TXNM Energy (NYSE:TXNM) Sees Unusually-High Trading Volume – Should You Buy?

TXNM Energy, Inc. (NYSE:TXNM) saw unusually-high trading volume on Tuesday . Approximately 933,264 shares were traded during trading, a decline of 27% from the previous session’s volume of 1,283,955 shares.The stock last traded at $57.5160 and had previously closed at $57.61.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on TXNM shares. Wall Street Zen upgraded TXNM Energy from a “sell” rating to a “hold” rating in a research note on Saturday, August 8th. Weiss Ratings upgraded TXNM Energy from a “hold (c)” rating to a “hold (c+)” rating in a report on Monday, August 3rd. Three research analysts have rated the stock with a Hold rating, According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $61.25.

TXNM Energy Stock Performance

The company has a market capitalization of $5.95 billion, a price-to-earnings ratio of 31.89, a price-to-earnings-growth ratio of 2.49 and a beta of 0.17. The company has a debt-to-equity ratio of 1.44, a quick ratio of 0.39 and a current ratio of 0.56. The company’s fifty day simple moving average is $57.41 and its two-hundred day simple moving average is $58.30.

TXNM Energy (NYSE:TXNM) last released its earnings results on Friday, July 31st. The company reported $0.58 earnings per share for the quarter, topping the consensus estimate of $0.56 by $0.02. TXNM Energy had a net margin of 9.04% and a return on equity of 8.11%. The company had revenue of $548.55 million during the quarter, compared to the consensus estimate of $567.00 million. Equities research analysts predict that TXNM Energy, Inc. will post 3.07 earnings per share for the current fiscal year.

TXNM Energy Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 14th. Investors of record on Monday, August 3rd were issued a $0.4225 dividend. This represents a $1.69 annualized dividend and a yield of 2.9%. The ex-dividend date of this dividend was Monday, August 3rd. TXNM Energy’s payout ratio is currently 93.37%.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of TXNM. Los Angeles Capital Management LLC bought a new stake in shares of TXNM Energy in the 4th quarter valued at approximately $27,000. Ameritas Advisory Services LLC bought a new position in TXNM Energy during the second quarter worth $30,000. EverSource Wealth Advisors LLC boosted its holdings in TXNM Energy by 17.1% in the first quarter. EverSource Wealth Advisors LLC now owns 1,257 shares of the company’s stock worth $73,000 after purchasing an additional 184 shares during the period. Smartleaf Asset Management LLC boosted its holdings in TXNM Energy by 23.0% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,262 shares of the company’s stock worth $74,000 after purchasing an additional 236 shares during the period. Finally, Kestra Advisory Services LLC bought a new stake in TXNM Energy during the fourth quarter valued at $74,000. 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. 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.