TXNM Energy, Inc. (NYSE:TXNM) Given Consensus Rating of "Moderate Buy" by Analysts

Shares of TXNM Energy, Inc. (NYSE:TXNM - Get Free Report) have earned a consensus recommendation of "Moderate Buy" from the six ratings firms that are covering the stock, MarketBeat reports. Two research analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 12-month price target among analysts that have covered the stock in the last year is $52.33.

Several brokerages have recently commented on TXNM. Wells Fargo & Company raised their target price on shares of TXNM Energy from $49.00 to $53.00 and gave the stock an "overweight" rating in a 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 objective for the company from $51.00 to $54.00 in a research note on Tuesday. Barclays lifted their price objective on shares of TXNM Energy from $46.00 to $52.00 and gave the company an "overweight" rating in a research note on Friday, November 29th. Scotiabank lifted their price objective on shares of TXNM Energy from $46.00 to $52.00 and gave the company a "sector perform" rating in a research note on Thursday, December 12th. Finally, Citigroup lifted their price objective on shares of TXNM Energy from $45.00 to $53.00 and gave the company a "neutral" rating in a research note on Thursday, December 12th.

TXNM Energy Stock Up 0.4 %

Shares of TXNM traded up $0.21 during mid-day trading on Tuesday, hitting $50.23. 286,835 shares of the company's stock were exchanged, compared to its average volume of 828,158. TXNM Energy has a 52 week low of $35.35 and a 52 week high of $51.16. The stock has a 50-day moving average of $48.34. The stock has a market capitalization of $4.53 billion, a price-to-earnings ratio of 26.18, a price-to-earnings-growth ratio of 5.91 and a beta of 0.40. The company has a debt-to-equity ratio of 1.80, a quick ratio of 0.27 and a current ratio of 0.36.

TXNM Energy Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Friday, January 31st will be paid a dividend of $0.4075 per share. This represents a $1.63 dividend on an annualized basis and a dividend yield of 3.25%. The ex-dividend date is Friday, January 31st. This is a boost from TXNM Energy's previous quarterly dividend of $0.39. TXNM Energy's payout ratio is presently 84.90%.

Institutional Trading of TXNM Energy

Hedge funds and other institutional investors have recently modified their holdings of the stock. Bessemer Group Inc. bought a new stake in shares of TXNM Energy during the fourth quarter worth $27,000. Aster Capital Management DIFC Ltd acquired a new position in shares of TXNM Energy during the fourth quarter worth $38,000. Nomura Asset Management Co. Ltd. acquired a new position in shares of TXNM Energy during the fourth quarter worth $48,000. NewEdge Advisors LLC acquired a new position in shares of TXNM Energy during the fourth quarter worth $53,000. Finally, CIBC Private Wealth Group LLC acquired a new position in shares of TXNM Energy during the fourth quarter worth $83,000. 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.