TXNM Energy (NYSE:TXNM) Hits New 52-Week High – Here’s What Happened

TXNM Energy, Inc. (NYSE:TXNM)’s share price hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $46.63 and last traded at $46.63, with a volume of 18780 shares. The stock had previously closed at $46.30.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on TXNM. Jefferies Financial Group started coverage on TXNM Energy in a research note on Wednesday, October 2nd. They issued a “buy” rating and a $50.00 target price on the stock. Wells Fargo & Company raised their price target on TXNM Energy from $46.00 to $49.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 16th. Barclays upped their price objective on shares of TXNM Energy from $45.00 to $46.00 and gave the stock an “overweight” rating in a report on Tuesday, October 15th. Finally, Scotiabank started coverage on shares of TXNM Energy in a research report on Thursday, October 10th. They set a “sector perform” rating and a $46.00 price target on the stock.

TXNM Energy Stock Performance

The company’s 50-day moving average price is $43.55. The firm has a market capitalization of $4.23 billion, a PE ratio of 24.11, a PEG ratio of 6.71 and a beta of 0.36. The company has a current ratio of 0.36, a quick ratio of 0.27 and a debt-to-equity ratio of 1.80.

TXNM Energy (NYSE:TXNM) last issued its quarterly earnings data on Friday, November 1st. The company reported $1.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.41 by $0.02. The business had revenue of $569.30 million for the quarter, compared to analysts’ expectations of $588.88 million. TXNM Energy had a return on equity of 9.69% and a net margin of 9.26%. The company’s revenue for the quarter was up 12.5% on a year-over-year basis. During the same period in the prior year, the firm earned $1.54 EPS. On average, sell-side analysts anticipate that TXNM Energy, Inc. will post 2.72 earnings per share for the current fiscal year.

TXNM Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 8th. Shareholders of record on Monday, October 28th were issued a dividend of $0.3875 per share. The ex-dividend date of this dividend was Monday, October 28th. This represents a $1.55 annualized dividend and a yield of 3.30%. TXNM Energy’s payout ratio is currently 80.73%.

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.