Wells Fargo & Company Issues Positive Forecast for TXNM Energy (NYSE:TXNM) Stock Price

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

Other equities analysts also recently issued reports about the company. Barclays increased their target price on TXNM Energy from $45.00 to $46.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 15th. Jefferies Financial Group started coverage on TXNM Energy in a report on Wednesday, October 2nd. They issued a “buy” rating and a $50.00 target price for the company. Finally, Scotiabank initiated coverage on shares of TXNM Energy in a research note on Thursday, October 10th. They set a “sector perform” rating and a $46.00 price target on the stock.

TXNM Energy Price Performance

Shares of NYSE TXNM opened at $49.04 on Tuesday. The business’s fifty day moving average is $44.81. TXNM Energy has a 1-year low of $34.63 and a 1-year high of $49.70. The company has a current ratio of 0.36, a quick ratio of 0.27 and a debt-to-equity ratio of 1.80. The firm has a market capitalization of $4.42 billion, a P/E ratio of 25.54, a PEG ratio of 7.12 and a beta of 0.36.

TXNM Energy (NYSE:TXNM) last announced its quarterly earnings data on Friday, November 1st. The company reported $1.43 EPS for the quarter, topping analysts’ consensus estimates of $1.41 by $0.02. The company had revenue of $569.30 million during 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%. TXNM Energy’s quarterly revenue was up 12.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.54 EPS. Analysts anticipate that TXNM Energy will post 2.72 earnings per share for the current fiscal year.

TXNM Energy Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, November 8th. Stockholders of record on Monday, October 28th were paid a dividend of $0.3875 per share. This represents a $1.55 annualized dividend and a dividend yield of 3.16%. The ex-dividend date of this dividend was Monday, October 28th. 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.