Brokerages Set TXNM Energy, Inc. (NYSE:TXNM) PT at $53.43

TXNM Energy, Inc. (NYSE:TXNM) has received an average rating of “Moderate Buy” from the seven analysts that are currently covering the company, Marketbeat.com reports. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $53.43.

A number of equities research analysts recently weighed in on TXNM shares. Barclays raised 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. Scotiabank raised their price target on TXNM Energy from $52.00 to $55.00 and gave the company a “sector perform” rating in a report on Monday, February 24th. Citigroup raised 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. Mizuho upgraded TXNM Energy from a “neutral” rating to an “outperform” rating and set a $53.00 price objective on the stock in a research report on Tuesday. Finally, Wells Fargo & Company increased their price objective on TXNM Energy from $49.00 to $53.00 and gave the company an “overweight” rating in a research report on Tuesday, November 26th.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in TXNM. Bessemer Group Inc. bought a new position in shares of TXNM Energy in the 4th quarter worth $27,000. Aster Capital Management DIFC Ltd bought a new position in shares of TXNM Energy in the 4th quarter worth $38,000. LRI Investments LLC bought a new position in shares of TXNM Energy in the 4th quarter worth $40,000. Nomura Asset Management Co. Ltd. bought a new position in shares of TXNM Energy in the 4th quarter worth $48,000. Finally, NewEdge Advisors LLC bought a new position in shares of TXNM Energy in the 4th quarter worth $53,000. 91.68% of the stock is currently owned by institutional investors.

TXNM Energy Trading Up 0.1 %

TXNM stock opened at $51.21 on Friday. The business has a fifty day moving average price of $49.19 and a 200 day moving average price of $46.54. TXNM Energy has a fifty-two week low of $39.60 and a fifty-two week high of $54.90. The stock has a market capitalization of $4.75 billion, a price-to-earnings ratio of 26.67, a P/E/G ratio of 6.12 and a beta of 0.32. The company has a debt-to-equity ratio of 1.80, a current ratio of 0.36 and a quick ratio of 0.27.

TXNM Energy (NYSE:TXNM) last released its quarterly earnings results on Friday, February 21st. The company reported $0.30 earnings per share 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 firm had revenue of $476.96 million during the quarter, compared to analysts’ expectations of $496.05 million. Analysts expect that TXNM Energy will post 2.73 EPS for the current fiscal year.

TXNM Energy Dividend Announcement

The company also recently disclosed 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. The ex-dividend date is Friday, April 25th. This represents a $1.63 dividend on an annualized basis and a yield of 3.18%. TXNM Energy’s payout ratio is 61.05%.

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.