TXNM Energy (NYSE:TXNM) Price Target Raised to $49.00

TXNM Energy (NYSE:TXNM) had its price target lifted by Wells Fargo & Company from $46.00 to $49.00 in a research note released on Wednesday, Benzinga reports. They currently have an overweight rating on the stock.

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

TXNM Energy Stock Performance

Shares of TXNM opened at $43.84 on Wednesday. The stock has a fifty day simple moving average of $42.05. TXNM Energy has a fifty-two week low of $34.63 and a fifty-two week high of $44.87. The company has a market capitalization of $3.95 billion, a PE ratio of 48.18, a PEG ratio of 6.26 and a beta of 0.36. The company has a debt-to-equity ratio of 1.88, a current ratio of 0.47 and a quick ratio of 0.37.

TXNM Energy (NYSE:TXNM) last announced its quarterly earnings results on Wednesday, July 31st. The company reported $0.60 earnings per share for the quarter, topping the consensus estimate of $0.55 by $0.05. TXNM Energy had a net margin of 4.50% and a return on equity of 10.15%. The company had revenue of $488.10 million for the quarter, compared to analysts’ expectations of $506.98 million. As a group, research analysts forecast that TXNM Energy will post 2.71 earnings per share for the current year.

TXNM Energy Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 8th. Stockholders of record on Monday, October 28th will be paid a dividend of $0.3875 per share. This represents a $1.55 dividend on an annualized basis and a dividend yield of 3.54%. The ex-dividend date of this dividend is Monday, October 28th. TXNM Energy’s dividend payout ratio is currently 170.33%.

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.