TXNM Energy (NYSE:TXNM) Hits New 52-Week High - What's Next?

TXNM Energy, Inc. (NYSE:TXNM - Get Free Report)'s stock price reached a new 52-week high on Friday . The stock traded as high as $45.88 and last traded at $44.87, with a volume of 78625 shares traded. The stock had previously closed at $43.54.

Wall Street Analyst Weigh In

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

TXNM Energy Trading Down 2.9 %

The company's 50-day moving average is $42.75. The firm has a market cap of $3.81 billion, a PE ratio of 47.85, a PEG ratio of 6.24 and a beta of 0.36. The company has a current ratio of 0.47, a quick ratio of 0.37 and a debt-to-equity ratio of 1.88.

TXNM Energy (NYSE:TXNM - Get Free Report) last issued its quarterly earnings results on Friday, November 1st. The company reported $1.43 earnings per share for the quarter, meeting analysts' consensus estimates of $1.43. TXNM Energy had a net margin of 4.50% and a return on equity of 10.15%. The firm had revenue of $569.30 million for the quarter, compared to analyst estimates of $588.88 million. During the same period last year, the company posted $1.54 EPS. TXNM Energy's quarterly revenue was up 12.5% compared to the same quarter last year. Equities analysts expect that TXNM Energy, Inc. will post 2.71 earnings per share for the current year.

TXNM Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 8th. Stockholders of record on Monday, October 28th will be given a $0.3875 dividend. This represents a $1.55 dividend on an annualized basis and a dividend yield of 3.67%. The ex-dividend date is Monday, October 28th. TXNM Energy's dividend payout ratio (DPR) is 170.33%.

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.