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

TXNM Energy (NYSE:TXNM) had its target price upped by Barclays from $49.00 to $56.00 in a research note released on Tuesday,Benzinga reports. Barclays currently has an overweight rating on the stock.

TXNM has been the topic of several other reports. Citigroup lifted their target price on TXNM Energy from $45.00 to $53.00 and gave the company a “neutral” rating in a research note on Thursday, December 12th. Wells Fargo & Company lifted their target price on TXNM Energy from $49.00 to $53.00 and gave the company an “overweight” rating in a research note on Tuesday, November 26th. Mizuho lifted their target price on TXNM Energy from $50.00 to $53.00 and gave the company a “neutral” rating in a research note on Monday. Scotiabank upped their price objective on TXNM Energy from $52.00 to $55.00 and gave the stock a “sector perform” rating in a report on Monday, February 24th. Finally, Evercore ISI raised TXNM Energy from an “in-line” rating to an “outperform” rating and upped their price objective for the stock from $51.00 to $54.00 in a report on Tuesday, February 11th. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $53.43.

TXNM Energy Trading Down 2.3 %

NYSE:TXNM opened at $48.94 on Tuesday. The stock’s 50 day moving average price is $49.15 and its 200 day moving average price is $46.25. TXNM Energy has a 52-week low of $35.35 and a 52-week high of $54.90. The company has a market capitalization of $4.41 billion, a PE ratio of 25.49, a P/E/G ratio of 6.12 and a beta of 0.40. 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 (NYSE:TXNM) last announced its earnings results on Friday, February 21st. The company reported $0.30 earnings per share for the quarter, meeting the consensus estimate 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 for the quarter, compared to the consensus estimate of $496.05 million. On average, research analysts anticipate that TXNM Energy will post 2.73 EPS for the current year.

TXNM Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 16th. Investors of record on Friday, April 25th will be issued a dividend of $0.4075 per share. This represents a $1.63 dividend on an annualized basis and a yield of 3.33%. The ex-dividend date of this dividend is Friday, April 25th. TXNM Energy’s dividend payout ratio is presently 61.05%.

Institutional Trading of TXNM Energy

A number of institutional investors have recently bought and sold shares of TXNM. Bessemer Group Inc. purchased a new stake in TXNM Energy during the fourth quarter worth $27,000. Aster Capital Management DIFC Ltd purchased a new stake in TXNM Energy during the fourth quarter worth $38,000. LRI Investments LLC purchased a new stake in TXNM Energy during the fourth quarter worth $40,000. Nomura Asset Management Co. Ltd. purchased a new stake in TXNM Energy during the fourth quarter worth $48,000. Finally, NewEdge Advisors LLC purchased a new stake in TXNM Energy during the fourth quarter worth $53,000. 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.