TXNM Energy (NYSE:TXNM) Given New $53.00 Price Target at Wells Fargo & Company

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

A number of other equities analysts also recently commented on TXNM. Scotiabank initiated coverage on TXNM Energy in a report on Thursday, October 10th. They issued a “sector perform” rating and a $46.00 price objective on the stock. Barclays increased 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, Jefferies Financial Group started coverage on shares of TXNM Energy in a research report on Wednesday, October 2nd. They set a “buy” rating and a $50.00 price target on the stock.

TXNM Energy Stock Down 0.3 %

TXNM stock opened at $49.04 on Tuesday. The firm has a market capitalization of $4.42 billion, a PE ratio of 25.54, a price-to-earnings-growth ratio of 7.12 and a beta of 0.36. The company has a quick ratio of 0.27, a current ratio of 0.36 and a debt-to-equity ratio of 1.80. TXNM Energy has a 52-week low of $34.63 and a 52-week high of $49.70. The business’s fifty day simple moving average is $44.81.

TXNM Energy (NYSE:TXNM) last issued its quarterly earnings results on Friday, November 1st. The company reported $1.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.41 by $0.02. TXNM Energy had a return on equity of 9.69% and a net margin of 9.26%. The firm had revenue of $569.30 million for the quarter, compared to analyst estimates of $588.88 million. During the same period last year, the company earned $1.54 EPS. The firm’s quarterly revenue was up 12.5% on a year-over-year basis. As a group, 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 disclosed a quarterly dividend, which was paid on Friday, November 8th. Investors of record on Monday, October 28th were issued 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 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.