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

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

Several other research analysts also recently commented on TXNM. Barclays lifted their target price on shares of TXNM Energy from $46.00 to $52.00 and gave the stock an “overweight” rating in a research note on Friday, November 29th. Wells Fargo & Company raised their target price on TXNM Energy from $49.00 to $53.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 26th. Evercore ISI raised 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 research report on Tuesday, February 11th. Finally, Citigroup lifted their price target on shares of TXNM Energy from $45.00 to $53.00 and gave the company a “neutral” rating in a report on Thursday, December 12th. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, TXNM Energy presently has a consensus rating of “Moderate Buy” and a consensus target price of $52.83.

TXNM Energy Stock Performance

TXNM Energy stock opened at $51.61 on Monday. The firm has a fifty day simple moving average of $48.76 and a two-hundred day simple moving average of $45.82. TXNM Energy has a twelve month low of $35.35 and a twelve month high of $54.90. The company has a market capitalization of $4.66 billion, a PE ratio of 26.88, a P/E/G ratio of 6.12 and a beta of 0.40. 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 released its earnings results on Friday, February 21st. The company reported $0.30 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.30. The company had revenue of $476.96 million during the quarter, compared to analyst estimates of $496.05 million. TXNM Energy had a return on equity of 9.69% and a net margin of 9.26%. Research analysts expect that TXNM Energy will post 2.73 EPS for the current year.

TXNM Energy Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, May 16th. Investors of record on Friday, April 25th will be paid a $0.4075 dividend. The ex-dividend date is Friday, April 25th. This represents a $1.63 annualized dividend and a yield of 3.16%. TXNM Energy’s payout ratio is 61.05%.

Hedge Funds Weigh In On TXNM Energy

Several institutional investors and hedge funds have recently added to or reduced their stakes in TXNM. Xponance Inc. bought a new position in shares of TXNM Energy during the fourth quarter valued at approximately $625,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS bought a new position in TXNM Energy during the 4th quarter valued at approximately $8,369,000. Sei Investments Co. purchased a new position in TXNM Energy during the fourth quarter valued at $9,270,000. LPL Financial LLC bought a new stake in TXNM Energy in the fourth quarter worth $470,000. Finally, Vanguard Group Inc. purchased a new stake in shares of TXNM Energy in the fourth quarter worth $497,880,000. Hedge funds and other institutional investors 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.