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

TXNM Energy (NYSE:TXNM)‘s stock had its “overweight” rating reissued by analysts at Barclays in a research note issued on Wednesday, MarketBeat.com reports. They presently have a $61.00 price target on the stock, up from their prior price target of $57.00. Barclays‘s target price indicates a potential upside of 8.14% from the company’s current price.

A number of other research firms also recently commented on TXNM. Mizuho downgraded TXNM Energy from a “strong-buy” rating to a “hold” rating in a report on Tuesday. Evercore ISI upgraded TXNM Energy from an “in-line” rating to an “outperform” rating and raised their price objective for the stock from $51.00 to $54.00 in a report on Tuesday, February 11th. Finally, Scotiabank raised their price objective on TXNM Energy from $55.00 to $60.00 and gave the stock a “sector perform” rating in a report on Tuesday. One analyst has rated the stock with a sell rating, three have given a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, TXNM Energy currently has a consensus rating of “Hold” and a consensus target price of $54.86.

TXNM Energy Stock Performance

TXNM Energy stock opened at $56.41 on Wednesday. The stock’s 50-day moving average is $53.11 and its 200-day moving average is $50.25. The company has a market cap 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. 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 12 month low of $39.60 and a 12 month high of $57.29.

TXNM Energy (NYSE:TXNM) last released its quarterly earnings data on Friday, May 9th. The company reported $0.19 EPS for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.01). The firm had revenue of $482.79 million during the quarter, compared to analysts’ expectations of $451.01 million. TXNM Energy had a return on equity of 9.69% and a net margin of 9.26%. The business’s revenue for the quarter was up 10.5% on a year-over-year basis. Equities analysts anticipate that TXNM Energy will post 2.73 earnings per share for the current year.

Institutional Investors Weigh In On TXNM Energy

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. increased its holdings in TXNM Energy by 3.6% during the 1st quarter. Vanguard Group Inc. now owns 10,487,634 shares of the company’s stock worth $560,879,000 after purchasing an additional 361,945 shares during the last quarter. T. Rowe Price Investment Management Inc. acquired a new position in shares of TXNM Energy in the 4th quarter worth approximately $303,744,000. FMR LLC acquired a new position in shares of TXNM Energy in the 4th quarter worth approximately $191,594,000. Fuller & Thaler Asset Management Inc. acquired a new position in shares of TXNM Energy in the 4th quarter worth approximately $189,170,000. Finally, Alliancebernstein L.P. grew its position in shares of TXNM Energy by 41.4% in the 1st quarter. Alliancebernstein L.P. now owns 3,560,321 shares of the company’s stock worth $190,406,000 after acquiring an additional 1,043,259 shares in the last quarter. 91.68% of the stock is currently 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.