TXNM Energy (NYSE:TXNM) Raised to Outperform at Evercore ISI

Evercore ISI upgraded shares of TXNM Energy (NYSE:TXNM) from an in-line rating to an outperform rating in a research note published on Tuesday morning, Marketbeat reports. Evercore ISI currently has $54.00 price objective on the stock, up from their prior price objective of $51.00.

Several other research firms have also commented on TXNM. 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 research note on Friday, November 29th. Citigroup lifted their price target on TXNM Energy from $45.00 to $53.00 and gave the stock a “neutral” rating in a report on Thursday, December 12th. Scotiabank upped their price objective on 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, Wells Fargo & Company lifted their target price on TXNM Energy from $49.00 to $53.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 26th. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, TXNM Energy presently has an average rating of “Moderate Buy” and a consensus price target of $52.33.

TXNM Energy Price Performance

NYSE TXNM opened at $50.14 on Tuesday. The company has a debt-to-equity ratio of 1.80, a quick ratio of 0.27 and a current ratio of 0.36. The business has a fifty day moving average price of $48.32. TXNM Energy has a 1 year low of $35.35 and a 1 year high of $50.28. The company has a market cap of $4.52 billion, a price-to-earnings ratio of 26.11, a price-to-earnings-growth ratio of 5.91 and a beta of 0.40.

TXNM Energy Increases Dividend

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

Institutional Investors Weigh In On TXNM Energy

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Prudential Financial Inc. bought a new position in shares of TXNM Energy in the fourth quarter worth $417,000. LPL Financial LLC purchased a new stake in TXNM Energy during the 4th quarter worth about $470,000. Xponance Inc. purchased a new stake in TXNM Energy during the 4th quarter worth about $625,000. Corebridge Financial Inc. bought a new position in TXNM Energy in the 4th quarter worth about $7,189,000. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS purchased a new position in TXNM Energy during the 4th quarter valued at about $8,369,000. 91.68% of the stock is currently 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.