TXNM Energy (NYSE:TXNM) Price Target Raised to $55.00 at Scotiabank

TXNM Energy (NYSE:TXNM) had its price objective upped by Scotiabank from $52.00 to $55.00 in a report published on Monday morning,Benzinga reports. The brokerage currently has a sector perform rating on the stock.

Several other analysts have also weighed in on TXNM. Citigroup upped their target price on TXNM Energy from $45.00 to $53.00 and gave the company a “neutral” rating in a report on Thursday, December 12th. Wells Fargo & Company raised their target price on shares of TXNM Energy from $49.00 to $53.00 and gave the company an “overweight” rating in a report on Tuesday, November 26th. Evercore ISI raised shares of TXNM Energy from an “in-line” rating to an “outperform” rating and upped their price target for the company from $51.00 to $54.00 in a report on Tuesday, February 11th. Finally, Barclays increased their price target on shares of TXNM Energy from $46.00 to $52.00 and gave the company an “overweight” rating in a research report on Friday, November 29th. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $52.83.

TXNM Energy Stock Down 1.6 %

Shares of NYSE TXNM opened at $52.38 on Monday. The stock has a market capitalization of $4.72 billion, a price-to-earnings ratio of 27.28, a price-to-earnings-growth ratio of 6.12 and a beta of 0.40. TXNM Energy has a 52 week low of $35.35 and a 52 week high of $54.90. The firm has a 50-day moving average price of $48.69 and a 200 day moving average price of $45.74. The company has a quick ratio of 0.27, a current ratio of 0.36 and a debt-to-equity ratio of 1.80.

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

TXNM Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Friday, January 31st were given a $0.4075 dividend. This is a boost from TXNM Energy’s previous quarterly dividend of $0.39. This represents a $1.63 dividend on an annualized basis and a yield of 3.11%. 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

Hedge funds and other institutional investors have recently modified their holdings of the business. Xponance Inc. purchased a new position in TXNM Energy in the fourth quarter valued at about $625,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS acquired a new stake in shares of TXNM Energy during the fourth quarter worth $8,369,000. Sei Investments Co. bought a new position in TXNM Energy in the fourth quarter worth about $9,270,000. LPL Financial LLC bought a new stake in shares of TXNM Energy in the 4th quarter worth approximately $470,000. Finally, Vanguard Group Inc. bought a new stake in TXNM Energy in the fourth quarter valued at $497,880,000. 91.68% of the stock is owned by hedge funds and other 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.