TXNM Energy (NYSE:TXNM) Price Target Raised to $49.00 at Wells Fargo & Company

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

Several other brokerages also recently weighed in on TXNM. Jefferies Financial Group assumed coverage on shares of TXNM Energy in a report on Wednesday, October 2nd. They set a “buy” rating and a $50.00 price target on the stock. Scotiabank assumed coverage on shares of TXNM Energy in a report on Thursday, October 10th. They set a “sector perform” rating and a $46.00 price target on the stock. Finally, Barclays lifted their price target on shares of TXNM Energy from $45.00 to $46.00 and gave the company an “overweight” rating in a report on Tuesday.

TXNM Energy Trading Up 0.7 %

TXNM opened at $43.84 on Wednesday. The company has a debt-to-equity ratio of 1.88, a quick ratio of 0.37 and a current ratio of 0.47. TXNM Energy has a 12-month low of $34.63 and a 12-month high of $44.87. The stock has a market capitalization of $3.95 billion, a P/E ratio of 48.18, a price-to-earnings-growth ratio of 6.26 and a beta of 0.36. The business has a 50 day simple moving average of $42.05.

TXNM Energy (NYSE:TXNM) last issued its quarterly earnings results on Wednesday, July 31st. The company reported $0.60 earnings per share for the quarter, beating 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 business had revenue of $488.10 million for the quarter, compared to the consensus estimate of $506.98 million. As a group, analysts predict that TXNM Energy will post 2.71 EPS for the current fiscal year.

TXNM Energy Announces Dividend

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

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.