Barclays Forecasts Strong Price Appreciation for TXNM Energy (NYSE:TXNM) Stock

TXNM Energy (NYSE:TXNM) had its target price hoisted by equities researchers at Barclays from $56.00 to $57.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Barclays‘s target price indicates a potential upside of 4.64% from the stock’s previous close.

A number of other equities research analysts have also weighed in 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 report on Tuesday, November 26th. Scotiabank boosted their target price on shares of TXNM Energy from $52.00 to $55.00 and gave the stock a “sector perform” rating in a report on Monday, February 24th. Mizuho raised shares of TXNM Energy from a “neutral” rating to an “outperform” rating and set a $53.00 target price on the stock in a report on Tuesday, March 11th. Citigroup boosted their target price on shares of TXNM Energy from $45.00 to $53.00 and gave the stock a “neutral” rating in a report on Thursday, December 12th. Finally, Evercore ISI raised shares of 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 report on Tuesday, February 11th. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $53.57.

TXNM Energy Price Performance

TXNM Energy stock opened at $54.48 on Tuesday. The stock has a 50-day moving average price of $49.73 and a two-hundred day moving average price of $46.97. TXNM Energy has a 12 month low of $39.60 and a 12 month high of $55.50. The company has a market capitalization of $5.05 billion, a PE ratio of 28.37, a P/E/G ratio of 6.12 and a beta of 0.32. The company has a current ratio of 0.36, a quick ratio of 0.27 and a debt-to-equity ratio of 1.80.

TXNM Energy (NYSE:TXNM) last issued its quarterly earnings data on Friday, February 21st. The company reported $0.30 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.30. TXNM Energy had a net margin of 9.26% and a return on equity of 9.69%. The business had revenue of $476.96 million during the quarter, compared to analyst estimates of $496.05 million. Analysts expect that TXNM Energy will post 2.73 EPS for the current year.

Institutional Investors Weigh In On TXNM Energy

Institutional investors have recently modified their holdings of the company. Bessemer Group Inc. acquired a new position in shares of TXNM Energy during the 4th quarter valued at $27,000. Aster Capital Management DIFC Ltd acquired a new position in shares of TXNM Energy during the 4th quarter valued at $38,000. LRI Investments LLC acquired a new position in shares of TXNM Energy during the 4th quarter valued at $40,000. Nomura Asset Management Co. Ltd. acquired a new position in shares of TXNM Energy during the 4th quarter valued at $48,000. Finally, NewEdge Advisors LLC acquired a new position in shares of TXNM Energy during the 4th quarter valued at $53,000. 91.68% of the stock is owned by institutional investors.

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.