TXNM Energy (NYSE:TXNM) Sets New 12-Month High – Time to Buy?

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

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. Jefferies Financial Group began coverage on shares of TXNM Energy in a report on Wednesday, October 2nd. They set a “buy” rating and a $50.00 price objective on the stock. Scotiabank started coverage on TXNM Energy in a research note on Thursday, October 10th. They set a “sector perform” rating and a $46.00 price target on the stock. Wells Fargo & Company raised 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. Finally, Barclays upped their target price on TXNM Energy from $45.00 to $46.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 15th.

TXNM Energy Stock Performance

The company has a current ratio of 0.36, a quick ratio of 0.27 and a debt-to-equity ratio of 1.80. The business’s 50 day moving average price is $44.44. 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.

TXNM Energy (NYSE:TXNM) last announced its earnings results on Friday, November 1st. The company reported $1.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.41 by $0.02. The company had revenue of $569.30 million for 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%. TXNM Energy’s quarterly revenue was up 12.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.54 earnings per share. As a group, research analysts anticipate that TXNM Energy, Inc. will post 2.72 earnings per share for the current year.

TXNM Energy Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, November 8th. Investors of record on Monday, October 28th were issued a dividend of $0.3875 per share. This represents a $1.55 annualized dividend and a yield of 3.21%. The ex-dividend date of this dividend was Monday, October 28th. TXNM Energy’s dividend payout ratio (DPR) is presently 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.