Mizuho Issues Positive Forecast for TXNM Energy (NYSE:TXNM) Stock Price

TXNM Energy (NYSE:TXNM) had its target price increased by Mizuho from $50.00 to $53.00 in a research report sent to investors on Monday morning,Benzinga reports. They currently have a neutral rating on the stock.

TXNM has been the subject of a number of other reports. Wells Fargo & Company lifted their price target on shares of TXNM Energy from $49.00 to $53.00 and gave the company an “overweight” rating in a research report on Tuesday, November 26th. Evercore ISI raised shares of TXNM Energy from an “in-line” rating to an “outperform” rating and lifted their price target for the company from $51.00 to $54.00 in a research report on Tuesday, February 11th. Citigroup lifted their target price on shares of TXNM Energy from $45.00 to $53.00 and gave the stock a “neutral” rating in a report on Thursday, December 12th. Scotiabank lifted their target price on shares of TXNM Energy from $52.00 to $55.00 and gave the stock a “sector perform” rating in a report on Monday, February 24th. Finally, Barclays lifted their target price on shares of TXNM Energy from $46.00 to $52.00 and gave the stock an “overweight” rating in a report on Friday, November 29th. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $53.43.

TXNM Energy Trading Down 2.3 %

Shares of NYSE TXNM opened at $50.12 on Monday. TXNM Energy has a 1 year low of $35.35 and a 1 year high of $54.90. The stock has a market cap of $4.52 billion, a P/E ratio of 26.10, a price-to-earnings-growth ratio of 6.12 and a beta of 0.40. The firm has a 50-day moving average of $49.15 and a 200 day moving average of $46.24. The company has a debt-to-equity ratio of 1.80, a current ratio of 0.36 and a quick ratio of 0.27.

TXNM Energy (NYSE:TXNM) last issued its quarterly earnings results on Friday, February 21st. The company reported $0.30 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.30. TXNM Energy had a net margin of 9.26% and a return on equity of 9.69%. The company had revenue of $476.96 million during the quarter, compared to analysts’ expectations of $496.05 million. As a group, sell-side analysts expect that TXNM Energy will post 2.73 EPS for the current fiscal year.

TXNM Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 16th. Stockholders of record on Friday, April 25th will be issued a dividend of $0.4075 per share. The ex-dividend date of this dividend is Friday, April 25th. This represents a $1.63 annualized dividend and a dividend yield of 3.25%. TXNM Energy’s payout ratio is 61.05%.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. purchased a new position in shares of TXNM Energy during the fourth quarter valued at approximately $497,880,000. T. Rowe Price Investment Management Inc. purchased a new position in shares of TXNM Energy during the fourth quarter valued at approximately $303,744,000. FMR LLC bought a new stake in TXNM Energy during the fourth quarter valued at approximately $191,594,000. Fuller & Thaler Asset Management Inc. bought a new stake in TXNM Energy during the fourth quarter valued at approximately $189,170,000. Finally, Zimmer Partners LP bought a new stake in TXNM Energy during the fourth quarter valued at approximately $165,816,000. 91.68% of the stock is owned by hedge funds and other institutional investors.

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.