Barclays Increases TXNM Energy (NYSE:TXNM) Price Target to $57.00

TXNM Energy (NYSE:TXNM) had its price target boosted by stock analysts at Barclays from $56.00 to $57.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm presently has an “overweight” rating on the stock. Barclays‘s price target would indicate a potential upside of 7.87% from the stock’s previous close.

Other research analysts have also issued research reports about the company. Scotiabank increased their price objective on TXNM Energy from $52.00 to $55.00 and gave the company a “sector perform” rating in a report on Monday, February 24th. Citigroup increased their price objective on TXNM Energy from $45.00 to $53.00 and gave the company a “neutral” rating in a report on Thursday, December 12th. Evercore ISI raised TXNM Energy from an “in-line” rating to an “outperform” rating and increased their price objective for the company from $51.00 to $54.00 in a report on Tuesday, February 11th. Mizuho upgraded TXNM Energy from a “neutral” rating to an “outperform” rating and set a $53.00 target price for the company in a research note on Tuesday, March 11th. Finally, Wells Fargo & Company increased 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. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $53.57.

TXNM Energy Stock Performance

Shares of TXNM stock opened at $52.84 on Tuesday. The company has a debt-to-equity ratio of 1.80, a current ratio of 0.36 and a quick ratio of 0.27. The firm has a market cap of $4.90 billion, a P/E ratio of 27.52, a PEG ratio of 6.12 and a beta of 0.32. The stock’s 50-day moving average is $49.44 and its two-hundred day moving average is $46.82. TXNM Energy has a fifty-two week low of $39.60 and a fifty-two week high of $54.90.

TXNM Energy (NYSE:TXNM) last issued its quarterly earnings data on Friday, February 21st. The company reported $0.30 EPS for the quarter, meeting 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 return on equity of 9.69% and a net margin of 9.26%. Analysts predict that TXNM Energy will post 2.73 earnings per share for the current fiscal year.

Institutional Trading of TXNM Energy

A number of hedge funds have recently modified their holdings of TXNM. Bessemer Group Inc. bought a new stake in shares of TXNM Energy in the 4th quarter worth approximately $27,000. Aster Capital Management DIFC Ltd bought a new stake in shares of TXNM Energy in the 4th quarter worth approximately $38,000. LRI Investments LLC bought a new stake in shares of TXNM Energy in the 4th quarter worth approximately $40,000. Nomura Asset Management Co. Ltd. bought a new stake in shares of TXNM Energy in the 4th quarter worth approximately $48,000. Finally, NewEdge Advisors LLC bought a new stake in shares of TXNM Energy in the 4th quarter worth approximately $53,000. Institutional investors own 91.68% of the company’s stock.

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.