TXNM Energy (NYSE:TXNM) Stock Price Expected to Rise, Scotiabank Analyst Says

TXNM Energy (NYSE:TXNM - Free Report) had its price objective lifted by Scotiabank from $52.00 to $55.00 in a report released on Monday morning,Benzinga reports. They currently have a sector perform rating on the stock.

Other research analysts have also recently issued reports about 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 report on Friday, November 29th. Evercore ISI raised shares of TXNM Energy from an "in-line" rating to an "outperform" rating and increased their target price for the company from $51.00 to $54.00 in a research note on Tuesday, February 11th. Wells Fargo & Company lifted 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, Citigroup increased their price objective on TXNM Energy from $45.00 to $53.00 and gave the company a "neutral" rating in a research report on Thursday, December 12th. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. Based on data from MarketBeat.com, TXNM Energy has an average rating of "Moderate Buy" and an average target price of $52.83.

TXNM Energy Stock Performance

TXNM Energy stock traded down $0.80 during mid-day trading on Monday, hitting $50.90. 733,009 shares of the company's stock traded hands, compared to its average volume of 877,237. The company has a quick ratio of 0.27, a current ratio of 0.36 and a debt-to-equity ratio of 1.80. TXNM Energy has a one year low of $35.35 and a one year high of $54.90. The firm has a 50 day moving average price of $48.84 and a 200 day moving average price of $45.86. The company has a market cap of $4.59 billion, a PE ratio of 26.51, a price-to-earnings-growth ratio of 6.12 and a beta of 0.40.

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TXNM Energy (NYSE:TXNM - Get Free Report) last issued its quarterly 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 analyst estimates of $496.05 million. TXNM Energy had a return on equity of 9.69% and a net margin of 9.26%. On average, equities analysts forecast that TXNM Energy will post 2.73 EPS for the current year.

TXNM Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 16th. Investors of record on Friday, April 25th will be paid a $0.4075 dividend. This represents a $1.63 dividend on an annualized basis and a yield of 3.20%. The ex-dividend date of this dividend is Friday, April 25th. TXNM Energy's dividend payout ratio is 61.05%.

Hedge Funds Weigh In On TXNM Energy

Several institutional investors and hedge funds have recently added to or reduced their stakes in TXNM. Vanguard Group Inc. acquired a new stake in shares of TXNM Energy in the fourth quarter worth $497,880,000. T. Rowe Price Investment Management Inc. acquired a new stake in TXNM Energy during the 4th quarter worth about $303,744,000. FMR LLC purchased a new position in TXNM Energy during the 4th quarter valued at about $191,594,000. Fuller & Thaler Asset Management Inc. purchased a new position in TXNM Energy during the 4th quarter valued at about $189,170,000. Finally, Zimmer Partners LP acquired a new position in shares of TXNM Energy in the 4th quarter valued at about $165,816,000. 91.68% of the stock is currently 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.