TXNM Energy (NYSE:TXNM) Upgraded by Evercore ISI to Outperform Rating

TXNM Energy (NYSE:TXNM) was upgraded by research analysts at Evercore ISI from an “in-line” rating to an “outperform” rating in a research note issued on Tuesday,Finviz reports. The brokerage presently has a $54.00 price target on the stock, up from their prior price target of $51.00. Evercore ISI’s price objective suggests a potential upside of 10.44% from the company’s current price.

Several other brokerages have also recently weighed in on TXNM. Citigroup increased their target price on TXNM Energy from $45.00 to $53.00 and gave the company a “neutral” rating in a report on Thursday, December 12th. Scotiabank increased their target price on TXNM Energy from $46.00 to $52.00 and gave the company a “sector perform” rating in a report on Thursday, December 12th. Barclays increased their target price on TXNM Energy from $46.00 to $52.00 and gave the company an “overweight” rating in a report on Friday, November 29th. Finally, Wells Fargo & Company increased their price objective on TXNM Energy from $49.00 to $53.00 and gave the stock an “overweight” rating in a report on Tuesday, November 26th. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, TXNM Energy currently has an average rating of “Moderate Buy” and a consensus target price of $52.33.

TXNM Energy Stock Down 0.0 %

Shares of NYSE TXNM opened at $48.89 on Tuesday. The business has a 50-day simple moving average of $48.32. TXNM Energy has a twelve month low of $35.35 and a twelve month high of $50.28. The company has a debt-to-equity ratio of 1.80, a current ratio of 0.36 and a quick ratio of 0.27. The company has a market cap of $4.41 billion, a price-to-earnings ratio of 25.47, a P/E/G ratio of 5.91 and a beta of 0.40.

Institutional Trading of TXNM Energy

A hedge fund recently bought a new stake in TXNM Energy stock. Xponance Inc. bought a new position in TXNM Energy, Inc. (NYSE:TXNM) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 12,711 shares of the company’s stock, valued at approximately $625,000. 91.68% of the stock is currently owned by institutional investors and hedge funds.

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.