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

TXNM Energy, Inc. (NYSE:TXNM) has received an average rating of “Hold” from the seven ratings firms that are currently covering the firm, Marketbeat Ratings reports. Six research analysts have rated the stock with a hold rating and one has issued a buy rating on the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $60.8750.

Several equities research analysts have recently issued reports on the company. Weiss Ratings reiterated a “hold (c+)” rating on shares of TXNM Energy in a report on Monday, December 29th. Wall Street Zen upgraded TXNM Energy from a “sell” rating to a “hold” rating in a report on Saturday, February 21st.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the stock. Principal Financial Group Inc. lifted its holdings in shares of TXNM Energy by 55.4% during the third quarter. Principal Financial Group Inc. now owns 330,336 shares of the company’s stock worth $18,681,000 after buying an additional 117,765 shares during the last quarter. AlphaQuest LLC acquired a new position in shares of TXNM Energy during the third quarter worth approximately $2,880,000. Angelo Gordon & CO. L.P. acquired a new position in shares of TXNM Energy during the third quarter worth approximately $5,694,000. Athos Capital Ltd acquired a new position in shares of TXNM Energy during the third quarter worth approximately $8,078,000. Finally, Alpine Global Management LLC acquired a new position in shares of TXNM Energy during the third quarter worth approximately $1,414,000. 91.68% of the stock is owned by institutional investors.

TXNM Energy Stock Up 0.3%

Shares of TXNM Energy stock opened at $58.99 on Tuesday. The firm has a market cap of $6.42 billion, a price-to-earnings ratio of 40.40, a P/E/G ratio of 2.52 and a beta of 0.17. The company has a debt-to-equity ratio of 1.48, a current ratio of 0.55 and a quick ratio of 0.38. TXNM Energy has a 52-week low of $51.59 and a 52-week high of $59.52. The stock has a 50-day simple moving average of $58.85 and a 200-day simple moving average of $58.43.

TXNM Energy (NYSE:TXNM) last announced its quarterly earnings results on Friday, February 27th. The company reported $0.48 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.60 by ($0.12). The firm had revenue of $533.23 million for 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 in the prior year, the firm earned $0.30 earnings per share. On average, equities research analysts expect that TXNM Energy will post 3.09 earnings per share for the current fiscal year.

TXNM Energy Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, May 15th. Stockholders of record on Monday, April 27th will be issued a dividend of $0.4225 per share. This represents a $1.69 annualized dividend and a dividend yield of 2.9%. The ex-dividend date is Monday, April 27th. TXNM Energy’s payout ratio is currently 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.