Barclays Issues Positive Forecast for TXNM Energy (NYSE:TXNM) Stock Price

TXNM Energy (NYSE:TXNM) had its target price upped by Barclays from $56.00 to $57.00 in a report released on Tuesday morning,Benzinga reports. Barclays currently has an overweight rating on the stock.

Several other research firms have also commented on TXNM. Wells Fargo & Company lifted their price objective on shares of TXNM Energy from $49.00 to $53.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 26th. Citigroup upped their price objective 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 boosted their target price for the stock from $51.00 to $54.00 in a report on Tuesday, February 11th. Scotiabank boosted their target price on shares of TXNM Energy from $52.00 to $55.00 and gave the stock a “sector perform” rating in a report on Monday, February 24th. Finally, 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. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $53.57.

TXNM Energy Price Performance

Shares of TXNM Energy stock opened at $54.50 on Tuesday. 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 has a 52 week low of $39.60 and a 52 week high of $55.50. The stock’s 50-day simple moving average is $49.59 and its 200-day simple moving average is $46.92. The company has a market capitalization of $5.05 billion, a price-to-earnings ratio of 28.38, 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 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.30. TXNM Energy had a net margin of 9.26% and a return on equity of 9.69%. The business had revenue of $476.96 million during the quarter, compared to analyst estimates of $496.05 million. As a group, analysts expect that TXNM Energy will post 2.73 earnings per share for the current fiscal year.

TXNM Energy Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, May 16th. Shareholders 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 2.99%. The ex-dividend date of this dividend is Friday, April 25th. TXNM Energy’s dividend payout ratio (DPR) is presently 61.05%.

Hedge Funds Weigh In On TXNM Energy

A number of hedge funds and other institutional investors have recently bought and sold shares of TXNM. Bessemer Group Inc. purchased a new position in shares of TXNM Energy in the 4th quarter valued at about $27,000. Aster Capital Management DIFC Ltd acquired a new position in shares of TXNM Energy in the fourth quarter valued at approximately $38,000. LRI Investments LLC acquired a new position in shares of TXNM Energy in the fourth quarter valued at approximately $40,000. Nomura Asset Management Co. Ltd. acquired a new position 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.

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.