TXNM Energy (NYSE:TXNM) Sets New 12-Month High - Still a Buy?

TXNM Energy, Inc. (NYSE:TXNM - Get Free Report)'s stock price reached a new 52-week high during trading on Friday . The company traded as high as $51.00 and last traded at $50.95, with a volume of 57834 shares trading hands. The stock had previously closed at $50.02.

Wall Street Analyst Weigh In

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

TXNM Energy Trading Up 0.3 %

The stock has a market capitalization of $4.54 billion, a PE ratio of 26.24, a PEG ratio of 5.91 and a beta of 0.40. The stock has a 50 day moving average of $48.38. The company has a debt-to-equity ratio of 1.80, a current ratio of 0.36 and a quick ratio of 0.27.

TXNM Energy Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Friday, January 31st were issued a $0.4075 dividend. This represents a $1.63 dividend on an annualized basis and a dividend yield of 3.24%. The ex-dividend date was Friday, January 31st. This is a positive change from TXNM Energy's previous quarterly dividend of $0.39. TXNM Energy's dividend payout ratio (DPR) is 84.90%.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the company. Vanguard Group Inc. purchased a new stake in TXNM Energy during the fourth quarter valued at about $497,880,000. T. Rowe Price Investment Management Inc. acquired a new stake in TXNM Energy during the 4th quarter worth approximately $303,744,000. FMR LLC purchased a new position in TXNM Energy in the fourth quarter valued at approximately $191,594,000. Fuller & Thaler Asset Management Inc. acquired a new position in TXNM Energy during the fourth quarter valued at approximately $189,170,000. Finally, Zimmer Partners LP acquired a new position in TXNM Energy during the fourth quarter valued at approximately $165,816,000. 91.68% of the stock is owned by hedge funds and other 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.