TXNM Energy (NYSE:TXNM) Price Target Raised to $56.00

TXNM Energy (NYSE:TXNM) had its price objective hoisted by analysts at Barclays from $49.00 to $56.00 in a note issued to investors on Tuesday,Benzinga reports. The firm currently has an “overweight” rating on the stock. Barclays‘s target price would suggest a potential upside of 7.32% from the company’s previous close.

A number of other brokerages have also commented on TXNM. Scotiabank raised 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. Wells Fargo & Company raised their target price on shares of TXNM Energy from $49.00 to $53.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 26th. Citigroup lifted their target price on shares of TXNM Energy from $45.00 to $53.00 and gave the company a “neutral” rating in a research note on Thursday, December 12th. Evercore ISI raised shares of TXNM Energy from an “in-line” rating to an “outperform” rating and increased their price target for the stock from $51.00 to $54.00 in a research note on Tuesday, February 11th. Finally, Mizuho lifted their price objective on TXNM Energy from $50.00 to $53.00 and gave the company a “neutral” rating in a research report on Monday. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $53.43.

TXNM Energy Price Performance

Shares of TXNM Energy stock opened at $52.18 on Tuesday. The firm has a market cap of $4.71 billion, a PE ratio of 27.18, a price-to-earnings-growth ratio of 6.12 and a beta of 0.40. The company’s fifty day simple moving average is $49.07 and its two-hundred day simple moving average is $46.13. 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 has a 12-month low of $35.35 and a 12-month high of $54.90.

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

Hedge Funds Weigh In On TXNM Energy

Large investors have recently made changes to their positions in the business. Vanguard Group Inc. purchased a new stake in shares of TXNM Energy in the 4th quarter worth approximately $497,880,000. T. Rowe Price Investment Management Inc. bought a new stake in TXNM Energy in the fourth quarter worth $303,744,000. FMR LLC purchased a new stake in shares of TXNM Energy in the fourth quarter worth $191,594,000. Fuller & Thaler Asset Management Inc. bought a new position in shares of TXNM Energy during the fourth quarter valued at $189,170,000. Finally, Zimmer Partners LP purchased a new position in shares of TXNM Energy in the 4th quarter worth about $165,816,000. 91.68% of the stock is currently owned by hedge funds and other institutional investors.

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.