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

TXNM Energy (NYSE:TXNM) had its price objective raised by Wells Fargo & Company from $49.00 to $53.00 in a research note issued to investors on Tuesday morning,Benzinga reports. They currently have an overweight rating on the stock.

Several other research analysts have also recently weighed in on the stock. Barclays upped their price target on shares of TXNM Energy from $45.00 to $46.00 and gave the stock an “overweight” rating in a report on Tuesday, October 15th. Scotiabank began coverage on shares of TXNM Energy in a report on Thursday, October 10th. They issued a “sector perform” rating and a $46.00 price target on the stock. Finally, Jefferies Financial Group began coverage on shares of TXNM Energy in a report on Wednesday, October 2nd. They issued a “buy” rating and a $50.00 price target on the stock.

TXNM Energy Price Performance

Shares of TXNM stock opened at $49.20 on Tuesday. The firm’s fifty day simple moving average is $44.69. The company has a debt-to-equity ratio of 1.80, a current ratio of 0.36 and a quick ratio of 0.27. TXNM Energy has a 1 year low of $34.63 and a 1 year high of $49.70. The company has a market cap of $4.44 billion, a PE ratio of 25.63, a price-to-earnings-growth ratio of 7.14 and a beta of 0.36.

TXNM Energy (NYSE:TXNM) last issued its earnings results on Friday, November 1st. The company reported $1.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 analysts’ expectations of $588.88 million. During the same quarter in the previous year, the firm posted $1.54 EPS. The business’s revenue for the quarter was up 12.5% compared to the same quarter last year. Equities research analysts anticipate that TXNM Energy will post 2.72 EPS for the current year.

TXNM Energy Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, November 8th. Investors of record on Monday, October 28th were given a $0.3875 dividend. The ex-dividend date was Monday, October 28th. This represents a $1.55 annualized dividend and a yield of 3.15%. TXNM Energy’s dividend payout ratio (DPR) 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.