Barclays Increases TXNM Energy (NYSE:TXNM) Price Target to $46.00

TXNM Energy (NYSE:TXNM) had its price objective upped by Barclays from $45.00 to $46.00 in a research note issued to investors on Tuesday morning, Benzinga reports. The brokerage currently has an overweight rating on the stock.

A number of other equities research analysts have also issued reports on the stock. Jefferies Financial Group initiated 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 initiated coverage on TXNM Energy in a research report on Thursday, October 10th. They set a sector perform rating and a $46.00 price target on the stock.

TXNM Energy Stock Performance

NYSE TXNM opened at $43.52 on Tuesday. TXNM Energy has a 1 year low of $34.63 and a 1 year high of $44.87. The firm has a fifty day moving average of $41.98. The company has a market capitalization of $3.93 billion, a PE ratio of 47.82, a P/E/G ratio of 6.26 and a beta of 0.36. The company has a debt-to-equity ratio of 1.88, a current ratio of 0.47 and a quick ratio of 0.37.

TXNM Energy (NYSE:TXNM) last announced its earnings results on Wednesday, July 31st. The company reported $0.60 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.55 by $0.05. TXNM Energy had a return on equity of 10.15% and a net margin of 4.50%. The company had revenue of $488.10 million for the quarter, compared to analyst estimates of $506.98 million. On average, research analysts forecast that TXNM Energy will post 2.71 earnings per share for the current year.

TXNM Energy Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 8th. Shareholders of record on Monday, October 28th will be given a $0.3875 dividend. The ex-dividend date of this dividend is Monday, October 28th. This represents a $1.55 dividend on an annualized basis and a yield of 3.56%. TXNM Energy’s payout ratio is 170.33%.

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.