TXNM Energy (NYSE:TXNM) Sets New 12-Month High – Still a Buy?

Shares of TXNM Energy, Inc. (NYSE:TXNM) hit a new 52-week high on Monday . The company traded as high as $46.63 and last traded at $46.63, with a volume of 18780 shares trading hands. The stock had previously closed at $46.30.

Analyst Ratings Changes

A number of equities research analysts have commented on TXNM shares. Scotiabank started coverage on TXNM Energy in a research note on Thursday, October 10th. They issued a “sector perform” rating and a $46.00 price target for the company. Barclays increased their price target on TXNM Energy from $45.00 to $46.00 and gave the company an “overweight” rating in a research note on Tuesday, October 15th. Wells Fargo & Company increased their price target on TXNM Energy from $46.00 to $49.00 and gave the company an “overweight” rating in a research note on Wednesday, October 16th. Finally, Jefferies Financial Group started coverage on TXNM Energy in a research note on Wednesday, October 2nd. They issued a “buy” rating and a $50.00 price target for the company.

TXNM Energy Stock Up 1.2 %

The stock has a market cap of $4.32 billion, a PE ratio of 24.57, a PEG ratio of 6.71 and a beta of 0.36. 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 50 day moving average price of $43.68.

TXNM Energy (NYSE:TXNM) last announced its quarterly earnings results on Friday, November 1st. The company reported $1.43 earnings per share for the quarter, beating the consensus estimate of $1.41 by $0.02. The company had revenue of $569.30 million during the quarter, compared to analysts’ expectations of $588.88 million. TXNM Energy had a return on equity of 9.69% and a net margin of 9.26%. TXNM Energy’s quarterly revenue was up 12.5% on a year-over-year basis. During the same period last year, the business earned $1.54 earnings per share. Equities analysts expect that TXNM Energy, Inc. will post 2.72 earnings per share for the current fiscal year.

TXNM Energy Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 8th. Investors of record on Monday, October 28th were given a dividend of $0.3875 per share. This represents a $1.55 annualized dividend and a yield of 3.24%. The ex-dividend date was Monday, October 28th. TXNM Energy’s dividend payout ratio is currently 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.