Brokerages Set TXNM Energy, Inc. (NYSE:TXNM) Target Price at $60.88

Shares of TXNM Energy, Inc. (NYSE:TXNM) have earned a consensus rating of “Hold” from the seven analysts that are presently covering the stock, Marketbeat Ratings reports. Six equities research analysts have rated the stock with a hold recommendation and one has given a buy recommendation to the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $60.8750.

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

TXNM Energy Stock Up 0.0%

Shares of NYSE:TXNM opened at $58.36 on Friday. TXNM Energy has a 52-week low of $47.69 and a 52-week high of $59.52. The company has a market capitalization of $6.36 billion, a PE ratio of 39.97, a price-to-earnings-growth ratio of 2.50 and a beta of 0.17. The company has a debt-to-equity ratio of 1.48, a quick ratio of 0.38 and a current ratio of 0.55. The company has a fifty day moving average of $58.92 and a 200-day moving average of $58.16.

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

TXNM Energy Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 15th. Shareholders of record on Monday, April 27th will be issued 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 Monday, April 27th. TXNM Energy’s payout ratio is presently 115.75%.

Hedge Funds Weigh In On TXNM Energy

Large investors have recently modified their holdings of the business. Federated Hermes Inc. increased its stake in shares of 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 buying an additional 199 shares during the period. Oregon Public Employees Retirement Fund lifted its stake in shares of TXNM Energy by 1.1% in the third quarter. Oregon Public Employees Retirement Fund now owns 19,139 shares of the company’s stock worth $1,082,000 after acquiring an additional 200 shares during the period. Bank of Montreal Can lifted its stake in shares of TXNM Energy by 1.4% in the fourth quarter. Bank of Montreal Can now owns 15,804 shares of the company’s stock worth $931,000 after acquiring an additional 219 shares during the period. CWM LLC boosted its holdings in TXNM Energy by 8.9% in the third quarter. CWM LLC now owns 2,738 shares of the company’s stock valued at $155,000 after acquiring an additional 224 shares during the last quarter. Finally, Smartleaf Asset Management LLC boosted its holdings in TXNM Energy by 23.0% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,262 shares of the company’s stock valued at $74,000 after acquiring an additional 236 shares during the last quarter. Institutional investors own 91.68% of the company’s stock.

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.