TXNM Energy (NYSE:TXNM) Sees Large Volume Increase After Analyst Upgrade

Shares of TXNM Energy, Inc. (NYSE:TXNM) saw an uptick in trading volume on Monday after Wall Street Zen upgraded the stock to a hold rating. 2,805,202 shares changed hands during mid-day trading, an increase of 332% from the previous session’s volume of 648,663 shares.The stock last traded at $59.2250 and had previously closed at $59.24.

A number of other analysts also recently issued reports on TXNM. Jefferies Financial Group downgraded shares of TXNM Energy from a “buy” rating to a “hold” rating and lifted their price objective for the company from $58.00 to $61.25 in a report on Monday, October 27th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of TXNM Energy in a research report on Monday, December 29th. Finally, Citigroup started coverage on shares of TXNM Energy in a research report on Thursday, October 9th. They set a “neutral” rating and a $61.25 price target on the stock. Two equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $58.42.

Insider Activity at TXNM Energy

In other news, Director Vicky A. Bailey sold 1,800 shares of the company’s stock in a transaction dated Friday, November 14th. The shares were sold at an average price of $57.74, for a total value of $103,932.00. Following the sale, the director directly owned 8,725 shares of the company’s stock, valued at approximately $503,781.50. This represents a 17.10% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.36% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On TXNM Energy

Several hedge funds have recently added to or reduced their stakes in the business. Empowered Funds LLC acquired a new stake in TXNM Energy during the first quarter worth approximately $547,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in TXNM Energy by 12.4% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 297,350 shares of the company’s stock worth $15,902,000 after purchasing an additional 32,776 shares during the last quarter. Wealth Enhancement Advisory Services LLC boosted its stake in TXNM Energy by 17.9% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 10,535 shares of the company’s stock valued at $593,000 after purchasing an additional 1,600 shares during the period. Inspire Investing LLC boosted its stake in TXNM Energy by 5.0% in the 2nd quarter. Inspire Investing LLC now owns 10,128 shares of the company’s stock valued at $570,000 after purchasing an additional 481 shares during the period. Finally, Vanguard Personalized Indexing Management LLC grew its holdings in TXNM Energy by 13.7% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 10,920 shares of the company’s stock valued at $615,000 after buying an additional 1,312 shares in the last quarter. Institutional investors and hedge funds own 91.68% of the company’s stock.

TXNM Energy Stock Down 0.1%

The company has a current ratio of 0.51, a quick ratio of 0.36 and a debt-to-equity ratio of 1.35. The stock has a market cap of $6.45 billion, a P/E ratio of 34.62, a PEG ratio of 2.53 and a beta of 0.17. The firm has a 50-day simple moving average of $58.69 and a two-hundred day simple moving average of $57.52.

TXNM Energy (NYSE:TXNM) last released its quarterly earnings results on Friday, October 31st. The company reported $1.33 EPS for the quarter, missing the consensus estimate of $1.44 by ($0.11). TXNM Energy had a net margin of 8.67% and a return on equity of 7.20%. The business had revenue of $647.16 million during the quarter, compared to analyst estimates of $608.65 million. During the same quarter last year, the company posted $1.43 earnings per share. Equities research analysts expect that TXNM Energy, Inc. will post 2.73 earnings per share for the current fiscal year.

TXNM Energy Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 13th. Stockholders of record on Friday, January 30th will be issued a dividend of $0.4225 per share. This is a boost from TXNM Energy’s previous quarterly dividend of $0.41. This represents a $1.69 annualized dividend and a dividend yield of 2.9%. The ex-dividend date of this dividend is Friday, January 30th. TXNM Energy’s payout ratio is 95.32%.

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. 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.