TXNM Energy (NYSE:TXNM) Hits New 1-Year High - Should You Buy?

Shares of TXNM Energy, Inc. (NYSE:TXNM - Get Free Report) reached a new 52-week high during mid-day trading on Thursday . The stock traded as high as $51.25 and last traded at $51.19, with a volume of 36784 shares changing hands. The stock had previously closed at $50.97.

Analyst Upgrades and Downgrades

TXNM has been the subject of a number of recent analyst reports. Evercore ISI upgraded TXNM Energy from an "in-line" rating to an "outperform" rating and upped their price objective for the company from $51.00 to $54.00 in a research note on Tuesday, February 11th. Wells Fargo & Company raised their price objective on shares of TXNM Energy from $49.00 to $53.00 and gave the stock an "overweight" rating in a report on Tuesday, November 26th. Scotiabank boosted their target price on shares of TXNM Energy from $46.00 to $52.00 and gave the company a "sector perform" rating in a research note on Thursday, December 12th. Barclays raised their price target on shares of TXNM Energy from $46.00 to $52.00 and gave the stock an "overweight" rating in a research note on Friday, November 29th. Finally, Citigroup upped their price objective on TXNM Energy from $45.00 to $53.00 and gave the company a "neutral" rating in a research note on Thursday, December 12th. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, TXNM Energy has a consensus rating of "Moderate Buy" and an average target price of $52.33.

TXNM Energy Price Performance

The business's 50-day moving average price is $48.53 and its 200 day moving average price is $45.52. The company has a market capitalization of $4.79 billion, a P/E ratio of 27.65, a price-to-earnings-growth ratio of 6.07 and a beta of 0.40. The company has a quick ratio of 0.27, a current ratio of 0.36 and a debt-to-equity ratio of 1.80.

TXNM Energy (NYSE:TXNM - Get Free Report) last released its quarterly earnings results on Friday, February 21st. The company reported $0.30 EPS for the quarter, meeting analysts' consensus estimates of $0.30. TXNM Energy had a net margin of 9.26% and a return on equity of 9.69%. Analysts anticipate that TXNM Energy, Inc. will post 2.73 EPS for the current fiscal year.

TXNM Energy Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Friday, January 31st were paid a $0.4075 dividend. This is a positive change from TXNM Energy's previous quarterly dividend of $0.39. This represents a $1.63 dividend on an annualized basis and a yield of 3.07%. The ex-dividend date of this dividend was Friday, January 31st. TXNM Energy's dividend payout ratio is currently 84.90%.

Institutional Inflows and Outflows

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

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.