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

TXNM Energy (NYSE:TXNM) had its price objective increased by Citigroup from $45.00 to $53.00 in a report released on Thursday,Benzinga reports. They currently have a neutral rating on the stock.

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

TXNM Energy Trading Up 1.3 %

NYSE:TXNM opened at $49.19 on Thursday. The company has a quick ratio of 0.27, a current ratio of 0.36 and a debt-to-equity ratio of 1.80. TXNM Energy has a 1-year low of $34.63 and a 1-year high of $50.28. The firm has a market capitalization of $4.44 billion, a price-to-earnings ratio of 25.62, a price-to-earnings-growth ratio of 5.96 and a beta of 0.40. The firm has a 50-day moving average of $45.93.

TXNM Energy (NYSE:TXNM) last released 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 net margin of 9.26% and a return on equity of 9.69%. The business had revenue of $569.30 million for the quarter, compared to analyst estimates of $588.88 million. During the same quarter last year, the firm earned $1.54 EPS. TXNM Energy’s quarterly revenue was up 12.5% compared to the same quarter last year. Sell-side analysts predict that TXNM Energy will post 2.72 earnings per share for the current year.

TXNM Energy Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Friday, January 31st will be issued a $0.4075 dividend. This represents a $1.63 dividend on an annualized basis and a dividend yield of 3.31%. This is a positive change from TXNM Energy’s previous quarterly dividend of $0.39. The ex-dividend date is Friday, January 31st. TXNM Energy’s payout ratio is 80.73%.

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.