TXNM Energy (NYSE:TXNM) Shares Gap Up – What’s Next?

TXNM Energy, Inc. (NYSE:TXNM)’s share price gapped up prior to trading on Tuesday . The stock had previously closed at $47.87, but opened at $53.74. TXNM Energy shares last traded at $51.56, with a volume of 500,544 shares.

Analyst Ratings Changes

Several research firms have commented on TXNM. Scotiabank boosted their target price on TXNM Energy from $52.00 to $55.00 and gave the stock a “sector perform” rating in a report on Monday, February 24th. Evercore ISI raised TXNM Energy from an “in-line” rating to an “outperform” rating and boosted their target price for the stock from $51.00 to $54.00 in a report on Tuesday, February 11th. Barclays upped their price target on TXNM Energy from $49.00 to $56.00 and gave the company an “overweight” rating in a report on Tuesday, March 4th. Citigroup upped their price target on TXNM Energy from $45.00 to $53.00 and gave the company a “neutral” rating in a report on Thursday, December 12th. Finally, Wells Fargo & Company upped their price target on TXNM Energy from $49.00 to $53.00 and gave the company an “overweight” rating in a report on Tuesday, November 26th. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $53.43.

TXNM Energy Stock Performance

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 business has a 50-day moving average of $49.19 and a 200 day moving average of $46.54. The company has a market cap of $4.75 billion, a PE ratio of 26.67, a PEG ratio of 6.12 and a beta of 0.32.

TXNM Energy (NYSE:TXNM) last issued its quarterly earnings results on Friday, February 21st. The company reported $0.30 EPS for the quarter, hitting analysts’ consensus estimates of $0.30. The business had revenue of $476.96 million during the quarter, compared to analysts’ expectations of $496.05 million. TXNM Energy had a return on equity of 9.69% and a net margin of 9.26%. Equities research analysts anticipate that TXNM Energy, Inc. will post 2.73 EPS for the current fiscal year.

TXNM Energy Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, May 16th. Shareholders of record on Friday, April 25th will be given a $0.4075 dividend. This represents a $1.63 dividend on an annualized basis and a yield of 3.18%. The ex-dividend date is Friday, April 25th. TXNM Energy’s payout ratio is 61.05%.

Institutional Trading of TXNM Energy

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. purchased a new stake in TXNM Energy in the fourth quarter worth about $497,880,000. T. Rowe Price Investment Management Inc. bought a new position in shares of TXNM Energy in the fourth quarter worth about $303,744,000. FMR LLC bought a new position in shares of TXNM Energy in the fourth quarter worth about $191,594,000. Fuller & Thaler Asset Management Inc. bought a new position in TXNM Energy during the fourth quarter valued at approximately $189,170,000. Finally, Zimmer Partners LP bought a new position in TXNM Energy during the fourth quarter valued at approximately $165,816,000. Hedge funds and other institutional investors own 91.68% of the company’s stock.

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.