Barclays Increases TXNM Energy (NYSE:TXNM) Price Target to $52.00

TXNM Energy (NYSE:TXNM) had its price objective lifted by Barclays from $46.00 to $52.00 in a research report sent to investors on Friday morning,Benzinga reports. Barclays currently has an overweight rating on the stock.

A number of other research firms have also recently commented on TXNM. Scotiabank initiated coverage on TXNM Energy in a research report on Thursday, October 10th. They set a “sector perform” rating and a $46.00 target price on the stock. Wells Fargo & Company lifted their price target on TXNM Energy from $49.00 to $53.00 and gave the stock an “overweight” rating in a research report on Tuesday. Finally, Jefferies Financial Group began coverage on TXNM Energy in a report on Wednesday, October 2nd. They issued a “buy” rating and a $50.00 price objective for the company.

TXNM Energy Stock Down 0.3 %

Shares of TXNM opened at $49.04 on Friday. The firm has a market capitalization of $4.42 billion, a P/E ratio of 25.54, a price-to-earnings-growth ratio of 7.12 and a beta of 0.36. TXNM Energy has a 52-week low of $34.63 and a 52-week high of $49.70. 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 company has a 50 day simple moving average of $44.81.

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 the consensus estimate 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 during the quarter, compared to analysts’ expectations of $588.88 million. During the same quarter in the prior year, the business posted $1.54 EPS. The company’s revenue for the quarter was up 12.5% on a year-over-year basis. On average, equities analysts anticipate that TXNM Energy will post 2.72 EPS for the current fiscal year.

TXNM Energy Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 8th. Investors of record on Monday, October 28th were given a $0.3875 dividend. This represents a $1.55 annualized dividend and a 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.