TXNM Energy, Inc. (NYSE:TXNM) Given Average Rating of “Moderate Buy” by Brokerages

TXNM Energy, Inc. (NYSE:TXNM) has been assigned a consensus recommendation of “Moderate Buy” from the seven research firms that are covering the stock, Marketbeat reports. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $53.43.

Several research analysts have weighed in on the company. Barclays lifted their target price on TXNM Energy from $49.00 to $56.00 and gave the stock an “overweight” rating in a report on Tuesday, March 4th. Citigroup lifted their price target on TXNM Energy from $45.00 to $53.00 and gave the company a “neutral” rating in a research note on Thursday, December 12th. Evercore ISI raised TXNM Energy from an “in-line” rating to an “outperform” rating and lifted their price target for the company from $51.00 to $54.00 in a research note on Tuesday, February 11th. 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 note on Tuesday. Finally, Scotiabank lifted their price target on TXNM Energy from $52.00 to $55.00 and gave the company a “sector perform” rating in a research note on Monday, February 24th.

Hedge Funds Weigh In On TXNM Energy

Hedge funds and other institutional investors have recently bought and sold shares of the business. Bessemer Group Inc. bought a new stake in shares of TXNM Energy during the fourth quarter worth approximately $27,000. Aster Capital Management DIFC Ltd bought a new stake in shares of TXNM Energy during the fourth quarter worth approximately $38,000. LRI Investments LLC bought a new stake in shares of TXNM Energy during the fourth quarter worth approximately $40,000. Nomura Asset Management Co. Ltd. bought a new stake in shares of TXNM Energy during the fourth quarter worth approximately $48,000. Finally, NewEdge Advisors LLC bought a new stake in shares of TXNM Energy during the fourth quarter worth approximately $53,000. Institutional investors own 91.68% of the company’s stock.

TXNM Energy Stock Performance

TXNM stock opened at $51.21 on Friday. The business’s 50-day moving average price is $49.19 and its two-hundred day moving average price is $46.54. 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 firm has a market cap of $4.75 billion, a PE ratio of 26.67, a P/E/G ratio of 6.12 and a beta of 0.32. TXNM Energy has a 1-year low of $39.60 and a 1-year high of $54.90.

TXNM Energy (NYSE:TXNM) last posted its earnings results on Friday, February 21st. The company reported $0.30 earnings per share 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, research analysts forecast that TXNM Energy will post 2.73 earnings per share for the current year.

TXNM Energy Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, May 16th. Investors 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 3.18%. The ex-dividend date is Friday, April 25th. TXNM Energy’s dividend payout ratio is currently 61.05%.

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.