Barclays Boosts TXNM Energy (NYSE:TXNM) Price Target to $52.00

TXNM Energy (NYSE:TXNM) had its price target raised by Barclays from $46.00 to $52.00 in a research report sent to investors on Friday,Benzinga reports. Barclays currently has an overweight rating on the stock.

Other analysts have also recently issued reports about the company. Jefferies Financial Group assumed coverage on TXNM Energy in a research note on Wednesday, October 2nd. They issued a “buy” rating and a $50.00 price objective on the stock. Wells Fargo & Company upped their price target on TXNM Energy from $49.00 to $53.00 and gave the stock an “overweight” rating in a report on Tuesday, November 26th. Finally, Scotiabank began coverage on TXNM Energy in a research note on Thursday, October 10th. They issued a “sector perform” rating and a $46.00 price objective for the company.

TXNM Energy Price Performance

Shares of NYSE:TXNM opened at $49.05 on Friday. The stock has a market capitalization of $4.42 billion, a price-to-earnings ratio of 25.55, a PEG ratio of 7.10 and a beta of 0.36. TXNM Energy has a 1 year low of $34.63 and a 1 year high of $49.70. The company has a debt-to-equity ratio of 1.80, a current ratio of 0.36 and a quick ratio of 0.27. The stock’s 50-day simple moving average is $44.81.

TXNM Energy (NYSE:TXNM) last announced its earnings results 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. The firm had revenue of $569.30 million for the quarter, compared to the consensus estimate of $588.88 million. TXNM Energy had a net margin of 9.26% and a return on equity of 9.69%. The firm’s revenue for the quarter was up 12.5% on a year-over-year basis. During the same period in the prior year, the firm earned $1.54 EPS. Analysts expect that TXNM Energy will post 2.72 EPS for the current fiscal year.

TXNM Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 8th. Stockholders of record on Monday, October 28th were given a dividend of $0.3875 per share. The ex-dividend date was Monday, October 28th. This represents a $1.55 annualized dividend and a dividend yield of 3.16%. TXNM Energy’s dividend payout ratio (DPR) is currently 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.