TXNM Energy (NYSE:TXNM) Hits New 1-Year High – Still a Buy?

TXNM Energy, Inc. (NYSE:TXNM) shares hit a new 52-week high on Friday . The company traded as high as $45.88 and last traded at $44.87, with a volume of 78625 shares trading hands. The stock had previously closed at $43.54.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on TXNM shares. Wells Fargo & Company boosted their price objective on shares of TXNM Energy from $46.00 to $49.00 and gave the company an “overweight” rating in a research note on Wednesday, October 16th. Scotiabank began coverage on TXNM Energy in a research report on Thursday, October 10th. They set a “sector perform” rating and a $46.00 price target for the company. Jefferies Financial Group began coverage on TXNM Energy in a research note on Wednesday, October 2nd. They set a “buy” rating and a $50.00 price target for the company. Finally, Barclays lifted their price objective on TXNM Energy from $45.00 to $46.00 and gave the company an “overweight” rating in a research note on Tuesday, October 15th.

TXNM Energy Stock Performance

The company’s fifty day simple moving average is $42.78. The company has a debt-to-equity ratio of 1.88, a quick ratio of 0.37 and a current ratio of 0.47. The firm has a market cap of $3.81 billion, a price-to-earnings ratio of 46.46, a price-to-earnings-growth ratio of 6.33 and a beta of 0.36.

TXNM Energy (NYSE:TXNM) last issued its quarterly earnings data on Friday, November 1st. The company reported $1.43 EPS for the quarter, hitting analysts’ consensus estimates of $1.43. TXNM Energy had a return on equity of 10.15% and a net margin of 4.50%. The company had revenue of $569.30 million for the quarter, compared to analysts’ expectations of $588.88 million. During the same quarter in the previous year, the firm posted $1.54 earnings per share. The firm’s quarterly revenue was up 12.5% on a year-over-year basis. As a group, analysts forecast that TXNM Energy, Inc. will post 2.71 earnings per share for the current fiscal year.

TXNM Energy Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 8th. Shareholders of record on Monday, October 28th will be issued a $0.3875 dividend. This represents a $1.55 dividend on an annualized basis and a yield of 3.67%. The ex-dividend date of this dividend is Monday, October 28th. TXNM Energy’s dividend payout ratio is presently 170.33%.

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.