TXNM Energy (NYSE:TXNM) Hits New 1-Year High - What's Next?

TXNM Energy, Inc. (NYSE:TXNM - Get Free Report)'s stock price hit a new 52-week high during mid-day trading on Monday . The company traded as high as $56.50 and last traded at $53.75, with a volume of 431772 shares. The stock had previously closed at $52.89.

Wall Street Analyst Weigh In

TXNM has been the topic of a number of analyst reports. Mizuho raised TXNM Energy from a "neutral" rating to an "outperform" rating and set a $53.00 price target on the stock in a research report on Tuesday, March 11th. Barclays raised their target price on TXNM Energy from $56.00 to $57.00 and gave the company an "overweight" rating in a report on Tuesday, March 18th. Evercore ISI raised TXNM Energy from an "in-line" rating to an "outperform" rating and raised their target price for the company from $51.00 to $54.00 in a report on Tuesday, February 11th. Finally, Scotiabank raised their target price on TXNM Energy from $52.00 to $55.00 and gave the company a "sector perform" rating in a report on Monday, February 24th. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, TXNM Energy presently has an average rating of "Moderate Buy" and an average price target of $53.57.

TXNM Energy Stock Performance

The stock has a fifty day simple moving average of $52.77 and a two-hundred day simple moving average of $49.88. The stock has a market cap of $4.89 billion, a price-to-earnings ratio of 27.50, a P/E/G ratio of 6.12 and a beta of 0.11. The company has a debt-to-equity ratio of 1.80, a quick ratio of 0.27 and a current ratio of 0.36.

TXNM Energy (NYSE:TXNM - Get Free Report) last released its quarterly earnings data on Friday, May 9th. The company reported $0.19 earnings per share for the quarter, missing the consensus estimate of $0.20 by ($0.01). TXNM Energy had a net margin of 9.26% and a return on equity of 9.69%. The firm had revenue of $482.79 million for the quarter, compared to analyst estimates of $451.01 million. TXNM Energy's revenue for the quarter was up 10.5% on a year-over-year basis. Analysts expect that TXNM Energy, Inc. will post 2.73 EPS for the current fiscal year.

TXNM Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 16th. Investors of record on Friday, April 25th were issued a dividend of $0.4075 per share. This represents a $1.63 annualized dividend and a dividend yield of 3.09%. The ex-dividend date was Friday, April 25th. TXNM Energy's dividend payout ratio (DPR) is 72.44%.

Institutional Investors Weigh In On TXNM Energy

Several hedge funds have recently modified their holdings of the company. Empowered Funds LLC acquired a new stake in shares of TXNM Energy during the 1st quarter valued at $547,000. United Services Automobile Association acquired a new stake in shares of TXNM Energy during the 1st quarter valued at $310,000. Resolution Capital Ltd boosted its holdings in shares of TXNM Energy by 17.4% during the 1st quarter. Resolution Capital Ltd now owns 145,954 shares of the company's stock valued at $7,806,000 after acquiring an additional 21,621 shares in the last quarter. Nexpoint Asset Management L.P. boosted its holdings in shares of TXNM Energy by 108.3% during the 1st quarter. Nexpoint Asset Management L.P. now owns 16,350 shares of the company's stock valued at $874,000 after acquiring an additional 8,500 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of TXNM Energy by 12.1% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 63,758 shares of the company's stock valued at $3,410,000 after acquiring an additional 6,857 shares in the last quarter. Institutional investors and hedge funds own 91.68% of the company's stock.

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.