TXNM Energy, Inc. (NYSE:TXNM) Receives $58.42 Average Price Target from Brokerages

TXNM Energy, Inc. (NYSE:TXNM) has earned a consensus rating of “Hold” from the eight analysts that are covering the company, MarketBeat.com reports. Six analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $58.4167.

Several equities research analysts have commented on the company. Wall Street Zen downgraded TXNM Energy from a “hold” rating to a “sell” rating in a report on Saturday, January 31st. Jefferies Financial Group downgraded shares of TXNM Energy from a “buy” rating to a “hold” rating and increased their price objective for the company from $58.00 to $61.25 in a research report on Monday, October 27th. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of TXNM Energy in a report on Monday, December 29th.

TXNM Energy Price Performance

Shares of TXNM opened at $59.00 on Thursday. TXNM Energy has a fifty-two week low of $47.21 and a fifty-two week high of $59.47. The firm’s 50-day simple moving average is $58.87 and its two-hundred day simple moving average is $57.66. The stock has a market cap of $6.43 billion, a PE ratio of 34.50, a price-to-earnings-growth ratio of 2.52 and a beta of 0.16. The company has a debt-to-equity ratio of 1.35, a quick ratio of 0.36 and a current ratio of 0.51.

TXNM Energy Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 13th. Shareholders of record on Friday, January 30th will be paid a dividend of $0.4225 per share. The ex-dividend date is Friday, January 30th. This represents a $1.69 annualized dividend and a yield of 2.9%. This is a positive change from TXNM Energy’s previous quarterly dividend of $0.41. TXNM Energy’s dividend payout ratio (DPR) is 98.83%.

Insider Buying and Selling at TXNM Energy

In related news, Director Vicky A. Bailey sold 1,800 shares of the stock in a transaction on Friday, November 14th. The stock was sold at an average price of $57.74, for a total transaction of $103,932.00. Following the sale, the director directly owned 8,725 shares of the company’s stock, valued at $503,781.50. This trade represents a 17.10% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 1.28% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On TXNM Energy

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Cape Investment Advisory Inc. bought a new stake in TXNM Energy during the second quarter valued at approximately $28,000. Huntington National Bank grew its position in shares of TXNM Energy by 1,307.0% during the 2nd quarter. Huntington National Bank now owns 605 shares of the company’s stock valued at $34,000 after acquiring an additional 562 shares during the period. Smartleaf Asset Management LLC increased its stake in shares of TXNM Energy by 280.0% in the 3rd quarter. Smartleaf Asset Management LLC now owns 1,026 shares of the company’s stock worth $58,000 after purchasing an additional 756 shares in the last quarter. MorganRosel Wealth Management LLC bought a new position in TXNM Energy in the 2nd quarter worth $67,000. Finally, Jones Financial Companies Lllp lifted its position in TXNM Energy by 574.0% during the third quarter. Jones Financial Companies Lllp now owns 1,294 shares of the company’s stock valued at $73,000 after purchasing an additional 1,102 shares in the last quarter. Hedge funds and other 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.