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

TXNM Energy (NYSE:TXNM - Get Free Report) had its price target raised by Barclays from $49.00 to $56.00 in a research note issued on Tuesday,Benzinga reports. The firm presently has an "overweight" rating on the stock. Barclays's price target would suggest a potential upside of 11.74% from the company's previous close.

Several other research firms also recently commented on TXNM. Scotiabank boosted their target price on TXNM Energy from $52.00 to $55.00 and gave the stock a "sector perform" rating in a report on Monday, February 24th. Evercore ISI upgraded shares of TXNM Energy from an "in-line" rating to an "outperform" rating and upped their price target for the stock from $51.00 to $54.00 in a research note on Tuesday, February 11th. Mizuho raised their price objective on shares of TXNM Energy from $50.00 to $53.00 and gave the company a "neutral" rating in a research note on Monday. Citigroup upped their target price on shares of TXNM Energy from $45.00 to $53.00 and gave the stock a "neutral" rating in a research note on Thursday, December 12th. Finally, Wells Fargo & Company raised 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. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $53.43.

TXNM Energy Stock Down 2.3 %

Shares of TXNM Energy stock traded down $1.15 during trading on Tuesday, hitting $50.12. The company's stock had a trading volume of 792,236 shares, compared to its average volume of 860,933. TXNM Energy has a 52 week low of $35.35 and a 52 week high of $54.90. The company has a market capitalization of $4.52 billion, a PE ratio of 26.10, a P/E/G ratio of 6.12 and a beta of 0.40. The company has a fifty day simple moving average of $49.12 and a two-hundred day simple moving average of $46.21. 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 (NYSE:TXNM - Get Free Report) last announced its earnings results on Friday, February 21st. The company reported $0.30 earnings per share 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 business had revenue of $476.96 million during the quarter, compared to the consensus estimate of $496.05 million. Equities research analysts predict that TXNM Energy will post 2.73 earnings per share for the current year.

Hedge Funds Weigh In On TXNM Energy

Hedge funds and other institutional investors have recently modified their holdings of the company. Mackenzie Financial Corp purchased a new stake in shares of TXNM Energy during the 4th quarter valued at about $300,000. Public Employees Retirement System of Ohio bought a new stake in TXNM Energy during the fourth quarter valued at about $3,857,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new position in TXNM Energy in the 4th quarter worth approximately $13,009,000. Voloridge Investment Management LLC purchased a new position in shares of TXNM Energy in the fourth quarter worth $921,000. Finally, Zimmer Partners LP bought a new position in shares of TXNM Energy during the 4th quarter valued at about $165,816,000. 91.68% of the stock is owned by 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.