TXNM Energy (NYSE:TXNM) Price Target Raised to $57.00 at Barclays

TXNM Energy (NYSE:TXNM) had its target price lifted by Barclays from $56.00 to $57.00 in a research report sent to investors on Tuesday,Benzinga reports. Barclays currently has an overweight rating on the stock.

Several other equities research analysts have also recently commented on TXNM. Citigroup boosted their target price on TXNM Energy from $45.00 to $53.00 and gave the company a “neutral” rating in a research note on Thursday, December 12th. Scotiabank upped their price objective on TXNM Energy from $52.00 to $55.00 and gave the company a “sector perform” rating in a report on Monday, February 24th. Evercore ISI raised TXNM Energy from an “in-line” rating to an “outperform” rating and upped their price objective for the company from $51.00 to $54.00 in a report on Tuesday, February 11th. 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. Finally, Mizuho upgraded TXNM Energy from a “neutral” rating to an “outperform” rating and set a $53.00 target price for the company in a research report on Tuesday, March 11th. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $53.57.

TXNM Energy Stock Up 3.2 %

Shares of NYSE TXNM opened at $54.50 on Tuesday. The stock has a market cap of $5.05 billion, a PE ratio of 28.38, a PEG ratio of 6.12 and a beta of 0.32. The business has a fifty day moving average of $49.59 and a two-hundred day moving average of $46.92. TXNM Energy has a 52-week low of $39.60 and a 52-week high of $55.50. 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 (NYSE:TXNM) last announced its earnings results on Friday, February 21st. The company reported $0.30 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.30. The company had revenue of $476.96 million during 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, equities research analysts expect that TXNM Energy will post 2.73 earnings per share for the current fiscal year.

TXNM Energy Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 16th. Investors of record on Friday, April 25th will be issued a dividend of $0.4075 per share. The ex-dividend date of this dividend is Friday, April 25th. This represents a $1.63 dividend on an annualized basis and a yield of 2.99%. TXNM Energy’s dividend payout ratio (DPR) is currently 61.05%.

Institutional Investors Weigh In On TXNM Energy

Several large investors have recently added to or reduced their stakes in TXNM. Xponance Inc. purchased a new stake in shares of TXNM Energy in the fourth quarter worth $625,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS bought a new position in shares of TXNM Energy during the 4th quarter valued at about $8,369,000. Sei Investments Co. bought a new position in shares of TXNM Energy during the 4th quarter valued at about $9,270,000. LPL Financial LLC purchased a new stake in TXNM Energy during the 4th quarter valued at about $470,000. Finally, Vanguard Group Inc. purchased a new stake in TXNM Energy during the 4th quarter valued at about $497,880,000. Hedge funds and other institutional investors own 91.68% of the company’s stock.

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.