TXNM Energy (NYSE:TXNM) Price Target Raised to $57.00

TXNM Energy (NYSE:TXNM) had its price objective increased by equities researchers at Barclays from $56.00 to $57.00 in a report issued on Tuesday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Barclays‘s target price points to a potential upside of 4.64% from the stock’s previous close.

Several other research firms have also weighed in on TXNM. Citigroup increased their price target on shares of TXNM Energy from $45.00 to $53.00 and gave the company a “neutral” rating in a research report on Thursday, December 12th. Mizuho upgraded shares of TXNM Energy from a “neutral” rating to an “outperform” rating and set a $53.00 price target for the company in a research report on Tuesday, March 11th. Wells Fargo & Company increased their target price on shares of TXNM Energy from $49.00 to $53.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 26th. Scotiabank increased their target price on shares of TXNM Energy from $52.00 to $55.00 and gave the stock a “sector perform” rating in a research report on Monday, February 24th. Finally, Evercore ISI upgraded shares of TXNM Energy from an “in-line” rating to an “outperform” rating and increased their target price for the stock from $51.00 to $54.00 in a research report on Tuesday, February 11th. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, TXNM Energy has a consensus rating of “Moderate Buy” and a consensus target price of $53.57.

TXNM Energy Stock Performance

Shares of TXNM stock opened at $54.48 on Tuesday. The firm has a 50-day moving average of $49.73 and a 200-day moving average of $46.97. The company has a market cap of $5.05 billion, a P/E ratio of 28.37, a P/E/G ratio of 6.12 and a beta of 0.32. 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 has a one year low of $39.60 and a one year high of $55.50.

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

Institutional Investors Weigh In On TXNM Energy

A number of institutional investors and hedge funds have recently modified their holdings of TXNM. Bessemer Group Inc. purchased a new stake in shares of TXNM Energy in the fourth quarter worth about $27,000. Aster Capital Management DIFC Ltd purchased a new stake in TXNM Energy in the fourth quarter valued at approximately $38,000. LRI Investments LLC purchased a new stake in TXNM Energy in the fourth quarter valued at approximately $40,000. Nomura Asset Management Co. Ltd. purchased a new stake in TXNM Energy in the fourth quarter valued at approximately $48,000. Finally, NewEdge Advisors LLC purchased a new stake in TXNM Energy in the fourth quarter valued at approximately $53,000. 91.68% of the stock is owned by hedge funds and other institutional investors.

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.