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 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.

TXNM has been the subject of several other research reports. Jefferies Financial Group lowered shares of TXNM Energy from a “buy” rating to a “hold” rating and upped their price target for the stock from $58.00 to $61.25 in a research report on Monday, October 27th. Weiss Ratings reissued a “hold (c+)” rating on shares of TXNM Energy in a research note on Monday, December 29th. Finally, Citigroup started coverage on shares of TXNM Energy in a research note on Thursday, October 9th. They issued a “neutral” rating and a $61.25 price target on the stock. Two research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $58.42.

Insider Activity at TXNM Energy

In related news, Director Vicky A. Bailey sold 1,800 shares of the business’s stock in a transaction that occurred on Friday, November 14th. The stock was sold at an average price of $57.74, for a total transaction of $103,932.00. Following the sale, the director owned 8,725 shares of the company’s stock, valued at $503,781.50. The trade was a 17.10% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 1.36% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On TXNM Energy

Several hedge funds have recently modified their holdings of the company. Cape Investment Advisory Inc. acquired a new stake in shares of TXNM Energy in the second quarter valued at $28,000. Huntington National Bank lifted its holdings in TXNM Energy by 1,307.0% in the 2nd quarter. Huntington National Bank now owns 605 shares of the company’s stock valued at $34,000 after acquiring an additional 562 shares during the last quarter. Smartleaf Asset Management LLC boosted its position in shares of TXNM Energy by 280.0% during the 3rd quarter. Smartleaf Asset Management LLC now owns 1,026 shares of the company’s stock valued at $58,000 after purchasing an additional 756 shares in the last quarter. MorganRosel Wealth Management LLC bought a new position in shares of TXNM Energy during the 2nd quarter valued at about $67,000. Finally, Jones Financial Companies Lllp grew its stake in shares of TXNM Energy by 574.0% in the 3rd quarter. Jones Financial Companies Lllp now owns 1,294 shares of the company’s stock worth $73,000 after purchasing an additional 1,102 shares during the last quarter. 91.68% of the stock is currently owned by institutional investors and hedge funds.

TXNM Energy Trading Up 0.0%

The firm has a market capitalization of $6.45 billion, a price-to-earnings ratio of 34.63, a price-to-earnings-growth ratio of 2.53 and a beta of 0.17. The company has a quick ratio of 0.36, a current ratio of 0.51 and a debt-to-equity ratio of 1.35. The firm’s 50 day moving average is $58.72 and its 200 day moving average is $57.54.

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

TXNM Energy Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, February 13th. Investors of record on Friday, January 30th will be given a $0.4225 dividend. This is a positive change from TXNM Energy’s previous quarterly dividend of $0.41. The ex-dividend date is Friday, January 30th. This represents a $1.69 dividend on an annualized basis and a dividend yield of 2.9%. TXNM Energy’s dividend 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.