TXNM Energy (NYSE:TXNM) Sets New 52-Week High – Still a Buy?

Shares of TXNM Energy, Inc. (NYSE:TXNM) hit a new 52-week high on Monday . The company traded as high as $49.25 and last traded at $49.21, with a volume of 2255 shares changing hands. The stock had previously closed at $48.79.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on TXNM shares. Scotiabank assumed coverage on TXNM Energy in a report on Thursday, October 10th. They set a “sector perform” rating and a $46.00 price target for the company. Wells Fargo & Company increased their target price on shares of TXNM Energy from $49.00 to $53.00 and gave the stock an “overweight” rating in a report on Tuesday. Jefferies Financial Group started coverage on shares of TXNM Energy in a research note on Wednesday, October 2nd. They issued a “buy” rating and a $50.00 price objective for the company. Finally, Barclays boosted their target price on shares of TXNM Energy from $45.00 to $46.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 15th.

TXNM Energy Price Performance

The company has a market cap of $4.36 billion, a price-to-earnings ratio of 25.16, a price-to-earnings-growth ratio of 7.14 and a beta of 0.36. The company has a debt-to-equity ratio of 1.80, a current ratio of 0.36 and a quick ratio of 0.27. The stock’s fifty day simple moving average is $44.44.

TXNM Energy (NYSE:TXNM) last issued its quarterly earnings results on Friday, November 1st. The company reported $1.43 earnings per share for the quarter, beating the consensus estimate of $1.41 by $0.02. The company had revenue of $569.30 million during the quarter, compared to analysts’ expectations of $588.88 million. TXNM Energy had a return on equity of 9.69% and a net margin of 9.26%. The business’s quarterly revenue was up 12.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.54 earnings per share. On average, research analysts forecast that TXNM Energy, Inc. will post 2.72 EPS for the current year.

TXNM Energy Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, November 8th. Stockholders of record on Monday, October 28th were given a $0.3875 dividend. The ex-dividend date was Monday, October 28th. This represents a $1.55 dividend on an annualized basis and a dividend yield of 3.21%. TXNM Energy’s dividend payout ratio (DPR) is currently 80.73%.

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.