TXNM Energy (NYSE:TXNM) Shares Gap Up – What’s Next?

TXNM Energy, Inc. (NYSE:TXNM)’s share price gapped up before the market opened on Tuesday . The stock had previously closed at $47.87, but opened at $53.74. TXNM Energy shares last traded at $51.56, with a volume of 500,544 shares trading hands.

Wall Street Analysts Forecast Growth

TXNM has been the subject of a number of research reports. Scotiabank increased their price target on TXNM Energy from $52.00 to $55.00 and gave the company a “sector perform” rating in a research note on Monday, February 24th. Barclays lifted their target price on TXNM Energy from $49.00 to $56.00 and gave the stock an “overweight” rating in a report on Tuesday, March 4th. Evercore ISI upgraded TXNM Energy from an “in-line” rating to an “outperform” rating and lifted their target price for the stock from $51.00 to $54.00 in a report on Tuesday, February 11th. Wells Fargo & Company lifted their target price on TXNM Energy from $49.00 to $53.00 and gave the stock an “overweight” rating in a report on Tuesday, November 26th. Finally, Mizuho upgraded TXNM Energy from a “neutral” rating to an “outperform” rating and set a $53.00 target price for the company in a report on Tuesday. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $53.43.

TXNM Energy Trading Up 0.1 %

The stock has a fifty day moving average of $49.19 and a 200-day moving average of $46.54. The company has a debt-to-equity ratio of 1.80, a quick ratio of 0.27 and a current ratio of 0.36. The company has a market cap of $4.75 billion, a PE ratio of 26.67, a PEG ratio of 6.12 and a beta of 0.32.

TXNM Energy (NYSE:TXNM) last posted its quarterly earnings data on Friday, February 21st. The company reported $0.30 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.30. The company had revenue of $476.96 million during the quarter, compared to analysts’ expectations of $496.05 million. TXNM Energy had a return on equity of 9.69% and a net margin of 9.26%. Sell-side analysts anticipate that TXNM Energy, Inc. will post 2.73 EPS for the current fiscal year.

TXNM Energy Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, May 16th. Shareholders of record on Friday, April 25th will be given a dividend of $0.4075 per share. This represents a $1.63 dividend on an annualized basis and a yield of 3.18%. The ex-dividend date is Friday, April 25th. TXNM Energy’s dividend payout ratio (DPR) is presently 61.05%.

Institutional Investors Weigh In On TXNM Energy

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. bought a new stake in TXNM Energy during the 4th quarter valued at $497,880,000. T. Rowe Price Investment Management Inc. bought a new position in shares of TXNM Energy in the 4th quarter worth $303,744,000. FMR LLC bought a new position in shares of TXNM Energy in the 4th quarter worth $191,594,000. Fuller & Thaler Asset Management Inc. bought a new position in shares of TXNM Energy in the 4th quarter worth $189,170,000. Finally, Zimmer Partners LP bought a new position in shares of TXNM Energy in the 4th quarter worth $165,816,000. 91.68% of the stock is owned by 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.