Brokerages Set TXNM Energy, Inc. (NYSE:TXNM) Target Price at $52.00

TXNM Energy, Inc. (NYSE:TXNM) has been assigned an average rating of “Moderate Buy” from the six brokerages that are presently covering the company, Marketbeat Ratings reports. Two analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $52.33.

Several analysts have commented on the stock. Wells Fargo & Company boosted their target price on shares of TXNM Energy from $49.00 to $53.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 26th. Evercore ISI raised shares of TXNM Energy from an “in-line” rating to an “outperform” rating and boosted their target price for the stock from $51.00 to $54.00 in a research report on Tuesday. Scotiabank raised their price objective on TXNM Energy from $46.00 to $52.00 and gave the stock a “sector perform” rating in a research report on Thursday, December 12th. Citigroup upped their price target on TXNM Energy from $45.00 to $53.00 and gave the company a “neutral” rating in a research report on Thursday, December 12th. Finally, Barclays raised their target price on TXNM Energy from $46.00 to $52.00 and gave the company an “overweight” rating in a research note on Friday, November 29th.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the business. CANADA LIFE ASSURANCE Co bought a new stake in shares of TXNM Energy in the 4th quarter valued at about $2,795,000. NewEdge Advisors LLC acquired a new position in TXNM Energy during the fourth quarter worth approximately $53,000. GABELLI & Co INVESTMENT ADVISERS INC. bought a new stake in TXNM Energy in the fourth quarter valued at approximately $1,033,000. Gamco Investors INC. ET AL bought a new stake in TXNM Energy in the fourth quarter valued at approximately $38,422,000. Finally, Gabelli Funds LLC acquired a new stake in shares of TXNM Energy in the fourth quarter valued at approximately $32,270,000. Institutional investors own 91.68% of the company’s stock.

TXNM Energy Price Performance

Shares of TXNM opened at $50.06 on Tuesday. TXNM Energy has a fifty-two week low of $35.35 and a fifty-two week high of $50.28. The company has a quick ratio of 0.27, a current ratio of 0.36 and a debt-to-equity ratio of 1.80. The firm has a market cap of $4.52 billion, a P/E ratio of 26.07, a price-to-earnings-growth ratio of 5.91 and a beta of 0.40. The firm has a 50-day simple moving average of $48.34.

TXNM Energy Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Friday, January 31st will be issued a $0.4075 dividend. This represents a $1.63 dividend on an annualized basis and a dividend yield of 3.26%. This is a positive change from TXNM Energy’s previous quarterly dividend of $0.39. The ex-dividend date of this dividend is Friday, January 31st. TXNM Energy’s payout ratio is 84.90%.

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.