TXNM Energy (NYSE:TXNM) Price Target Raised to $53.00

TXNM Energy (NYSE:TXNM) had its price objective upped by Mizuho from $50.00 to $53.00 in a report published on Monday morning,Benzinga reports. They currently have a neutral rating on the stock.

Other equities analysts have also issued research reports about the stock. Citigroup increased their target price on shares of TXNM Energy from $45.00 to $53.00 and gave the company a “neutral” rating in a report on Thursday, December 12th. Scotiabank increased their target price on shares of TXNM Energy from $52.00 to $55.00 and gave the company a “sector perform” rating in a report on Monday, February 24th. Wells Fargo & Company increased their target price on shares of TXNM Energy from $49.00 to $53.00 and gave the company an “overweight” rating in a report on Tuesday, November 26th. Barclays increased their target price on shares of TXNM Energy from $46.00 to $52.00 and gave the company an “overweight” rating in a report on Friday, November 29th. Finally, Evercore ISI raised shares of TXNM Energy from an “in-line” rating to an “outperform” rating and increased their target price for the company from $51.00 to $54.00 in a report on Tuesday, February 11th. Three analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $53.43.

TXNM Energy Price Performance

TXNM stock opened at $50.12 on Monday. The company has a debt-to-equity ratio of 1.80, a current ratio of 0.36 and a quick ratio of 0.27. TXNM Energy has a one year low of $35.35 and a one year high of $54.90. The stock has a market cap of $4.52 billion, a PE ratio of 26.10, a P/E/G ratio of 6.12 and a beta of 0.40. The firm has a 50 day simple moving average of $49.15 and a two-hundred day simple moving average of $46.24.

TXNM Energy (NYSE:TXNM) last released its quarterly earnings results on Friday, February 21st. The company reported $0.30 EPS for the quarter, hitting 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 analysts’ expectations of $496.05 million. On average, analysts predict that TXNM Energy will post 2.73 EPS 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 issued a $0.4075 dividend. This represents a $1.63 dividend on an annualized basis and a yield of 3.25%. The ex-dividend date of this dividend is Friday, April 25th. TXNM Energy’s dividend payout ratio (DPR) is presently 61.05%.

Institutional Investors Weigh In On TXNM Energy

Large investors have recently added to or reduced their stakes in the company. Wellington Management Group LLP bought a new stake in TXNM Energy in the 4th quarter worth $64,046,000. California Public Employees Retirement System bought a new stake in shares of TXNM Energy during the 4th quarter valued at about $19,644,000. Franklin Resources Inc. bought a new stake in shares of TXNM Energy during the 4th quarter valued at about $79,524,000. Nomura Asset Management Co. Ltd. bought a new stake in shares of TXNM Energy during the 4th quarter valued at about $48,000. Finally, Alliancebernstein L.P. bought a new stake in shares of TXNM Energy during the 4th quarter valued at about $123,764,000. Institutional investors own 91.68% of the company’s stock.

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.