TXNM Energy (NYSE:TXNM) Shares Gap Up - Here's What Happened

Shares of TXNM Energy, Inc. (NYSE:TXNM - Get Free Report) gapped up before the market opened on Tuesday . The stock had previously closed at $47.87, but opened at $53.74. TXNM Energy shares last traded at $51.56, with a volume of 500,544 shares.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on TXNM shares. Evercore ISI upgraded shares of TXNM Energy from an "in-line" rating to an "outperform" rating and upped their price target for the company from $51.00 to $54.00 in a report on Tuesday, February 11th. Scotiabank increased their target price on TXNM Energy from $52.00 to $55.00 and gave the stock a "sector perform" rating in a report on Monday, February 24th. Mizuho upgraded TXNM Energy from a "neutral" rating to an "outperform" rating and set a $53.00 price target on the stock in a report on Tuesday. Citigroup lifted their target price on TXNM Energy from $45.00 to $53.00 and gave the company a "neutral" rating in a research report on Thursday, December 12th. Finally, Wells Fargo & Company lifted their price objective on shares of TXNM Energy from $49.00 to $53.00 and gave the company an "overweight" rating in a report on Tuesday, November 26th. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $53.43.

TXNM Energy Stock Up 7.4 %

The company has a quick ratio of 0.27, a current ratio of 0.36 and a debt-to-equity ratio of 1.80. The firm has a 50 day simple moving average of $49.11 and a 200-day simple moving average of $46.43. The stock has a market cap of $4.76 billion, a P/E ratio of 26.72, a price-to-earnings-growth ratio of 6.12 and a beta of 0.32.

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TXNM Energy (NYSE:TXNM - Get Free Report) last released its quarterly earnings data on Friday, February 21st. The company reported $0.30 EPS for the quarter, meeting the consensus estimate of $0.30. The firm had revenue of $476.96 million for 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%. On average, equities research analysts forecast that TXNM Energy, Inc. will post 2.73 earnings per share for the current fiscal year.

TXNM Energy Dividend Announcement

The company 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 3.17%. The ex-dividend date of this dividend is Friday, April 25th. TXNM Energy's payout ratio is 61.05%.

Institutional Trading of TXNM Energy

Several hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. bought a new position in TXNM Energy during the 4th quarter worth $497,880,000. T. Rowe Price Investment Management Inc. acquired a new position in shares of TXNM Energy during the 4th quarter worth $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. bought a new position in TXNM Energy in the fourth quarter valued at about $189,170,000. Finally, Zimmer Partners LP acquired a new position in TXNM Energy during the fourth quarter worth about $165,816,000. 91.68% of the stock is owned by institutional investors and hedge funds.

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.

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