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

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

Other equities analysts have also issued reports about the company. Jefferies Financial Group started coverage on TXNM Energy in a research note on Wednesday, October 2nd. They issued a “buy” rating and a $50.00 price objective on the stock. Wells Fargo & Company boosted their price target 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 increased their price objective on shares of TXNM Energy from $46.00 to $52.00 and gave the stock an “overweight” rating in a research report on Friday, November 29th. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $52.00.

TXNM Energy Stock Performance

TXNM stock opened at $49.19 on Thursday. The company has a market capitalization of $4.44 billion, a P/E ratio of 25.62, a P/E/G ratio of 5.96 and a beta of 0.40. The company’s fifty day simple moving average is $45.93. The company has a debt-to-equity ratio of 1.80, a current ratio of 0.36 and a quick ratio of 0.27. TXNM Energy has a 52-week low of $34.63 and a 52-week high of $50.28.

TXNM Energy (NYSE:TXNM) last announced its earnings results on Friday, November 1st. The company reported $1.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.41 by $0.02. TXNM Energy had a return on equity of 9.69% and a net margin of 9.26%. The business had revenue of $569.30 million during the quarter, compared to analyst estimates of $588.88 million. During the same period last year, the company earned $1.54 EPS. TXNM Energy’s revenue for the quarter was up 12.5% compared to the same quarter last year. As a group, sell-side analysts forecast that TXNM Energy will post 2.72 earnings per share for the current fiscal year.

TXNM Energy Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Friday, January 31st will be issued a $0.4075 dividend. This is an increase from TXNM Energy’s previous quarterly dividend of $0.39. This represents a $1.63 dividend on an annualized basis and a yield of 3.31%. The ex-dividend date is Friday, January 31st. TXNM Energy’s payout ratio is presently 80.73%.

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.