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

Shares of TXNM Energy, Inc. (NYSE:TXNM) reached a new 52-week high during mid-day trading on Friday . The stock traded as high as $51.00 and last traded at $50.95, with a volume of 57834 shares. The stock had previously closed at $50.02.

Analysts Set New Price Targets

Several research analysts have recently weighed in on TXNM shares. Wells Fargo & Company boosted their target price on TXNM Energy from $49.00 to $53.00 and gave the stock an “overweight” rating in a report on Tuesday, November 26th. Evercore ISI upgraded TXNM Energy from an “in-line” rating to an “outperform” rating and increased their price objective for the company from $51.00 to $54.00 in a research note on Tuesday. Citigroup increased their price objective on TXNM Energy from $45.00 to $53.00 and gave the company a “neutral” rating in a research note on Thursday, December 12th. Scotiabank increased their price objective on TXNM Energy from $46.00 to $52.00 and gave the company a “sector perform” rating in a research note on Thursday, December 12th. Finally, Barclays increased their price objective on TXNM Energy from $46.00 to $52.00 and gave the company an “overweight” rating in a research note on Friday, November 29th. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $52.33.

TXNM Energy Stock Up 1.2 %

The firm has a market capitalization of $4.57 billion, a PE ratio of 26.36, a PEG ratio of 5.91 and a beta of 0.40. The stock’s fifty day simple moving average is $48.34. The company has a current ratio of 0.36, a quick ratio of 0.27 and a debt-to-equity ratio of 1.80.

TXNM Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Friday, January 31st will be issued a dividend of $0.4075 per share. This is a positive change from TXNM Energy’s previous quarterly dividend of $0.39. The ex-dividend date of this dividend is Friday, January 31st. This represents a $1.63 annualized dividend and a dividend yield of 3.22%. TXNM Energy’s dividend payout ratio (DPR) is presently 84.90%.

Hedge Funds Weigh In On TXNM Energy

Several hedge funds have recently made changes to their positions in TXNM. Bessemer Group Inc. acquired a new stake in TXNM Energy in the fourth quarter valued at about $27,000. Aster Capital Management DIFC Ltd purchased a new stake in TXNM Energy in the 4th quarter worth approximately $38,000. Nomura Asset Management Co. Ltd. purchased a new stake in TXNM Energy in the 4th quarter worth approximately $48,000. NewEdge Advisors LLC purchased a new stake in TXNM Energy in the 4th quarter worth approximately $53,000. Finally, CIBC Private Wealth Group LLC purchased a new stake in TXNM Energy in the 4th quarter worth approximately $83,000. Hedge funds and other institutional investors own 91.68% of the company’s stock.

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.