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

TXNM Energy (NYSE:TXNM) had its price target raised by equities research analysts at Scotiabank from $52.00 to $55.00 in a report released on Monday,Benzinga reports. The brokerage currently has a “sector perform” rating on the stock. Scotiabank’s price target indicates a potential upside of 4.23% from the stock’s current price.

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

TXNM Energy Price Performance

TXNM stock traded down $0.45 during mid-day trading on Monday, hitting $52.77. The company had a trading volume of 86,371 shares, compared to its average volume of 851,959. The company has a market capitalization of $4.76 billion, a price-to-earnings ratio of 27.45, a P/E/G ratio of 6.12 and a beta of 0.40. The company has a 50-day moving average price of $48.61 and a 200 day moving average price of $45.65. 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 12-month low of $35.35 and a 12-month high of $54.90.

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

Institutional Trading of TXNM Energy

Large investors have recently made changes to their positions in the business. Wellington Management Group LLP acquired a new position in TXNM Energy during the fourth quarter valued at $64,046,000. California Public Employees Retirement System purchased a new stake in shares of TXNM Energy in the fourth quarter worth about $19,644,000. Franklin Resources Inc. acquired a new stake in TXNM Energy during the fourth quarter worth about $79,524,000. Nomura Asset Management Co. Ltd. acquired a new position in TXNM Energy in the fourth quarter valued at approximately $48,000. Finally, Alliancebernstein L.P. acquired a new position in shares of TXNM Energy in the fourth quarter worth about $123,764,000. 91.68% of the stock is 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.