TXNM Energy (NYSE:TXNM) Reaches New 12-Month High – Here’s Why

Shares of TXNM Energy, Inc. (NYSE:TXNM) hit a new 52-week high during trading on Tuesday . The company traded as high as $45.92 and last traded at $45.92, with a volume of 55010 shares trading hands. The stock had previously closed at $45.37.

Wall Street Analyst Weigh In

TXNM has been the subject of several recent analyst reports. Jefferies Financial Group started coverage on TXNM Energy in a report on Wednesday, October 2nd. They issued a “buy” rating and a $50.00 price objective for the company. Scotiabank began coverage on TXNM Energy in a report on Thursday, October 10th. They set a “sector perform” rating and a $46.00 price target on the stock. Barclays increased their price target on TXNM Energy from $45.00 to $46.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 15th. Finally, Wells Fargo & Company raised their price objective on TXNM Energy from $46.00 to $49.00 and gave the company an “overweight” rating in a report on Wednesday, October 16th.

TXNM Energy Stock Performance

The company has a debt-to-equity ratio of 1.80, a quick ratio of 0.37 and a current ratio of 0.36. The company has a market cap of $4.13 billion, a price-to-earnings ratio of 23.81, a price-to-earnings-growth ratio of 6.48 and a beta of 0.36. The firm’s 50 day moving average price is $43.19.

TXNM Energy (NYSE:TXNM) last announced its quarterly 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 firm had revenue of $569.30 million during the quarter, compared to the consensus estimate of $588.88 million. TXNM Energy had a net margin of 9.26% and a return on equity of 9.69%. The firm’s quarterly revenue was up 12.5% on a year-over-year basis. During the same period last year, the firm posted $1.54 EPS. On average, analysts forecast that TXNM Energy, Inc. will post 2.72 earnings per share for the current fiscal year.

TXNM Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 8th. Shareholders of record on Monday, October 28th were issued a dividend of $0.3875 per share. This represents a $1.55 dividend on an annualized basis and a yield of 3.39%. The ex-dividend date was Monday, October 28th. TXNM Energy’s dividend payout ratio is 80.73%.

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.