Barclays Boosts TXNM Energy (NYSE:TXNM) Price Target to $61.00

TXNM Energy (NYSE:TXNM) had its price objective raised by analysts at Barclays from $57.00 to $61.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Barclays‘s target price suggests a potential upside of 8.14% from the company’s previous close.

Several other analysts have also recently commented on TXNM. Mizuho cut shares of TXNM Energy from a “strong-buy” rating to a “hold” rating in a research note on Tuesday. Scotiabank increased their price target on shares of TXNM Energy from $55.00 to $60.00 and gave the company a “sector perform” rating in a research note on Tuesday. Finally, Evercore ISI raised shares of TXNM Energy from an “in-line” rating to an “outperform” rating and increased their price target for the company from $51.00 to $54.00 in a research note on Tuesday, February 11th. One analyst has rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $54.86.

TXNM Energy Stock Up 0.2%

TXNM stock opened at $56.41 on Wednesday. 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 52-week low of $39.60 and a 52-week high of $57.29. The company has a 50-day moving average of $53.11 and a two-hundred day moving average of $50.25. The stock has a market capitalization of $5.23 billion, a price-to-earnings ratio of 29.38, a price-to-earnings-growth ratio of 6.12 and a beta of 0.11.

TXNM Energy (NYSE:TXNM) last released its quarterly 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 firm had revenue of $482.79 million for 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 business’s revenue for the quarter was up 10.5% compared to the same quarter last year. As a group, equities research analysts anticipate that TXNM Energy will post 2.73 EPS for the current year.

Institutional Investors Weigh In On TXNM Energy

A number of institutional investors have recently added to or reduced their stakes in the business. Hughes Financial Services LLC bought a new stake in shares of TXNM Energy in the 1st quarter valued at $25,000. Bessemer Group Inc. bought a new stake in shares of TXNM Energy in the 4th quarter valued at $27,000. Versant Capital Management Inc bought a new stake in shares of TXNM Energy in the 1st quarter valued at $35,000. Aster Capital Management DIFC Ltd bought a new stake in shares of TXNM Energy in the 4th quarter valued at $38,000. Finally, LRI Investments LLC bought a new stake in shares of TXNM Energy in the 4th quarter valued at $40,000. 91.68% of the stock is owned by 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.