (up previously from $57.00) on shares of TXNM Energy in a report on Wednesday, May 21st. Finally, Mizuho cut TXNM Energy from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, May 20th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $54.86.

TXNM Energy Stock Up 0.9%

The business has a 50 day simple moving average of $56.17 and a 200 day simple moving average of $52.74. The company has a debt-to-equity ratio of 1.80, a current ratio of 0.29 and a quick ratio of 0.19. The stock has a market cap of $5.31 billion, a PE ratio of 22.56, a P/E/G ratio of 2.69 and a beta of 0.13.

TXNM Energy (NYSE:TXNM - Get Free Report) last released its quarterly earnings results on Friday, May 9th. The company reported $0.19 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.20 by ($0.01). TXNM Energy had a return on equity of 9.09% and a net margin of 10.13%. The company had revenue of $482.79 million for the quarter, compared to the consensus estimate of $451.01 million. The company's revenue was up 10.5% on a year-over-year basis. On average, equities research analysts forecast that TXNM Energy, Inc. will post 2.73 EPS for the current fiscal year.

Hedge Funds Weigh In On TXNM Energy

Several institutional investors have recently bought and sold shares of the business. Hughes Financial Services LLC acquired a new position in TXNM Energy during the first quarter worth $25,000. Bessemer Group Inc. acquired a new stake in shares of TXNM Energy in the 4th quarter valued at $27,000. Versant Capital Management Inc bought a new position in shares of TXNM Energy in the 1st quarter valued at $35,000. Aster Capital Management DIFC Ltd acquired a new position in TXNM Energy during the 4th quarter worth about $38,000. Finally, LRI Investments LLC acquired a new position in TXNM Energy during the 4th quarter worth about $40,000. Institutional investors own 91.68% of the company's stock.

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.

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