Wells Fargo & Company Issues Positive Forecast for TXNM Energy (NYSE:TXNM) Stock Price

TXNM Energy (NYSE:TXNM) had its target price increased by equities researchers at Wells Fargo & Company from $49.00 to $53.00 in a report released on Tuesday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Wells Fargo & Company‘s price target would suggest a potential upside of 9.10% from the stock’s previous close.

A number of other equities analysts have also recently commented on the company. Barclays lifted their price target on TXNM Energy from $45.00 to $46.00 and gave the stock an “overweight” rating in a report on Tuesday, October 15th. Jefferies Financial Group began coverage on TXNM Energy in a research note on Wednesday, October 2nd. They set a “buy” rating and a $50.00 target price for the company. Finally, Scotiabank began coverage on TXNM Energy in a report on Thursday, October 10th. They set a “sector perform” rating and a $46.00 price target for the company.

TXNM Energy Stock Down 1.3 %

Shares of NYSE TXNM traded down $0.63 during trading hours on Tuesday, hitting $48.58. The company had a trading volume of 94,175 shares, compared to its average volume of 929,720. TXNM Energy has a 1-year low of $34.63 and a 1-year high of $49.53. 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 firm’s 50 day moving average price is $44.34. The stock has a market capitalization of $4.38 billion, a PE ratio of 25.30, a P/E/G ratio of 7.08 and a beta of 0.36.

TXNM Energy (NYSE:TXNM) last posted its quarterly 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 net margin of 9.26% and a return on equity of 9.69%. The firm had revenue of $569.30 million for the quarter, compared to analyst estimates of $588.88 million. The company’s quarterly revenue was up 12.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.54 earnings per share. On average, sell-side analysts predict that TXNM Energy will post 2.72 earnings per share for the current year.

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.