TXNM Energy (NYSE:TXNM) Stock Rating Upgraded by Evercore ISI

Evercore ISI upgraded shares of TXNM Energy (NYSE:TXNM) from an in-line rating to an outperform rating in a report issued on Tuesday morning, MarketBeat.com reports. The brokerage currently has $54.00 target price on the stock, up from their previous target price of $51.00.

TXNM has been the topic of a number of other reports. Citigroup boosted their price objective on TXNM Energy from $45.00 to $53.00 and gave the company a “neutral” rating in a research note on Thursday, December 12th. Scotiabank upped their price target on 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 raised their price objective 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. Finally, Wells Fargo & Company boosted their price objective on shares of TXNM Energy from $49.00 to $53.00 and gave the company an “overweight” rating in a research note on Tuesday, November 26th. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $52.33.

TXNM Energy Stock Down 0.1 %

NYSE TXNM opened at $50.06 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 stock has a market capitalization of $4.52 billion, a P/E ratio of 26.07, a PEG ratio of 5.91 and a beta of 0.40. TXNM Energy has a 52 week low of $35.35 and a 52 week high of $50.28. The firm’s 50-day simple moving average is $48.34.

TXNM Energy Increases Dividend

The business also recently declared 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 3.26%. 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 payout ratio is currently 84.90%.

Institutional Investors Weigh In On TXNM Energy

Several hedge funds have recently added to or reduced their stakes in the company. Bessemer Group Inc. bought a new position in shares of TXNM Energy during the 4th quarter valued at about $27,000. Aster Capital Management DIFC Ltd purchased a new stake in TXNM Energy in the fourth quarter worth approximately $38,000. Nomura Asset Management Co. Ltd. purchased a new stake in TXNM Energy in the fourth quarter worth approximately $48,000. NewEdge Advisors LLC bought a new position in TXNM Energy during the fourth quarter valued at approximately $53,000. Finally, CIBC Private Wealth Group LLC purchased a new position in shares of TXNM Energy during the fourth quarter worth approximately $83,000. Institutional investors 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.