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

TXNM Energy (NYSE:TXNM) had its price target increased by Mizuho from $50.00 to $53.00 in a report issued on Monday,Benzinga reports. The firm currently has a neutral rating on the stock.

Several other research analysts have also issued reports on the stock. Citigroup increased their price target on shares of TXNM Energy from $45.00 to $53.00 and gave the stock a “neutral” rating in a research note on Thursday, December 12th. Barclays upped their target price on shares of TXNM Energy from $46.00 to $52.00 and gave the company an “overweight” rating in a research note on Friday, November 29th. Wells Fargo & Company raised their price target on TXNM Energy from $49.00 to $53.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 26th. Scotiabank upped 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. Finally, Evercore ISI raised TXNM Energy from an “in-line” rating to an “outperform” rating and raised their price objective for the stock from $51.00 to $54.00 in a research note on Tuesday, February 11th. Three analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $52.86.

TXNM Energy Price Performance

NYSE:TXNM opened at $52.18 on Monday. TXNM Energy has a 52-week low of $35.35 and a 52-week high of $54.90. The company has a debt-to-equity ratio of 1.80, a quick ratio of 0.27 and a current ratio of 0.36. The firm has a market capitalization of $4.71 billion, a price-to-earnings ratio of 27.18, a P/E/G ratio of 6.12 and a beta of 0.40. The stock has a fifty day moving average of $49.07 and a 200 day moving average of $46.13.

TXNM Energy (NYSE:TXNM) last issued its earnings results on Friday, February 21st. The company reported $0.30 earnings per share for the quarter, meeting the consensus estimate of $0.30. The company had revenue of $476.96 million during the quarter, compared to analysts’ expectations 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 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 given a $0.4075 dividend. This represents a $1.63 dividend on an annualized basis and a dividend yield of 3.12%. The ex-dividend date is Friday, April 25th. TXNM Energy’s payout ratio is currently 61.05%.

Institutional Trading of TXNM Energy

A number of institutional investors have recently bought and sold shares of the stock. Bessemer Group Inc. purchased a new position in shares of TXNM Energy during the fourth quarter worth $27,000. Aster Capital Management DIFC Ltd acquired a new position in shares of TXNM Energy during the 4th quarter worth approximately $38,000. LRI Investments LLC purchased a new position in TXNM Energy in the 4th quarter valued at about $40,000. Nomura Asset Management Co. Ltd. acquired a new stake in TXNM Energy during the 4th quarter worth $48,000. Finally, NewEdge Advisors LLC acquired a new position in shares of TXNM Energy during the 4th quarter worth approximately $53,000. 91.68% of the stock is currently owned by institutional investors and hedge funds.

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.