TXNM Energy Sees Unusually Large Options Volume (NYSE:TXNM)

TXNM Energy, Inc. (NYSE:TXNM) saw some unusual options trading activity on Wednesday. Investors bought 2,500 call options on the stock. This represents an increase of 16,567% compared to the typical daily volume of 15 call options.

TXNM Energy Trading Up 1.1 %

NYSE:TXNM traded up $0.54 during mid-day trading on Wednesday, hitting $49.21. 49,842 shares of the company’s stock traded hands, compared to its average volume of 899,279. The company has a market capitalization of $4.44 billion, a price-to-earnings ratio of 25.58, a price-to-earnings-growth ratio of 5.75 and a beta of 0.40. TXNM Energy has a 12 month low of $34.73 and a 12 month high of $50.28. The firm’s 50 day moving average price is $48.31. The company has a quick ratio of 0.27, a current ratio of 0.36 and a debt-to-equity ratio of 1.80.

TXNM Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Friday, January 31st will be paid a dividend of $0.4075 per share. This is a positive change from TXNM Energy’s previous quarterly dividend of $0.39. This represents a $1.63 annualized dividend and a yield of 3.31%. The ex-dividend date is Friday, January 31st. TXNM Energy’s dividend payout ratio is currently 84.90%.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on TXNM shares. Citigroup increased their price target on shares of TXNM Energy from $45.00 to $53.00 and gave the stock a “neutral” rating in a research note on Thursday, December 12th. Barclays increased their target price on TXNM Energy from $46.00 to $52.00 and gave the company an “overweight” rating in a report on Friday, November 29th. Scotiabank upped their target price 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, Wells Fargo & Company increased their target price on TXNM Energy from $49.00 to $53.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 26th. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, TXNM Energy presently has an average rating of “Moderate Buy” and a consensus price target of $52.00.

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.