TXNM Energy (NYSE:TXNM) Given New $60.00 Price Target at Scotiabank

TXNM Energy (NYSE:TXNM) had its target price hoisted by Scotiabank from $55.00 to $60.00 in a research note issued to investors on Tuesday,Benzinga reports. Scotiabank currently has a sector perform rating on the stock.

Several other analysts also recently issued reports on TXNM. Evercore ISI upgraded TXNM Energy from an “in-line” rating to an “outperform” rating and upped their price objective for the company from $51.00 to $54.00 in a research report on Tuesday, February 11th. Barclays boosted their target price on shares of TXNM Energy from $56.00 to $57.00 and gave the company an “overweight” rating in a research note on Tuesday, March 18th. Finally, Mizuho raised shares of TXNM Energy from a “neutral” rating to an “outperform” rating and set a $53.00 price target on the stock in a research note on Tuesday, March 11th. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $54.29.

TXNM Energy Stock Down 0.3%

Shares of NYSE TXNM opened at $56.42 on Tuesday. The firm’s 50-day moving average is $52.98 and its two-hundred day moving average is $50.11. The company has a market capitalization of $5.23 billion, a PE ratio of 29.39, a price-to-earnings-growth ratio of 6.12 and a beta of 0.11. TXNM Energy has a 12-month low of $39.60 and a 12-month high of $57.29. 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 issued its quarterly earnings data on Friday, May 9th. The company reported $0.19 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.20 by ($0.01). The company had revenue of $482.79 million for the quarter, compared to analyst estimates of $451.01 million. TXNM Energy had a return on equity of 9.69% and a net margin of 9.26%. The business’s quarterly revenue was up 10.5% on a year-over-year basis. Equities analysts anticipate that TXNM Energy will post 2.73 EPS for the current fiscal year.

TXNM Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 16th. Stockholders of record on Friday, April 25th were given a $0.4075 dividend. This represents a $1.63 dividend on an annualized basis and a dividend yield of 2.89%. The ex-dividend date of this dividend was Friday, April 25th. TXNM Energy’s dividend payout ratio is currently 72.44%.

Hedge Funds Weigh In On TXNM Energy

Several large investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. purchased a new stake in TXNM Energy in the 4th quarter valued at about $497,880,000. Jane Street Group LLC acquired a new stake in shares of TXNM Energy in the fourth quarter worth approximately $3,692,000. Loomis Sayles & Co. L P purchased a new stake in TXNM Energy in the fourth quarter valued at approximately $11,742,000. JPMorgan Chase & Co. acquired a new position in TXNM Energy during the fourth quarter worth approximately $31,972,000. Finally, Envestnet Asset Management Inc. acquired a new position in TXNM Energy during the fourth quarter worth approximately $5,093,000. 91.68% of the stock is currently owned by hedge funds and other institutional investors.

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.