TXNM Energy (NYSE:TXNM) Price Target Raised to $46.00

TXNM Energy (NYSE:TXNM - Free Report) had its target price hoisted by Barclays from $45.00 to $46.00 in a research report report published on Tuesday, Benzinga reports. They currently have an overweight rating on the stock.

A number of other brokerages have also commented on TXNM. Jefferies Financial Group assumed coverage on TXNM Energy in a research report on Wednesday, October 2nd. They set a buy rating and a $50.00 price objective for the company. Scotiabank assumed coverage on TXNM Energy in a research report on Thursday, October 10th. They set a sector perform rating and a $46.00 price objective for the company.

TXNM Energy Stock Performance

Shares of NYSE:TXNM traded up $0.03 during midday trading on Tuesday, reaching $43.52. The company had a trading volume of 1,229,337 shares, compared to its average volume of 950,837. 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 1-year low of $34.63 and a 1-year high of $44.87. The company has a market capitalization of $3.93 billion, a price-to-earnings ratio of 47.82, a price-to-earnings-growth ratio of 6.26 and a beta of 0.36. The company has a fifty day simple moving average of $41.91.

TXNM Energy (NYSE:TXNM - Get Free Report) last released its quarterly earnings results on Wednesday, July 31st. The company reported $0.60 earnings per share for the quarter, beating 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 business had revenue of $488.10 million during the quarter, compared to analyst estimates of $506.98 million. Analysts expect that TXNM Energy will post 2.71 EPS for the current year.

TXNM Energy Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 8th. Stockholders of record on Monday, October 28th will be paid a dividend of $0.3875 per share. This represents a $1.55 dividend on an annualized basis and a dividend yield of 3.56%. The ex-dividend date of this dividend is Monday, October 28th. TXNM Energy's dividend payout ratio (DPR) is presently 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.