TXNM Energy (NYSE:TXNM) Reaches New 1-Year High Following Analyst Upgrade

TXNM Energy, Inc. (NYSE:TXNM - Get Free Report) shares hit a new 52-week high on Tuesday after Barclays raised their price target on the stock from $56.00 to $57.00. Barclays currently has an overweight rating on the stock. TXNM Energy traded as high as $55.50 and last traded at $54.08, with a volume of 914979 shares. The stock had previously closed at $52.82.

TXNM has been the subject of several other reports. Evercore ISI raised shares of TXNM Energy from an "in-line" rating to an "outperform" rating and increased their price target for the stock from $51.00 to $54.00 in a report on Tuesday, February 11th. Citigroup increased their price target on shares of TXNM Energy from $45.00 to $53.00 and gave the stock a "neutral" rating in a report on Thursday, December 12th. Scotiabank increased their price target on shares of TXNM Energy from $52.00 to $55.00 and gave the stock a "sector perform" rating in a report on Monday, February 24th. Mizuho raised shares of TXNM Energy from a "neutral" rating to an "outperform" rating and set a $53.00 price target for the company in a report on Tuesday, March 11th. Finally, Wells Fargo & Company increased their price target 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. Two analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, TXNM Energy has a consensus rating of "Moderate Buy" and a consensus target price of $53.57.

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Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Xponance Inc. acquired a new position in shares of TXNM Energy in the 4th quarter valued at $625,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS purchased a new stake in TXNM Energy during the 4th quarter worth $8,369,000. Sei Investments Co. purchased a new stake in TXNM Energy during the 4th quarter worth $9,270,000. LPL Financial LLC bought a new stake in shares of TXNM Energy in the 4th quarter worth about $470,000. Finally, Vanguard Group Inc. bought a new stake in shares of TXNM Energy in the 4th quarter worth about $497,880,000. 91.68% of the stock is owned by hedge funds and other institutional investors.

TXNM Energy Price Performance

The company's 50-day moving average price is $50.02 and its two-hundred day moving average price is $47.11. The company has a market cap of $5.01 billion, a P/E ratio of 28.16, a P/E/G ratio of 6.12 and a beta of 0.32. 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 - Get Free Report) last released its earnings results on Friday, February 21st. The company reported $0.30 earnings per share for the quarter, hitting the consensus estimate of $0.30. The company had revenue of $476.96 million during the quarter, compared to the consensus estimate of $496.05 million. TXNM Energy had a net margin of 9.26% and a return on equity of 9.69%. As a group, sell-side analysts expect that TXNM Energy, Inc. will post 2.73 earnings per share for the current year.

TXNM Energy Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, May 16th. Stockholders of record on Friday, April 25th will be given a $0.4075 dividend. This represents a $1.63 annualized dividend and a dividend yield of 3.02%. The ex-dividend date is Friday, April 25th. TXNM Energy's payout ratio is currently 61.05%.

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.