TXNM Energy (NYSE:TXNM) Price Target Raised to $60.00 at Scotiabank

TXNM Energy (NYSE:TXNM) had its price objective increased by Scotiabank from $55.00 to $60.00 in a research note published on Tuesday,Benzinga reports. Scotiabank currently has a sector perform rating on the stock.

A number of other analysts have also recently weighed in on the stock. 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 research note on Tuesday, February 11th. 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 research note on Tuesday, March 11th. Finally, Barclays boosted their target price on shares of TXNM Energy from $56.00 to $57.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 18th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, TXNM Energy currently has a consensus rating of “Hold” and a consensus price target of $54.86.

TXNM Energy Stock Performance

Shares of NYSE:TXNM opened at $56.41 on Tuesday. The company’s 50 day simple moving average is $53.11 and its 200 day simple moving average is $50.25. The stock has a market capitalization of $5.23 billion, a price-to-earnings ratio of 29.38, a price-to-earnings-growth ratio of 6.12 and a beta of 0.11. 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 1 year low of $39.60 and a 1 year high of $57.29.

TXNM Energy (NYSE:TXNM) last posted its earnings results on Friday, May 9th. The company reported $0.19 earnings per share for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.01). The company had revenue of $482.79 million for the quarter, compared to the consensus estimate of $451.01 million. TXNM Energy had a return on equity of 9.69% and a net margin of 9.26%. The firm’s revenue was up 10.5% compared to the same quarter last year. As a group, research analysts predict that TXNM Energy will post 2.73 EPS for the current fiscal year.

TXNM Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, May 16th. Stockholders of record on Friday, April 25th were issued a dividend of $0.4075 per share. The ex-dividend date was Friday, April 25th. This represents a $1.63 dividend on an annualized basis and a dividend yield of 2.89%. TXNM Energy’s dividend payout ratio (DPR) is presently 72.44%.

Hedge Funds Weigh In On TXNM Energy

A number of hedge funds have recently modified their holdings of TXNM. Hughes Financial Services LLC acquired a new position in shares of TXNM Energy during the first quarter worth $25,000. Bessemer Group Inc. acquired a new position in TXNM Energy in the fourth quarter valued at $27,000. Versant Capital Management Inc acquired a new position in TXNM Energy in the first quarter valued at $35,000. Aster Capital Management DIFC Ltd acquired a new position in TXNM Energy in the fourth quarter valued at $38,000. Finally, LRI Investments LLC acquired a new position in TXNM Energy in the fourth quarter valued at $40,000. Institutional investors and hedge funds own 91.68% of the company’s stock.

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.