Scotiabank Issues Positive Forecast for TXNM Energy (NYSE:TXNM) Stock Price

TXNM Energy (NYSE:TXNM) had its target price boosted by Scotiabank from $52.00 to $55.00 in a report released on Monday,Benzinga reports. Scotiabank currently has a sector perform rating on the stock.

A number of other equities analysts also recently 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 note on Tuesday, November 26th. Citigroup upped their price objective on TXNM Energy from $45.00 to $53.00 and gave the stock a “neutral” rating in a research report on Thursday, December 12th. Evercore ISI upgraded 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 note on Tuesday, February 11th. Finally, Barclays upped their price target on TXNM Energy from $46.00 to $52.00 and gave the company an “overweight” rating in a report on Friday, November 29th. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $52.83.

TXNM Energy Price Performance

TXNM stock opened at $52.38 on Monday. The business’s fifty day moving average price is $48.69 and its 200 day moving average price is $45.74. TXNM Energy has a 12-month low of $35.35 and a 12-month high of $54.90. The company has a current ratio of 0.36, a quick ratio of 0.27 and a debt-to-equity ratio of 1.80. The company has a market capitalization of $4.72 billion, a PE ratio of 27.28, a P/E/G ratio of 6.12 and a beta of 0.40.

TXNM Energy (NYSE:TXNM) last issued its quarterly earnings results on Friday, February 21st. The company reported $0.30 EPS 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 net margin of 9.26% and a return on equity of 9.69%. On average, sell-side analysts anticipate that TXNM Energy will post 2.73 EPS for the current year.

TXNM Energy Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Friday, January 31st were issued a $0.4075 dividend. This represents a $1.63 dividend on an annualized basis and a dividend yield of 3.11%. This is a boost from TXNM Energy’s previous quarterly dividend of $0.39. The ex-dividend date of this dividend was Friday, January 31st. TXNM Energy’s dividend payout ratio is presently 61.05%.

Institutional Trading of TXNM Energy

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. purchased a new stake in shares of TXNM Energy during the fourth quarter worth approximately $497,880,000. T. Rowe Price Investment Management Inc. purchased a new position in TXNM Energy during the 4th quarter worth $303,744,000. FMR LLC acquired a new stake in shares of TXNM Energy in the 4th quarter worth $191,594,000. Fuller & Thaler Asset Management Inc. purchased a new stake in shares of TXNM Energy in the fourth quarter valued at about $189,170,000. Finally, Zimmer Partners LP acquired a new position in shares of TXNM Energy during the fourth quarter worth about $165,816,000. 91.68% of the stock is owned by hedge funds and other institutional investors.

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.