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

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

Other research analysts have also recently issued reports about the stock. Jefferies Financial Group started 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. Barclays raised their target price on shares of TXNM Energy from $45.00 to $46.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 15th. Finally, Scotiabank initiated coverage on TXNM Energy in a report on Thursday, October 10th. They issued a “sector perform” rating and a $46.00 price target for the company.

TXNM Energy Price Performance

TXNM Energy stock opened at $48.31 on Tuesday. 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 has a market cap of $4.36 billion, a price-to-earnings ratio of 25.16, a P/E/G ratio of 7.08 and a beta of 0.36. TXNM Energy has a 1-year low of $34.63 and a 1-year high of $49.53. The stock has a 50-day moving average price of $44.44.

TXNM Energy (NYSE:TXNM) last issued its quarterly 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 return on equity of 9.69% and a net margin of 9.26%. The company’s revenue for the quarter was up 12.5% on a year-over-year basis. During the same period in the prior year, the business posted $1.54 earnings per share. Research analysts anticipate that TXNM Energy will post 2.72 earnings per share for the current fiscal year.

TXNM Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 8th. Stockholders of record on Monday, October 28th were given a $0.3875 dividend. The ex-dividend date of this dividend was Monday, October 28th. This represents a $1.55 dividend on an annualized basis and a dividend yield of 3.21%. TXNM Energy’s payout ratio is 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.