TXNM Energy (NYSE:TXNM) Stock Price Expected to Rise, Barclays Analyst Says

TXNM Energy (NYSE:TXNM) had its price objective lifted by Barclays from $49.00 to $56.00 in a research report released on Tuesday morning,Benzinga reports. The firm currently has an overweight rating on the stock.

Other equities analysts have also issued reports about the company. Wells Fargo & Company upped 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 upped 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. Citigroup upped 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. Evercore ISI upgraded TXNM Energy from an “in-line” rating to an “outperform” rating and upped their target price for the company from $51.00 to $54.00 in a research note on Tuesday, February 11th. Finally, Scotiabank upped their target price on TXNM Energy from $52.00 to $55.00 and gave the company a “sector perform” rating in a research note on Monday, February 24th. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $53.43.

TXNM Energy Stock Down 2.3 %

Shares of NYSE:TXNM opened at $48.94 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 $35.35 and a 52-week high of $54.90. The stock’s fifty day simple moving average is $49.15 and its 200-day simple moving average is $46.25. The company has a market capitalization of $4.41 billion, a P/E ratio of 25.49, a P/E/G ratio of 6.12 and a beta of 0.40.

TXNM Energy (NYSE:TXNM) last issued its quarterly earnings data on Friday, February 21st. The company reported $0.30 earnings per share (EPS) 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 business had revenue of $476.96 million for the quarter, compared to the consensus estimate of $496.05 million. As a group, equities research analysts forecast that TXNM Energy will post 2.73 earnings per share for the current fiscal year.

TXNM Energy Announces Dividend

The company also recently declared 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. The ex-dividend date of this dividend is Friday, April 25th. This represents a $1.63 annualized dividend and a yield of 3.33%. TXNM Energy’s dividend payout ratio is presently 61.05%.

Institutional Investors Weigh In On TXNM Energy

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Bessemer Group Inc. acquired a new stake in TXNM Energy during the fourth quarter worth about $27,000. Aster Capital Management DIFC Ltd acquired a new stake in TXNM Energy during the fourth quarter worth about $38,000. LRI Investments LLC acquired a new stake in TXNM Energy during the fourth quarter worth about $40,000. Nomura Asset Management Co. Ltd. acquired a new stake in shares of TXNM Energy in the fourth quarter valued at about $48,000. Finally, NewEdge Advisors LLC acquired a new stake in shares of TXNM Energy in the fourth quarter valued at about $53,000. 91.68% of the stock is currently owned by institutional investors and hedge funds.

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.