Wells Fargo & Company Increases TXNM Energy (NYSE:TXNM) Price Target to $49.00

TXNM Energy (NYSE:TXNM) had its target price increased by research analysts at Wells Fargo & Company from $46.00 to $49.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The firm presently has an “overweight” rating on the stock. Wells Fargo & Company‘s target price points to a potential upside of 12.62% from the company’s previous close.

Several other equities analysts also recently commented on TXNM. Scotiabank began coverage on TXNM Energy in a research report on Thursday, October 10th. They set a “sector perform” rating and a $46.00 target price for the company. Barclays boosted their target price on shares of TXNM Energy from $45.00 to $46.00 and gave the company an “overweight” rating in a research note on Tuesday. Finally, Jefferies Financial Group began 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.

TXNM Energy Price Performance

Shares of TXNM Energy stock opened at $43.51 on Wednesday. TXNM Energy has a 52-week low of $34.63 and a 52-week high of $44.87. The company has a market cap of $3.92 billion, a price-to-earnings ratio of 47.81, a PEG ratio of 6.26 and a beta of 0.36. The company has a debt-to-equity ratio of 1.88, a current ratio of 0.47 and a quick ratio of 0.37. The firm has a fifty day simple moving average of $42.12.

TXNM Energy (NYSE:TXNM) last posted its earnings results on Wednesday, July 31st. The company reported $0.60 earnings per share for the quarter, beating analysts’ consensus estimates of $0.55 by $0.05. The business had revenue of $488.10 million for the quarter, compared to analysts’ expectations of $506.98 million. TXNM Energy had a net margin of 4.50% and a return on equity of 10.15%. Analysts predict that TXNM Energy will post 2.71 earnings per share for the current fiscal 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.