Brokerages Set TXNM Energy, Inc. (NYSE:TXNM) Price Target at $58.42

Shares of TXNM Energy, Inc. (NYSE:TXNM) have been given an average rating of “Hold” by the eight analysts that are currently covering the firm, MarketBeat reports. Six equities research analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $58.4167.

Several equities analysts have recently issued reports on the stock. Weiss Ratings reissued a “hold (c+)” rating on shares of TXNM Energy in a report on Monday. Citigroup initiated coverage on TXNM Energy in a report on Thursday, October 9th. They set a “neutral” rating and a $61.25 target price on the stock. Finally, Jefferies Financial Group cut TXNM Energy from a “buy” rating to a “hold” rating and boosted their target price for the company from $58.00 to $61.25 in a research note on Monday, October 27th.

Insider Buying and Selling

In other TXNM Energy news, Director Vicky A. Bailey sold 1,800 shares of TXNM Energy stock in a transaction that occurred on Friday, November 14th. The shares were sold at an average price of $57.74, for a total value of $103,932.00. Following the transaction, the director owned 8,725 shares of the company’s stock, valued at approximately $503,781.50. The trade was a 17.10% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 1.28% of the company’s stock.

Hedge Funds Weigh In On TXNM Energy

A number of large investors have recently bought and sold shares of TXNM. Parallel Advisors LLC raised its holdings in shares of TXNM Energy by 15.9% in the second quarter. Parallel Advisors LLC now owns 1,331 shares of the company’s stock valued at $75,000 after purchasing an additional 183 shares during the last quarter. Federated Hermes Inc. grew its position in TXNM Energy by 3.3% in the second quarter. Federated Hermes Inc. now owns 6,314 shares of the company’s stock valued at $356,000 after purchasing an additional 199 shares in the last quarter. Oregon Public Employees Retirement Fund increased its stake in TXNM Energy by 1.1% in the 3rd quarter. Oregon Public Employees Retirement Fund now owns 19,139 shares of the company’s stock valued at $1,082,000 after buying an additional 200 shares during the last quarter. CWM LLC lifted its position in TXNM Energy by 8.9% during the 3rd quarter. CWM LLC now owns 2,738 shares of the company’s stock worth $155,000 after buying an additional 224 shares in the last quarter. Finally, Securian Asset Management Inc. boosted its stake in shares of TXNM Energy by 3.5% during the 2nd quarter. Securian Asset Management Inc. now owns 7,056 shares of the company’s stock worth $397,000 after buying an additional 238 shares during the last quarter. Institutional investors and hedge funds own 91.68% of the company’s stock.

TXNM Energy Stock Performance

Shares of NYSE:TXNM opened at $58.77 on Wednesday. The firm’s 50 day simple moving average is $57.70 and its 200 day simple moving average is $57.04. TXNM Energy has a fifty-two week low of $45.71 and a fifty-two week high of $59.06. The company has a market capitalization of $6.40 billion, a price-to-earnings ratio of 34.37, a P/E/G ratio of 2.79 and a beta of 0.16. The company has a debt-to-equity ratio of 1.35, a current ratio of 0.51 and a quick ratio of 0.36.

TXNM Energy (NYSE:TXNM) last issued its quarterly earnings data on Friday, October 31st. The company reported $1.33 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.44 by ($0.11). TXNM Energy had a net margin of 8.67% and a return on equity of 7.20%. The firm had revenue of $647.16 million for the quarter, compared to analyst estimates of $608.65 million. During the same quarter in the prior year, the firm posted $1.43 EPS. As a group, sell-side analysts forecast that TXNM Energy will post 2.73 earnings per share for the current year.

TXNM Energy Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 13th. Investors of record on Friday, January 30th will be paid a dividend of $0.4225 per share. This represents a $1.69 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date of this dividend is Friday, January 30th. This is a positive change from TXNM Energy’s previous quarterly dividend of $0.41. TXNM Energy’s dividend payout ratio (DPR) is currently 95.32%.

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. The segment owns and leases communications, office and other equipment, office space, vehicles, and real estate. It generates electricity using coal, natural gas and oil, and nuclear fuel and waste, as well as solar, wind, geothermal, and battery storage energy sources.