Scotiabank Forecasts Strong Price Appreciation for TXNM Energy (NYSE:TXNM) Stock

TXNM Energy (NYSE:TXNM) had its target price upped by investment analysts at Scotiabank from $52.00 to $55.00 in a research report issued on Monday,Benzinga reports. The firm currently has a “sector perform” rating on the stock. Scotiabank’s price target would suggest a potential upside of 4.23% from the stock’s previous close.

A number of other analysts have also issued reports on TXNM. Citigroup boosted their target price on TXNM Energy from $45.00 to $53.00 and gave the company a “neutral” rating in a research report on Thursday, December 12th. Wells Fargo & Company boosted their price objective on TXNM Energy from $49.00 to $53.00 and gave the company an “overweight” rating in a report on Tuesday, November 26th. Evercore ISI upgraded TXNM Energy from an “in-line” rating to an “outperform” rating and raised their target price for the company from $51.00 to $54.00 in a report on Tuesday, February 11th. Finally, Barclays upped their target price on shares of TXNM Energy from $46.00 to $52.00 and gave the stock an “overweight” rating in a research note on Friday, November 29th. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $52.83.

TXNM Energy Price Performance

TXNM stock traded down $0.45 during mid-day trading on Monday, reaching $52.77. The company’s stock had a trading volume of 86,371 shares, compared to its average volume of 851,959. TXNM Energy has a fifty-two week low of $35.35 and a fifty-two week high of $54.90. The company has a current ratio of 0.36, a quick ratio of 0.27 and a debt-to-equity ratio of 1.80. The stock has a market cap of $4.76 billion, a PE ratio of 27.45, a P/E/G ratio of 6.12 and a beta of 0.40. The company’s 50 day moving average is $48.61 and its two-hundred day moving average is $45.65.

TXNM Energy (NYSE:TXNM) last posted its earnings results on Friday, February 21st. The company reported $0.30 EPS for the quarter, meeting analysts’ consensus estimates of $0.30. The company had revenue of $476.96 million for the quarter, compared to the consensus estimate of $496.05 million. TXNM Energy had a return on equity of 9.69% and a net margin of 9.26%. Equities research analysts expect that TXNM Energy will post 2.73 EPS for the current year.

Institutional Investors Weigh In On TXNM Energy

A number of hedge funds and other institutional investors have recently modified their holdings of TXNM. Xponance Inc. acquired a new stake in shares of TXNM Energy during the 4th quarter worth about $625,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS purchased a new stake in shares of TXNM Energy during the 4th quarter worth approximately $8,369,000. Sei Investments Co. acquired a new position in shares of TXNM Energy in the 4th quarter valued at $9,270,000. LPL Financial LLC purchased a new position in shares of TXNM Energy in the 4th quarter valued at $470,000. Finally, Vanguard Group Inc. acquired a new stake in TXNM Energy during the 4th quarter worth $497,880,000. 91.68% of the stock is currently owned by institutional investors and hedge funds.

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.