TXNM Energy (NYSE:TXNM) Sees Strong Trading Volume Following Analyst Upgrade

TXNM Energy, Inc. (NYSE:TXNM) shares saw unusually-strong trading volume on Tuesday after Scotiabank raised their price target on the stock from $55.00 to $60.00. Scotiabank currently has a sector perform rating on the stock. Approximately 1,169,509 shares were traded during mid-day trading, an increase of 28% from the previous session’s volume of 913,533 shares.The stock last traded at $56.47 and had previously closed at $56.57.

Several other research firms also recently commented on TXNM. Evercore ISI upgraded shares of TXNM Energy from an “in-line” rating to an “outperform” rating and upped their price target for the company from $51.00 to $54.00 in a research note on Tuesday, February 11th. Mizuho upgraded shares of TXNM Energy from a “neutral” rating to an “outperform” rating and set a $53.00 price target on the stock in a research note on Tuesday, March 11th. Finally, Barclays upped their price target on shares of TXNM Energy from $56.00 to $57.00 and gave the company an “overweight” rating in a research note on Tuesday, March 18th. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $54.29.

Institutional Investors Weigh In On TXNM Energy

Several institutional investors and hedge funds have recently bought and sold shares of TXNM. Hughes Financial Services LLC bought a new stake in TXNM Energy during the first quarter worth about $25,000. Bessemer Group Inc. bought a new stake in TXNM Energy during the fourth quarter worth about $27,000. Versant Capital Management Inc bought a new stake in TXNM Energy during the first quarter worth about $35,000. Aster Capital Management DIFC Ltd bought a new stake in TXNM Energy during the fourth quarter worth about $38,000. Finally, LRI Investments LLC bought a new stake in TXNM Energy during the fourth quarter worth about $40,000. Institutional investors own 91.68% of the company’s stock.

TXNM Energy Price Performance

The company’s 50-day moving average is $52.98 and its two-hundred day moving average is $50.11. 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 firm has a market cap of $5.23 billion, a P/E ratio of 29.39, a PEG ratio of 6.12 and a beta of 0.11.

TXNM Energy (NYSE:TXNM) last posted its quarterly earnings data on Friday, May 9th. The company reported $0.19 earnings per share for the quarter, missing the consensus estimate of $0.20 by ($0.01). TXNM Energy had a return on equity of 9.69% and a net margin of 9.26%. The firm had revenue of $482.79 million for the quarter, compared to the consensus estimate of $451.01 million. The firm’s revenue for the quarter was up 10.5% compared to the same quarter last year. Sell-side analysts anticipate that TXNM Energy, Inc. will post 2.73 EPS for the current fiscal year.

TXNM Energy Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, May 16th. Stockholders of record on Friday, April 25th were issued a $0.4075 dividend. The ex-dividend date of this dividend was Friday, April 25th. This represents a $1.63 dividend on an annualized basis and a dividend yield of 2.89%. TXNM Energy’s dividend payout ratio (DPR) is currently 72.44%.

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.