Evercore ISI Upgrades TXNM Energy (NYSE:TXNM) to "Outperform"

TXNM Energy (NYSE:TXNM - Get Free Report) was upgraded by analysts at Evercore ISI from an "in-line" rating to an "outperform" rating in a research report issued to clients and investors on Tuesday, Marketbeat Ratings reports. The brokerage currently has a $54.00 price target on the stock, up from their previous price target of $51.00. Evercore ISI's price objective indicates a potential upside of 7.52% from the company's current price.

TXNM has been the topic of several other research reports. Scotiabank boosted their price target on shares of TXNM Energy from $46.00 to $52.00 and gave the company a "sector perform" rating in a research report on Thursday, December 12th. Barclays boosted their price target 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. Wells Fargo & Company boosted 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. Finally, Citigroup boosted their price target on shares of TXNM Energy from $45.00 to $53.00 and gave the company a "neutral" rating in a research report on Thursday, December 12th. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $52.33.

TXNM Energy Stock Up 0.4 %

Shares of TXNM Energy stock traded up $0.21 during trading hours on Tuesday, reaching $50.23. 263,754 shares of the company's stock were exchanged, compared to its average volume of 827,572. TXNM Energy has a 1 year low of $35.35 and a 1 year high of $51.16. The stock has a market capitalization of $4.53 billion, a P/E ratio of 26.16, a P/E/G ratio of 5.91 and a beta of 0.40. The firm has a fifty day moving average price of $48.34. The company has a debt-to-equity ratio of 1.80, a current ratio of 0.36 and a quick ratio of 0.27.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the stock. Boothbay Fund Management LLC acquired a new position in TXNM Energy in the fourth quarter valued at about $1,844,000. Susquehanna Fundamental Investments LLC acquired a new stake in shares of TXNM Energy during the fourth quarter worth about $207,000. Virtus ETF Advisers LLC acquired a new stake in shares of TXNM Energy during the fourth quarter worth about $202,000. Voya Investment Management LLC acquired a new stake in shares of TXNM Energy during the fourth quarter worth about $1,306,000. Finally, Adage Capital Partners GP L.L.C. acquired a new stake in shares of TXNM Energy during the fourth quarter worth about $38,721,000. Institutional investors and hedge funds 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.