Barclays Raises TXNM Energy (NYSE:TXNM) Price Target to $46.00

TXNM Energy (NYSE:TXNM) had its price target boosted by Barclays from $45.00 to $46.00 in a research report released on Tuesday morning, Benzinga reports. Barclays currently has an overweight rating on the stock.

Other equities research analysts have also recently issued research reports about the company. Scotiabank initiated coverage on TXNM Energy in a report on Thursday, October 10th. They set a “sector perform” rating and a $46.00 price objective for the company. Jefferies Financial Group began coverage on TXNM Energy in a report on Wednesday, October 2nd. They issued a “buy” rating and a $50.00 price objective on the stock.

TXNM Energy Trading Down 0.8 %

TXNM opened at $43.51 on Tuesday. The firm has a fifty day simple moving average of $42.12. TXNM Energy has a 1-year low of $34.63 and a 1-year high of $44.87. The company has a market cap of $3.92 billion, a PE ratio of 47.81, a PEG ratio of 6.26 and a beta of 0.36. The company has a current ratio of 0.47, a quick ratio of 0.37 and a debt-to-equity ratio of 1.88.

TXNM Energy (NYSE:TXNM) last issued its quarterly earnings data on Wednesday, July 31st. The company reported $0.60 earnings per share for the quarter, beating the consensus estimate of $0.55 by $0.05. The company had revenue of $488.10 million for the quarter, compared to analyst estimates of $506.98 million. TXNM Energy had a net margin of 4.50% and a return on equity of 10.15%. Equities analysts forecast that TXNM Energy will post 2.71 earnings per share for the current year.

TXNM Energy Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 8th. Stockholders of record on Monday, October 28th will be paid a dividend of $0.3875 per share. This represents a $1.55 dividend on an annualized basis and a dividend yield of 3.56%. The ex-dividend date is Monday, October 28th. TXNM Energy’s payout ratio is 170.33%.

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.