TXNM Energy (NYSE:TXNM) Price Target Raised to $52.00 at Scotiabank

TXNM Energy (NYSE:TXNM) had its price target boosted by Scotiabank from $46.00 to $52.00 in a research report released on Thursday morning,Benzinga reports. Scotiabank currently has a sector perform rating on the stock.

TXNM has been the topic of a number of other research reports. Jefferies Financial Group began coverage on TXNM Energy in a research note on Wednesday, October 2nd. They issued a “buy” rating and a $50.00 price target on the stock. Wells Fargo & Company lifted their target price on shares of TXNM Energy from $49.00 to $53.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 26th. Finally, Barclays upped their price target on shares of TXNM Energy from $46.00 to $52.00 and gave the company an “overweight” rating in a research report on Friday, November 29th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $52.00.

TXNM Energy Price Performance

TXNM stock opened at $48.58 on Thursday. The firm has a market capitalization of $4.38 billion, a price-to-earnings ratio of 25.30, a PEG ratio of 5.96 and a beta of 0.40. TXNM Energy has a 12 month low of $34.63 and a 12 month high of $50.28. 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 company’s 50 day simple moving average is $45.81.

TXNM Energy (NYSE:TXNM) last announced its quarterly earnings data on Friday, November 1st. The company reported $1.43 EPS for the quarter, beating 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 return on equity of 9.69% and a net margin of 9.26%. The company’s quarterly revenue was up 12.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.54 EPS. As a group, sell-side analysts expect that TXNM Energy will post 2.72 earnings per share for the current year.

TXNM Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Friday, January 31st will be paid a $0.4075 dividend. This represents a $1.63 annualized dividend and a yield of 3.36%. The ex-dividend date of this dividend is Friday, January 31st. This is a positive change from TXNM Energy’s previous quarterly dividend of $0.39. TXNM Energy’s dividend payout ratio is currently 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.