Brokerages Set TXNM Energy, Inc. (NYSE:TXNM) Price Target at $59.30

Shares of TXNM Energy, Inc. (NYSE:TXNM) have earned an average recommendation of “Hold” from the seven analysts that are covering the firm, Marketbeat reports. Six research analysts have rated the stock with a hold recommendation and one has issued a buy recommendation on the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $59.30.

TXNM has been the topic of a number of analyst reports. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of TXNM Energy in a research note on Monday, December 29th. Wall Street Zen upgraded shares of TXNM Energy from a “sell” rating to a “hold” rating in a report on Saturday, February 21st.

Institutional Investors Weigh In On TXNM Energy

Several hedge funds have recently made changes to their positions in TXNM. Balyasny Asset Management L.P. grew its position in shares of TXNM Energy by 344.9% in the third quarter. Balyasny Asset Management L.P. now owns 4,042,301 shares of the company’s stock valued at $228,592,000 after purchasing an additional 3,133,794 shares during the period. Norges Bank purchased a new stake in TXNM Energy in the 4th quarter valued at about $182,061,000. Vanguard Group Inc. increased its stake in shares of TXNM Energy by 16.0% during the 3rd quarter. Vanguard Group Inc. now owns 11,568,926 shares of the company’s stock valued at $654,223,000 after acquiring an additional 1,598,954 shares during the last quarter. Citadel Advisors LLC lifted its holdings in shares of TXNM Energy by 19,952.4% during the 3rd quarter. Citadel Advisors LLC now owns 1,007,033 shares of the company’s stock worth $56,948,000 after acquiring an additional 1,002,011 shares during the period. Finally, LMR Partners LLP purchased a new position in shares of TXNM Energy during the 2nd quarter worth about $48,291,000. Institutional investors and hedge funds own 91.68% of the company’s stock.

TXNM Energy Price Performance

Shares of NYSE TXNM opened at $58.94 on Monday. The company has a debt-to-equity ratio of 1.48, a quick ratio of 0.36 and a current ratio of 0.55. TXNM Energy has a one year low of $47.21 and a one year high of $59.52. The firm has a market capitalization of $6.42 billion, a P/E ratio of 40.37, a PEG ratio of 2.52 and a beta of 0.17. The company’s fifty day moving average is $59.08 and its two-hundred day moving average is $57.94.

TXNM Energy (NYSE:TXNM) last announced its quarterly earnings data on Friday, February 27th. The company reported $0.48 EPS for the quarter, missing the consensus estimate of $0.60 by ($0.12). The company had revenue of $533.23 million during the quarter, compared to analyst estimates of $593.29 million. TXNM Energy had a net margin of 7.27% and a return on equity of 7.54%. During the same quarter last year, the business earned $0.30 EPS. Analysts forecast that TXNM Energy will post 2.73 EPS for the current fiscal year.

TXNM Energy Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 15th. Shareholders of record on Monday, April 27th will be paid a $0.4225 dividend. This represents a $1.69 annualized dividend and a yield of 2.9%. The ex-dividend date of this dividend is Monday, April 27th. TXNM Energy’s payout ratio is presently 115.75%.

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. 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.