Analysts Set TXNM Energy, Inc. (NYSE:TXNM) Price Target at $54.86

TXNM Energy, Inc. (NYSE:TXNM) has received an average recommendation of “Moderate Buy” from the eight ratings firms that are covering the stock, MarketBeat.com reports. Four research analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $54.86.

TXNM has been the subject of several research reports. Scotiabank lifted their price objective on shares of TXNM Energy from $55.00 to $60.00 and gave the company a “sector perform” rating in a research note on Tuesday, May 20th. Mizuho downgraded TXNM Energy from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 20th. Barclays reiterated an “overweight” rating and set a $61.00 target price (up previously from $57.00) on shares of TXNM Energy in a report on Wednesday, May 21st. Siebert Williams Shank lowered TXNM Energy from a “strong-buy” rating to a “hold” rating in a research report on Friday, May 23rd. Finally, Wall Street Zen cut TXNM Energy from a “hold” rating to a “sell” rating in a research note on Thursday, May 22nd.

Hedge Funds Weigh In On TXNM Energy

Institutional investors and hedge funds have recently bought and sold shares of the company. Xponance Inc. purchased a new position in shares of TXNM Energy in the 4th quarter valued at about $625,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS bought a new stake in TXNM Energy during the fourth quarter valued at $8,369,000. Sei Investments Co. bought a new stake in TXNM Energy during the fourth quarter valued at $9,270,000. LPL Financial LLC acquired a new position in shares of TXNM Energy during the fourth quarter valued at $470,000. Finally, Vanguard Group Inc. bought a new position in TXNM Energy in the 4th quarter valued at about $497,880,000. 91.68% of the stock is currently owned by institutional investors and hedge funds.

TXNM Energy Price Performance

Shares of NYSE TXNM opened at $56.68 on Friday. The company has a quick ratio of 0.19, a current ratio of 0.29 and a debt-to-equity ratio of 1.80. The company has a market cap of $5.25 billion, a PE ratio of 25.19, a price-to-earnings-growth ratio of 2.68 and a beta of 0.13. The business’s 50 day moving average price is $56.09 and its two-hundred day moving average price is $52.63. TXNM Energy has a twelve month low of $39.60 and a twelve month high of $57.29.

TXNM Energy (NYSE:TXNM) last issued its quarterly earnings results 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 analysts’ expectations of $451.01 million. TXNM Energy had a return on equity of 9.09% and a net margin of 10.13%. The business’s quarterly revenue was up 10.5% on a year-over-year basis. On average, analysts predict that TXNM Energy will post 2.73 EPS for the current year.

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.