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

TXNM Energy (NYSE:TXNM) had its target price raised by Scotiabank from $46.00 to $52.00 in a research report report published on Thursday,Benzinga reports. Scotiabank currently has a sector perform rating on the stock.

Several other brokerages have also commented on TXNM. Jefferies Financial Group initiated coverage on shares of TXNM Energy in a research note on Wednesday, October 2nd. They issued a “buy” rating and a $50.00 price target on the stock. Barclays raised their target price on TXNM Energy from $46.00 to $52.00 and gave the company an “overweight” rating in a research report on Friday, November 29th. Finally, Wells Fargo & Company boosted 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, November 26th. Two analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $52.00.

TXNM Energy Trading Up 0.6 %

Shares of TXNM Energy stock opened at $48.58 on Thursday. The firm has a market cap of $4.38 billion, a PE ratio of 25.30, a price-to-earnings-growth ratio of 5.96 and a beta of 0.40. TXNM Energy has a twelve month low of $34.63 and a twelve month high of $50.28. 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 business’s 50 day moving average is $45.81.

TXNM Energy (NYSE:TXNM) last posted its earnings results on Friday, November 1st. The company reported $1.43 earnings per share (EPS) for the quarter, beating 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 company had revenue of $569.30 million for the quarter, compared to analysts’ expectations of $588.88 million. During the same period last year, the business posted $1.54 earnings per share. The firm’s quarterly revenue was up 12.5% compared to the same quarter last year. Sell-side analysts predict that TXNM Energy will post 2.72 earnings per share for the current year.

TXNM Energy Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Friday, January 31st will be issued a dividend of $0.4075 per share. This is a boost from TXNM Energy’s previous quarterly dividend of $0.39. The ex-dividend date of this dividend is Friday, January 31st. This represents a $1.63 annualized dividend and a yield of 3.36%. 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.