Brokerages Set TXNM Energy, Inc. (NYSE:TXNM) PT at $54.86

TXNM Energy, Inc. (NYSE:TXNM) has been assigned a consensus rating of “Moderate Buy” from the eight brokerages that are presently covering the firm, Marketbeat reports. Four investment analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $54.86.

Several equities research analysts have recently weighed in on the stock. Barclays reiterated an “overweight” rating and set a $61.00 target price (up previously from $57.00) on shares of TXNM Energy in a research note on Wednesday, May 21st. Scotiabank increased their target price on shares of TXNM Energy from $55.00 to $60.00 and gave the stock a “sector perform” rating in a research note on Tuesday, May 20th. Mizuho downgraded shares of TXNM Energy from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 20th. Wall Street Zen downgraded shares of TXNM Energy from a “hold” rating to a “sell” rating in a research note on Thursday, May 22nd. Finally, Siebert Williams Shank cut shares of TXNM Energy from a “strong-buy” rating to a “hold” rating in a report on Friday, May 23rd.

Institutional Investors Weigh In On TXNM Energy

Hedge funds have recently added to or reduced their stakes in the company. Federated Hermes Inc. increased its holdings in TXNM Energy by 4.9% in the first quarter. Federated Hermes Inc. now owns 6,115 shares of the company’s stock valued at $327,000 after buying an additional 285 shares in the last quarter. Baird Financial Group Inc. increased its holdings in TXNM Energy by 6.0% in the first quarter. Baird Financial Group Inc. now owns 5,095 shares of the company’s stock valued at $272,000 after buying an additional 287 shares in the last quarter. Hughes Financial Services LLC purchased a new position in TXNM Energy in the first quarter valued at about $25,000. Cetera Investment Advisers increased its holdings in TXNM Energy by 10.1% in the first quarter. Cetera Investment Advisers now owns 5,281 shares of the company’s stock valued at $282,000 after buying an additional 486 shares in the last quarter. Finally, Bessemer Group Inc. purchased a new position in TXNM Energy in the fourth quarter valued at about $27,000. Institutional investors and hedge funds own 91.68% of the company’s stock.

TXNM Energy Stock Performance

NYSE TXNM opened at $56.40 on Monday. The company has a debt-to-equity ratio of 1.80, a current ratio of 0.29 and a quick ratio of 0.19. TXNM Energy has a 1 year low of $39.60 and a 1 year high of $57.29. The company has a market capitalization of $5.23 billion, a PE ratio of 25.07, a P/E/G ratio of 2.68 and a beta of 0.13. The company has a fifty day moving average of $54.81 and a two-hundred day moving average of $51.62.

TXNM Energy (NYSE:TXNM) last released its quarterly earnings data on Friday, May 9th. The company reported $0.19 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.20 by ($0.01). TXNM Energy had a net margin of 10.13% and a return on equity of 9.09%. The company had revenue of $482.79 million during the quarter, compared to analyst estimates of $451.01 million. The business’s revenue was up 10.5% compared to the same quarter last year. As a group, analysts expect that TXNM Energy will post 2.73 earnings per share for the current year.

TXNM Energy Company Profile

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.