TXNM Energy (NYSE:TXNM) Price Target Raised to $53.00

TXNM Energy (NYSE:TXNM) had its target price boosted by stock analysts at Wells Fargo & Company from $49.00 to $53.00 in a research report issued on Tuesday,Benzinga reports. The firm presently has an “overweight” rating on the stock. Wells Fargo & Company‘s price objective indicates a potential upside of 9.10% from the company’s previous close.

Other research analysts have also issued research reports about the stock. Jefferies Financial Group started coverage on shares of TXNM Energy in a research note on Wednesday, October 2nd. They issued a “buy” rating and a $50.00 target price on the stock. Barclays raised their price objective on shares of TXNM Energy from $45.00 to $46.00 and gave the company an “overweight” rating in a research note on Tuesday, October 15th. Finally, Scotiabank initiated coverage on shares of TXNM Energy in a research report on Thursday, October 10th. They set a “sector perform” rating and a $46.00 target price for the company.

TXNM Energy Price Performance

Shares of NYSE:TXNM traded down $0.63 during trading on Tuesday, reaching $48.58. The stock had a trading volume of 94,175 shares, compared to its average volume of 929,720. The company has a market cap of $4.38 billion, a PE ratio of 25.30, a PEG ratio of 7.08 and a beta of 0.36. TXNM Energy has a 52 week low of $34.63 and a 52 week high of $49.53. The firm has a 50-day simple moving average of $44.34. 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 (NYSE:TXNM) last announced its earnings results on Friday, November 1st. The company reported $1.43 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 company had revenue of $569.30 million for the quarter, compared to analysts’ expectations of $588.88 million. During the same quarter in the prior year, the business earned $1.54 earnings per share. The business’s revenue for the quarter was up 12.5% on a year-over-year basis. Analysts forecast that TXNM Energy will post 2.72 EPS 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.