TXNM Energy (NYSE:TXNM) Stock Price Expected to Rise, Scotiabank Analyst Says

TXNM Energy (NYSE:TXNM) had its price objective boosted by analysts at Scotiabank from $46.00 to $52.00 in a report released on Thursday,Benzinga reports. The firm presently has a “sector perform” rating on the stock. Scotiabank’s target price would suggest a potential upside of 5.71% from the company’s previous close.

Other equities research analysts have also recently issued research reports about the stock. Jefferies Financial Group started coverage on shares of TXNM Energy in a research report on Wednesday, October 2nd. They set a “buy” rating and a $50.00 target price for the company. Wells Fargo & Company upped their target price on TXNM Energy from $49.00 to $53.00 and gave the company an “overweight” rating in a research report on Tuesday, November 26th. Finally, Barclays increased their price target on TXNM Energy from $46.00 to $52.00 and gave the company an “overweight” rating in a research note on Friday, November 29th. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $52.00.

TXNM Energy Stock Up 1.3 %

TXNM Energy stock opened at $49.19 on Thursday. 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 $4.44 billion, a price-to-earnings ratio of 25.62, a P/E/G ratio of 5.96 and a beta of 0.40. The business’s fifty day moving average is $45.81. TXNM Energy has a twelve month low of $34.63 and a twelve month high of $50.28.

TXNM Energy (NYSE:TXNM) last posted its earnings results on Friday, November 1st. The company reported $1.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.41 by $0.02. The company had revenue of $569.30 million for the quarter, compared to analyst estimates of $588.88 million. TXNM Energy had a return on equity of 9.69% and a net margin of 9.26%. The firm’s quarterly revenue was up 12.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.54 earnings per share. Equities analysts expect that TXNM Energy will post 2.72 earnings per share for the current year.

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.