Barclays Forecasts Strong Price Appreciation for TXNM Energy (NYSE:TXNM) Stock

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

Other equities analysts have also issued reports about the company. Scotiabank boosted their price target on TXNM Energy from $52.00 to $55.00 and gave the stock a “sector perform” rating in a research report on Monday, February 24th. 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 report on Tuesday, November 26th. Citigroup upped their target price on TXNM Energy from $45.00 to $53.00 and gave the company a “neutral” rating in a research report on Thursday, December 12th. Evercore ISI raised 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 report on Tuesday, February 11th. Finally, Mizuho raised TXNM Energy from a “neutral” rating to an “outperform” rating and set a $53.00 price target on the stock in a research report on Tuesday, March 11th. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, TXNM Energy presently has an average rating of “Moderate Buy” and a consensus price target of $53.57.

TXNM Energy Stock Performance

TXNM Energy stock opened at $54.02 on Tuesday. The stock’s 50 day moving average price is $49.87 and its 200 day moving average price is $47.02. The firm has a market capitalization of $5.01 billion, a PE ratio of 28.13, a price-to-earnings-growth ratio of 6.12 and a beta of 0.32. The company has a debt-to-equity ratio of 1.80, a quick ratio of 0.27 and a current ratio of 0.36. TXNM Energy has a one year low of $39.60 and a one year high of $55.50.

TXNM Energy (NYSE:TXNM) last released its quarterly earnings results on Friday, February 21st. The company reported $0.30 EPS for the quarter, hitting the consensus estimate of $0.30. The firm 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%. As a group, sell-side analysts expect that TXNM Energy will post 2.73 EPS for the current fiscal year.

TXNM Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 16th. Stockholders of record on Friday, April 25th will be issued a $0.4075 dividend. The ex-dividend date of this dividend is Friday, April 25th. This represents a $1.63 annualized dividend and a dividend yield of 3.02%. TXNM Energy’s dividend payout ratio (DPR) is 61.05%.

Institutional Trading of TXNM Energy

Several institutional investors have recently modified their holdings of TXNM. Bessemer Group Inc. purchased a new stake in shares of TXNM Energy during the fourth quarter valued at $27,000. Aster Capital Management DIFC Ltd purchased a new stake in TXNM Energy in the 4th quarter worth about $38,000. LRI Investments LLC acquired a new position in TXNM Energy in the 4th quarter worth about $40,000. Nomura Asset Management Co. Ltd. acquired a new position in TXNM Energy in the 4th quarter worth about $48,000. Finally, NewEdge Advisors LLC acquired a new position in shares of TXNM Energy during the 4th quarter valued at about $53,000. Institutional investors and hedge funds 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.