TXNM Energy (NYSE:TXNM) Upgraded 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 issued to investors on Tuesday, MarketBeat.com reports. The firm currently has $54.00 price objective on the stock, up from their prior price objective of $51.00.

A number of other analysts have also recently commented on the stock. Wells Fargo & Company upped 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. Citigroup upped their target price on TXNM Energy from $45.00 to $53.00 and gave the company a “neutral” rating in a research report on Thursday, December 12th. Barclays lifted their target price on TXNM Energy from $46.00 to $52.00 and gave the stock an “overweight” rating in a report on Friday, November 29th. Finally, Scotiabank increased their price target on TXNM Energy from $46.00 to $52.00 and gave the stock a “sector perform” rating in a report on Thursday, December 12th. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, TXNM Energy presently has a consensus rating of “Moderate Buy” and a consensus target price of $52.33.

TXNM Energy Stock Performance

Shares of NYSE TXNM opened at $50.14 on Tuesday. The stock has a 50 day moving average price of $48.32. The company has a quick ratio of 0.27, a current ratio of 0.36 and a debt-to-equity ratio of 1.80. TXNM Energy has a 52-week low of $35.35 and a 52-week high of $50.28. The firm has a market cap of $4.52 billion, a P/E ratio of 26.11, a P/E/G ratio of 5.91 and a beta of 0.40.

TXNM Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Friday, January 31st will be paid a $0.4075 dividend. This represents a $1.63 dividend on an annualized basis and a yield of 3.25%. The ex-dividend date of this dividend is Friday, January 31st. This is a boost from TXNM Energy’s previous quarterly dividend of $0.39. TXNM Energy’s dividend payout ratio (DPR) is 84.90%.

Hedge Funds Weigh In On TXNM Energy

A number of institutional investors have recently modified their holdings of the company. Vanguard Group Inc. acquired a new stake in TXNM Energy in the 4th quarter valued at $497,880,000. Segall Bryant & Hamill LLC bought a new position in shares of TXNM Energy in the fourth quarter valued at $24,122,000. Sei Investments Co. acquired a new position in shares of TXNM Energy during the fourth quarter valued at about $9,270,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS bought a new stake in shares of TXNM Energy during the fourth quarter worth about $8,369,000. Finally, Corebridge Financial Inc. acquired a new stake in shares of TXNM Energy in the 4th quarter worth about $7,189,000. 91.68% of the stock is owned by institutional investors and hedge funds.

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.