TXNM Energy, Inc. (NYSE:TXNM) Receives $54.86 Consensus Target Price from Brokerages

TXNM Energy, Inc. (NYSE:TXNM - Get Free Report) has received an average recommendation of "Moderate Buy" from the seven ratings firms that are presently covering the firm, Marketbeat reports. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $54.86.

Several brokerages have recently commented on TXNM. Wall Street Zen downgraded shares of TXNM Energy from a "hold" rating to a "sell" rating in a research note on Thursday. Scotiabank boosted their price target on TXNM Energy from $55.00 to $60.00 and gave the company a "sector perform" rating in a report on Tuesday. Barclays reiterated an "overweight" rating and issued a $61.00 price objective (up previously from $57.00) on shares of TXNM Energy in a report on Wednesday. Evercore ISI upgraded TXNM Energy from an "in-line" rating to an "outperform" rating and lifted their price objective for the stock from $51.00 to $54.00 in a research report on Tuesday, February 11th. Finally, Mizuho cut TXNM Energy from a "strong-buy" rating to a "hold" rating in a research note on Tuesday.

Hedge Funds Weigh In On TXNM Energy

Institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. purchased a new stake in shares of TXNM Energy in the 4th quarter worth about $497,880,000. T. Rowe Price Investment Management Inc. bought a new stake in TXNM Energy during the fourth quarter worth about $303,744,000. FMR LLC bought a new stake in TXNM Energy during the fourth quarter worth about $191,594,000. Fuller & Thaler Asset Management Inc. purchased a new stake in TXNM Energy in the fourth quarter worth about $189,170,000. Finally, Zimmer Partners LP bought a new position in shares of TXNM Energy during the fourth quarter valued at approximately $165,816,000. Institutional investors own 91.68% of the company's stock.

TXNM Energy Trading Up 0.5%

TXNM stock traded up $0.30 during trading on Thursday, hitting $56.68. 3,248,908 shares of the company traded hands, compared to its average volume of 973,369. The firm has a market capitalization of $5.25 billion, a PE ratio of 29.52, a P/E/G ratio of 6.12 and a beta of 0.11. TXNM Energy has a 1 year low of $39.60 and a 1 year high of $57.29. The company has a 50-day moving average of $53.15 and a 200-day moving average of $50.34. The company has a debt-to-equity ratio of 1.80, a quick ratio of 0.27 and a current ratio of 0.36.

TXNM Energy (NYSE:TXNM - Get Free Report) last announced its quarterly earnings data on Friday, May 9th. The company reported $0.19 earnings per share for the quarter, missing the consensus estimate of $0.20 by ($0.01). TXNM Energy had a net margin of 9.26% and a return on equity of 9.69%. The company had revenue of $482.79 million during the quarter, compared to the consensus estimate of $451.01 million. The company's quarterly revenue was up 10.5% compared to the same quarter last year. Analysts predict that TXNM Energy will post 2.73 earnings per share for the current fiscal year.

TXNM Energy Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 16th. Stockholders of record on Friday, April 25th were paid a $0.4075 dividend. This represents a $1.63 dividend on an annualized basis and a dividend yield of 2.88%. The ex-dividend date of this dividend was Friday, April 25th. TXNM Energy's payout ratio is presently 72.44%.

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.