TXNM Energy (NYSE:TXNM) Hits New 1-Year High – Here’s What Happened

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

Analysts Set New Price Targets

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

TXNM Energy Stock Performance

The business’s 50 day simple moving average is $48.47 and its two-hundred day simple moving average is $45.48. The firm has a market capitalization of $4.63 billion, a PE ratio of 26.76, a price-to-earnings-growth ratio of 6.00 and a beta of 0.40. 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 Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Friday, January 31st were given a dividend of $0.4075 per share. This represents a $1.63 dividend on an annualized basis and a yield of 3.18%. The ex-dividend date was Friday, January 31st. This is a boost from TXNM Energy’s previous quarterly dividend of $0.39. TXNM Energy’s dividend payout ratio is 84.90%.

Institutional Inflows and Outflows

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