TXNM Energy (NYSE:TXNM) Upgraded at Evercore ISI

Evercore ISI upgraded shares of TXNM Energy (NYSE:TXNM) from an in-line rating to an outperform rating in a research note released on Tuesday morning, Marketbeat reports. They currently have $54.00 target price on the stock, up from their previous target price of $51.00.

TXNM has been the topic of a number of other reports. Barclays boosted their price objective on 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 boosted their price target on TXNM Energy from $49.00 to $53.00 and gave the company an “overweight” rating in a research note on Tuesday, November 26th. Scotiabank raised their price objective on shares of TXNM Energy from $46.00 to $52.00 and gave the stock a “sector perform” rating in a research report on Thursday, December 12th. Finally, Citigroup boosted their target price on shares of TXNM Energy from $45.00 to $53.00 and gave the company a “neutral” rating in a research report on Thursday, December 12th. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $52.33.

TXNM Energy Stock Down 0.1 %

Shares of NYSE TXNM opened at $50.06 on Tuesday. The company has a market capitalization of $4.52 billion, a P/E ratio of 26.07, a PEG ratio of 5.91 and a beta of 0.40. The company has a debt-to-equity ratio of 1.80, a current ratio of 0.36 and a quick ratio of 0.27. TXNM Energy has a twelve month low of $35.35 and a twelve month high of $50.28. The business’s fifty day moving average price is $48.34.

TXNM Energy Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Friday, January 31st will be given a $0.4075 dividend. The ex-dividend date of this dividend is Friday, January 31st. This represents a $1.63 annualized dividend and a yield of 3.26%. This is an increase from TXNM Energy’s previous quarterly dividend of $0.39. TXNM Energy’s dividend payout ratio (DPR) is presently 84.90%.

Institutional Investors Weigh In On TXNM Energy

A number of institutional investors and hedge funds have recently made changes to their positions in TXNM. Vanguard Group Inc. acquired a new position in TXNM Energy during the 4th quarter valued at about $497,880,000. FMR LLC bought a new position in shares of TXNM Energy in the fourth quarter valued at approximately $191,594,000. Alliancebernstein L.P. purchased a new stake in shares of TXNM Energy in the fourth quarter valued at about $123,764,000. Geode Capital Management LLC bought a new position in shares of TXNM Energy during the fourth quarter valued at about $105,148,000. Finally, Franklin Resources Inc. purchased a new position in TXNM Energy during the fourth quarter worth about $79,524,000. Institutional investors and hedge funds 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.