TXNM Energy (NYSE:TXNM) Hits New 12-Month High – Should You Buy?

TXNM Energy, Inc. (NYSE:TXNM)’s share price hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $49.25 and last traded at $49.21, with a volume of 2255 shares changing hands. The stock had previously closed at $48.79.

Wall Street Analyst Weigh In

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

TXNM Energy Trading Up 1.1 %

The company has a fifty day moving average price of $44.21. The company has a current ratio of 0.36, a quick ratio of 0.27 and a debt-to-equity ratio of 1.80. The stock has a market capitalization of $4.45 billion, a price-to-earnings ratio of 25.41, a P/E/G ratio of 7.08 and a beta of 0.36.

TXNM Energy (NYSE:TXNM) last posted its earnings results on Friday, November 1st. The company reported $1.43 earnings per share for the quarter, topping the consensus estimate of $1.41 by $0.02. TXNM Energy had a net margin of 9.26% and a return on equity of 9.69%. The business had revenue of $569.30 million for the quarter, compared to analyst estimates of $588.88 million. During the same quarter in the prior year, the firm earned $1.54 EPS. The firm’s quarterly revenue was up 12.5% compared to the same quarter last year. On average, analysts predict that TXNM Energy, Inc. will post 2.72 EPS for the current fiscal year.

TXNM Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 8th. Shareholders of record on Monday, October 28th were issued a dividend of $0.3875 per share. This represents a $1.55 dividend on an annualized basis and a yield of 3.14%. The ex-dividend date of this dividend 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.