TXNM Energy, Inc. (NYSE:TXNM) Receives $52.00 Consensus Target Price from Analysts

Shares of TXNM Energy, Inc. (NYSE:TXNM) have been assigned a consensus rating of “Moderate Buy” from the six brokerages that are currently covering the stock, MarketBeat Ratings reports. Two investment analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $52.33.

A number of analysts recently issued reports on TXNM shares. Scotiabank lifted their price objective on TXNM Energy from $46.00 to $52.00 and gave the company a “sector perform” rating in a research report on Thursday, December 12th. Evercore ISI raised TXNM Energy from an “in-line” rating to an “outperform” rating and lifted their price objective for the company from $51.00 to $54.00 in a research report on Tuesday, February 11th. Wells Fargo & Company lifted their price objective on TXNM Energy from $49.00 to $53.00 and gave the company an “overweight” rating in a research report on Tuesday, November 26th. Barclays boosted their price target on TXNM Energy from $46.00 to $52.00 and gave the stock an “overweight” rating in a research report on Friday, November 29th. Finally, Citigroup boosted their price target on TXNM Energy from $45.00 to $53.00 and gave the stock a “neutral” rating in a research report on Thursday, December 12th.

Hedge Funds Weigh In On TXNM Energy

A number of institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. bought a new position in TXNM Energy during the fourth quarter valued at about $497,880,000. T. Rowe Price Investment Management Inc. bought a new position in TXNM Energy during the fourth quarter valued at about $303,744,000. FMR LLC bought a new position in TXNM Energy during the fourth quarter valued at about $191,594,000. Fuller & Thaler Asset Management Inc. bought a new position in TXNM Energy during the fourth quarter valued at about $189,170,000. Finally, Zimmer Partners LP bought a new position in TXNM Energy during the fourth quarter valued at about $165,816,000. 91.68% of the stock is currently owned by institutional investors.

TXNM Energy Trading Up 0.4 %

TXNM opened at $50.21 on Tuesday. The firm has a market capitalization of $4.53 billion, a PE ratio of 26.15, a price-to-earnings-growth ratio of 5.91 and a beta of 0.40. TXNM Energy has a 1 year low of $35.35 and a 1 year high of $51.16. 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 company’s fifty day moving average price is $48.36.

TXNM Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Friday, January 31st were paid a $0.4075 dividend. The ex-dividend date of this dividend was Friday, January 31st. This is a positive change from TXNM Energy’s previous quarterly dividend of $0.39. This represents a $1.63 dividend on an annualized basis and a dividend yield of 3.25%. TXNM Energy’s payout ratio is presently 84.90%.

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.