TXNM Energy, Inc. (NYSE:TXNM) Receives $58.42 Average PT from Analysts

Shares of TXNM Energy, Inc. (NYSE:TXNM) have earned a consensus recommendation of “Hold” from the eight analysts that are covering the company, Marketbeat Ratings reports. Six analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $58.4167.

A number of research analysts have recently commented on the company. Citigroup assumed coverage on TXNM Energy in a report on Thursday, October 9th. They issued a “neutral” rating and a $61.25 price objective on the stock. Weiss Ratings reissued a “hold (c+)” rating on shares of TXNM Energy in a report on Monday, December 29th. Finally, Jefferies Financial Group downgraded shares of TXNM Energy from a “buy” rating to a “hold” rating and boosted their price objective for the stock from $58.00 to $61.25 in a research report on Monday, October 27th.

TXNM Energy Stock Up 0.1%

Shares of NYSE:TXNM opened at $59.01 on Friday. The company has a quick ratio of 0.36, a current ratio of 0.51 and a debt-to-equity ratio of 1.35. TXNM Energy has a fifty-two week low of $46.62 and a fifty-two week high of $59.20. The stock has a market cap of $6.43 billion, a price-to-earnings ratio of 34.51, a price-to-earnings-growth ratio of 2.52 and a beta of 0.17. The firm’s 50 day moving average price is $58.40 and its 200 day moving average price is $57.34.

TXNM Energy (NYSE:TXNM) last announced its quarterly earnings data on Friday, October 31st. The company reported $1.33 EPS for the quarter, missing analysts’ consensus estimates of $1.44 by ($0.11). TXNM Energy had a net margin of 8.67% and a return on equity of 7.20%. The firm had revenue of $647.16 million during the quarter, compared to analysts’ expectations of $608.65 million. During the same period in the prior year, the company posted $1.43 earnings per share. As a group, equities research analysts predict that TXNM Energy will post 2.73 earnings per share for the current fiscal year.

TXNM Energy Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, February 13th. Investors of record on Friday, January 30th will be given a $0.4225 dividend. This represents a $1.69 dividend on an annualized basis and a yield of 2.9%. This is a boost from TXNM Energy’s previous quarterly dividend of $0.41. The ex-dividend date of this dividend is Friday, January 30th. TXNM Energy’s dividend payout ratio is presently 95.32%.

Insider Transactions at TXNM Energy

In other TXNM Energy news, Director Vicky A. Bailey sold 1,800 shares of the firm’s stock in a transaction dated Friday, November 14th. The stock was sold at an average price of $57.74, for a total transaction of $103,932.00. Following the transaction, the director owned 8,725 shares of the company’s stock, valued at approximately $503,781.50. This trade represents a 17.10% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.36% of the stock is owned by corporate insiders.

Institutional Trading of TXNM Energy

Several institutional investors and hedge funds have recently made changes to their positions in TXNM. Credit Industriel ET Commercial acquired a new position in TXNM Energy during the second quarter worth $676,000. Intech Investment Management LLC lifted its holdings in TXNM Energy by 16.0% in the first quarter. Intech Investment Management LLC now owns 50,390 shares of the company’s stock valued at $2,695,000 after acquiring an additional 6,943 shares during the period. Inspire Investing LLC purchased a new stake in shares of TXNM Energy during the 1st quarter worth $516,000. BCK Capital Management LP acquired a new position in shares of TXNM Energy during the 2nd quarter worth $2,090,000. Finally, Ceredex Value Advisors LLC purchased a new stake in shares of TXNM Energy during the 2nd quarter worth approximately $7,426,000. 91.68% of the stock is owned by hedge funds and other institutional investors.

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. The segment owns and leases communications, office and other equipment, office space, vehicles, and real estate. It generates electricity using coal, natural gas and oil, and nuclear fuel and waste, as well as solar, wind, geothermal, and battery storage energy sources.