Brokerages Set TXNM Energy, Inc. (NYSE:TXNM) Target Price at $53.57

Shares of TXNM Energy, Inc. (NYSE:TXNM) have received an average rating of “Moderate Buy” from the seven ratings firms that are covering the company, MarketBeat Ratings reports. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $53.57.

A number of analysts recently issued reports on TXNM shares. Barclays lifted their target price on TXNM Energy from $56.00 to $57.00 and gave the company an “overweight” rating in a research report on Tuesday, March 18th. Evercore ISI upgraded 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 research note on Tuesday, February 11th. Scotiabank raised their target price on shares of TXNM Energy from $52.00 to $55.00 and gave the company a “sector perform” rating in a research note on Monday, February 24th. Mizuho upgraded shares of TXNM Energy from a “neutral” rating to an “outperform” rating and set a $53.00 price objective on the stock in a report on Tuesday, March 11th. Finally, Citigroup raised their price objective on shares of TXNM Energy from $45.00 to $53.00 and gave the stock a “neutral” rating in a research report on Thursday, December 12th.

Institutional Inflows and Outflows

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

TXNM Energy Trading Down 5.0 %

NYSE TXNM opened at $51.28 on Wednesday. TXNM Energy has a 52 week low of $39.60 and a 52 week high of $55.50. The company has a debt-to-equity ratio of 1.80, a quick ratio of 0.27 and a current ratio of 0.36. The stock’s 50 day moving average price is $51.17 and its two-hundred day moving average price is $47.94. The stock has a market capitalization of $4.75 billion, a price-to-earnings ratio of 26.71, a PEG ratio of 6.12 and a beta of 0.32.

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

TXNM Energy Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 16th. Shareholders 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 3.18%. The ex-dividend date of this dividend is Friday, April 25th. TXNM Energy’s payout ratio is 61.05%.

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.