Barclays Reaffirms Overweight Rating for TXNM Energy (NYSE:TXNM)

Barclays reaffirmed their overweight rating on shares of TXNM Energy (NYSE:TXNM - Free Report) in a research report released on Wednesday, MarketBeat Ratings reports. The firm currently has a $61.00 target price on the stock, up from their prior target price of $57.00.

Several other equities research analysts have also recently commented on the company. Evercore ISI raised 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 report on Tuesday, February 11th. Mizuho downgraded TXNM Energy from a "strong-buy" rating to a "hold" rating in a research note on Tuesday. Finally, Scotiabank raised their target price on TXNM Energy from $55.00 to $60.00 and gave the company a "sector perform" rating in a research note on Tuesday. One analyst has rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the stock. According to MarketBeat, TXNM Energy currently has an average rating of "Hold" and an average target price of $54.86.

TXNM Energy Stock Performance

Shares of NYSE TXNM traded up $0.30 during midday trading on Wednesday, hitting $56.68. 3,248,908 shares of the company's stock were exchanged, compared to its average volume of 973,369. TXNM Energy has a twelve month low of $39.60 and a twelve month high of $57.29. The firm has a market cap of $5.25 billion, a P/E ratio of 29.52, a PEG ratio of 6.12 and a beta of 0.11. The stock's 50 day moving average price is $53.15 and its 200-day moving average price is $50.34. 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 (NYSE:TXNM - Get Free Report) last announced its earnings results on Friday, May 9th. The company reported $0.19 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.20 by ($0.01). The company had revenue of $482.79 million during the quarter, compared to the consensus estimate of $451.01 million. TXNM Energy had a net margin of 9.26% and a return on equity of 9.69%. The company's revenue was up 10.5% on a year-over-year basis. Equities research analysts anticipate that TXNM Energy will post 2.73 EPS for the current year.

TXNM Energy Dividend Announcement

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

Institutional Inflows and Outflows

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

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.