TXNM Energy (NYSE:TXNM) Price Target Raised to $55.00

TXNM Energy (NYSE:TXNM) had its target price boosted by Scotiabank from $52.00 to $55.00 in a research note issued to investors on Monday morning,Benzinga reports. The brokerage currently has a sector perform rating on the stock.

TXNM has been the subject of several other research reports. Citigroup lifted their target price on shares of TXNM Energy from $45.00 to $53.00 and gave the stock a “neutral” rating in a research note on Thursday, December 12th. Evercore ISI upgraded shares of TXNM Energy from an “in-line” rating to an “outperform” rating and lifted their price objective for the company from $51.00 to $54.00 in a research note on Tuesday, February 11th. Wells Fargo & Company boosted their target price on shares of TXNM Energy from $49.00 to $53.00 and gave the company an “overweight” rating in a report on Tuesday, November 26th. Finally, Barclays raised their price target on TXNM Energy from $46.00 to $52.00 and gave the stock an “overweight” rating in a report on Friday, November 29th. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $52.83.

TXNM Energy Trading Down 1.2 %

NYSE:TXNM opened at $51.61 on Monday. The firm’s 50 day moving average is $48.76 and its 200 day moving average is $45.82. TXNM Energy has a 12 month low of $35.35 and a 12 month high of $54.90. The stock has a market capitalization of $4.66 billion, a PE ratio of 26.88, a price-to-earnings-growth ratio of 6.12 and a beta of 0.40. The company has a current ratio of 0.36, a quick ratio of 0.27 and a debt-to-equity ratio of 1.80.

TXNM Energy (NYSE:TXNM) last issued its quarterly earnings results on Friday, February 21st. The company reported $0.30 EPS 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 for the quarter, compared to analysts’ expectations of $496.05 million. Sell-side analysts expect that TXNM Energy will post 2.73 earnings per share for the current year.

TXNM Energy Dividend Announcement

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 paid a dividend of $0.4075 per share. This represents a $1.63 annualized dividend and a yield of 3.16%. The ex-dividend date is Friday, April 25th. TXNM Energy’s dividend payout ratio is 61.05%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of TXNM. Bessemer Group Inc. purchased a new position in TXNM Energy in the 4th quarter worth approximately $27,000. Aster Capital Management DIFC Ltd bought a new stake in shares of TXNM Energy during the 4th quarter worth $38,000. LRI Investments LLC purchased a new position in TXNM Energy in the fourth quarter worth $40,000. Nomura Asset Management Co. Ltd. bought a new position in TXNM Energy in the fourth quarter valued at $48,000. Finally, NewEdge Advisors LLC purchased a new stake in TXNM Energy during the fourth quarter valued at about $53,000. 91.68% of the stock is currently owned by 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.