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

TXNM Energy (NYSE:TXNM - Get Free Report) had its target price boosted by stock analysts at Mizuho from $50.00 to $53.00 in a report released on Monday,Benzinga reports. The brokerage currently has a "neutral" rating on the stock. Mizuho's price objective would indicate a potential upside of 1.57% from the company's current price.

A number of other research analysts also recently weighed in on the stock. Barclays increased their price objective on shares of TXNM Energy from $46.00 to $52.00 and gave the company an "overweight" rating in a research report on Friday, November 29th. Scotiabank increased their price target on shares of TXNM Energy from $52.00 to $55.00 and gave the stock a "sector perform" rating in a research report on Monday, February 24th. Citigroup increased their price target on shares of TXNM Energy from $45.00 to $53.00 and gave the stock a "neutral" rating in a research report on Thursday, December 12th. Wells Fargo & Company increased their price target on shares of TXNM Energy from $49.00 to $53.00 and gave the stock an "overweight" rating in a research report on Tuesday, November 26th. Finally, Evercore ISI upgraded shares of TXNM Energy from an "in-line" rating to an "outperform" rating and increased their price target for the stock from $51.00 to $54.00 in a research report on Tuesday, February 11th. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $52.86.

TXNM Energy Stock Performance

TXNM Energy stock traded down $0.07 during midday trading on Monday, reaching $52.18. 725,500 shares of the company traded hands, compared to its average volume of 876,768. The firm has a market capitalization of $4.71 billion, a price-to-earnings ratio of 27.18, a price-to-earnings-growth ratio of 6.12 and a beta of 0.40. The business has a 50 day moving average of $49.07 and a two-hundred day moving average of $46.13. TXNM Energy has a 12 month low of $35.35 and a 12 month high of $54.90. 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 - Get Free Report) last issued its quarterly earnings data on Friday, February 21st. The company reported $0.30 earnings per share 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 net margin of 9.26% and a return on equity of 9.69%. As a group, research analysts predict that TXNM Energy will post 2.73 earnings per share for the current year.

Institutional Trading of TXNM Energy

Hedge funds and other institutional investors have recently modified their holdings of the company. Bessemer Group Inc. purchased a new stake in shares of TXNM Energy in the fourth quarter worth $27,000. Aster Capital Management DIFC Ltd purchased a new stake in shares of TXNM Energy in the fourth quarter worth $38,000. LRI Investments LLC purchased a new stake in shares of TXNM Energy in the fourth quarter worth $40,000. Nomura Asset Management Co. Ltd. purchased a new position in TXNM Energy during the fourth quarter valued at $48,000. Finally, NewEdge Advisors LLC bought a new stake in TXNM Energy in the 4th quarter valued at $53,000. 91.68% of the stock is owned by hedge funds and other institutional investors.

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.