TXNM Energy (NYSE:TXNM) Price Target Raised to $53.00

TXNM Energy (NYSE:TXNM) had its price objective lifted by Wells Fargo & Company from $49.00 to $53.00 in a research report report published on Tuesday,Benzinga reports. Wells Fargo & Company currently has an overweight rating on the stock.

A number of other equities analysts also recently issued reports on the company. Barclays lifted their price target on TXNM Energy from $45.00 to $46.00 and gave the company an “overweight” rating in a research note on Tuesday, October 15th. Jefferies Financial Group initiated coverage on TXNM Energy in a research note on Wednesday, October 2nd. They set a “buy” rating and a $50.00 price target for the company. Finally, Scotiabank initiated coverage on TXNM Energy in a research note on Thursday, October 10th. They set a “sector perform” rating and a $46.00 price target for the company.

TXNM Energy Stock Up 1.9 %

Shares of NYSE:TXNM opened at $49.20 on Tuesday. The company has a market cap of $4.44 billion, a price-to-earnings ratio of 25.63, a P/E/G ratio of 7.14 and a beta of 0.36. The company has a debt-to-equity ratio of 1.80, a quick ratio of 0.27 and a current ratio of 0.36. TXNM Energy has a 12-month low of $34.63 and a 12-month high of $49.70. The stock’s fifty day moving average is $44.69.

TXNM Energy (NYSE:TXNM) last posted its quarterly earnings data on Friday, November 1st. The company reported $1.43 earnings per share for the quarter, topping the consensus estimate of $1.41 by $0.02. TXNM Energy had a return on equity of 9.69% and a net margin of 9.26%. The firm had revenue of $569.30 million during the quarter, compared to analyst estimates of $588.88 million. During the same period last year, the company posted $1.54 EPS. The business’s quarterly revenue was up 12.5% on a year-over-year basis. As a group, equities research analysts expect that TXNM Energy will post 2.72 EPS for the current year.

TXNM Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, November 8th. Stockholders of record on Monday, October 28th were paid a $0.3875 dividend. The ex-dividend date was Monday, October 28th. This represents a $1.55 dividend on an annualized basis and a dividend yield of 3.15%. TXNM Energy’s payout ratio is presently 80.73%.

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.