TXNM Energy (NYSE:TXNM) Stock Price Expected to Rise, Wells Fargo & Company Analyst Says

TXNM Energy (NYSE:TXNM) had its target price increased by equities researchers at Wells Fargo & Company from $49.00 to $53.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm presently has an “overweight” rating on the stock. Wells Fargo & Company‘s price target would suggest a potential upside of 7.72% from the company’s previous close.

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

TXNM Energy stock opened at $49.20 on Tuesday. The firm has a 50 day moving average price of $44.56. TXNM Energy has a 1 year low of $34.63 and a 1 year high of $49.70. 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 has a market capitalization of $4.44 billion, a P/E ratio of 25.63, a P/E/G ratio of 7.14 and a beta of 0.36.

TXNM Energy (NYSE:TXNM) last released its quarterly earnings data on Friday, November 1st. The company reported $1.43 earnings per share (EPS) for the quarter, beating 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 during the quarter, compared to the consensus estimate of $588.88 million. During the same quarter in the prior year, the firm posted $1.54 earnings per share. The firm’s revenue was up 12.5% compared to the same quarter last year. Equities analysts anticipate 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.