TXNM Energy (NYSE:TXNM) Price Target Raised to $57.00

TXNM Energy (NYSE:TXNM) had its price target hoisted by Barclays from $56.00 to $57.00 in a research report report published on Tuesday,Benzinga reports. Barclays currently has an overweight rating on the stock.

Several other research analysts also recently issued reports on TXNM. Scotiabank lifted their price target on TXNM Energy from $52.00 to $55.00 and gave the stock a “sector perform” rating in a research note on Monday, February 24th. Evercore ISI raised TXNM Energy from an “in-line” rating to an “outperform” rating and lifted their price target for the stock from $51.00 to $54.00 in a research note on Tuesday, February 11th. Wells Fargo & Company lifted their price target on TXNM Energy from $49.00 to $53.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 26th. Mizuho raised TXNM Energy from a “neutral” rating to an “outperform” rating and set a $53.00 price target for the company in a research note on Tuesday, March 11th. Finally, Citigroup lifted their price target on TXNM Energy from $45.00 to $53.00 and gave the stock a “neutral” rating in a research note on Thursday, December 12th. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $53.57.

TXNM Energy Price Performance

TXNM Energy stock opened at $54.02 on Tuesday. TXNM Energy has a one year low of $39.60 and a one year high of $55.50. The company has a debt-to-equity ratio of 1.80, a quick ratio of 0.27 and a current ratio of 0.36. The business has a fifty day moving average of $49.87 and a two-hundred day moving average of $47.02. The company has a market cap of $5.01 billion, a P/E ratio of 28.13, a price-to-earnings-growth ratio of 6.12 and a beta of 0.32.

TXNM Energy (NYSE:TXNM) last released its earnings results on Friday, February 21st. The company reported $0.30 EPS for the quarter, meeting analysts’ consensus estimates of $0.30. TXNM Energy had a return on equity of 9.69% and a net margin of 9.26%. The company had revenue of $476.96 million during the quarter, compared to the consensus estimate of $496.05 million. As a group, analysts predict that TXNM Energy will post 2.73 earnings per share for the current fiscal year.

TXNM Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 16th. Shareholders of record on Friday, April 25th will be issued a $0.4075 dividend. This represents a $1.63 annualized dividend and a yield of 3.02%. The ex-dividend date is Friday, April 25th. TXNM Energy’s dividend payout ratio (DPR) is 61.05%.

Institutional Trading of TXNM Energy

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Bessemer Group Inc. purchased a new stake in TXNM Energy in the 4th quarter valued at about $27,000. Aster Capital Management DIFC Ltd purchased a new stake in shares of TXNM Energy during the 4th quarter worth about $38,000. LRI Investments LLC purchased a new stake in shares of TXNM Energy during the 4th quarter worth about $40,000. Nomura Asset Management Co. Ltd. purchased a new stake in shares of TXNM Energy during the 4th quarter worth about $48,000. Finally, NewEdge Advisors LLC purchased a new stake in shares of TXNM Energy during the 4th quarter worth about $53,000. 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.