Citigroup Forecasts Strong Price Appreciation for TXNM Energy (NYSE:TXNM) Stock

TXNM Energy (NYSE:TXNM) had its price objective boosted by Citigroup from $45.00 to $53.00 in a research note issued to investors on Thursday,Benzinga reports. Citigroup currently has a neutral rating on the stock.

Several other research firms have also issued reports on TXNM. Jefferies Financial Group assumed coverage on shares of TXNM Energy in a research report on Wednesday, October 2nd. They set a “buy” rating and a $50.00 price target on the stock. Scotiabank raised their target price on shares of TXNM Energy from $46.00 to $52.00 and gave the company a “sector perform” rating in a research note on Thursday. Wells Fargo & Company lifted their price target on TXNM Energy from $49.00 to $53.00 and gave the stock an “overweight” rating in a report on Tuesday, November 26th. Finally, Barclays upped their price objective on TXNM Energy from $46.00 to $52.00 and gave the company an “overweight” rating in a research note on Friday, November 29th. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $52.00.

TXNM Energy Price Performance

TXNM Energy stock opened at $49.19 on Thursday. The firm has a market cap of $4.44 billion, a P/E ratio of 25.62, a price-to-earnings-growth ratio of 5.96 and a beta of 0.40. The business’s 50-day simple moving average is $45.93. The company has a debt-to-equity ratio of 1.80, a quick ratio of 0.27 and a current ratio of 0.36. TXNM Energy has a one year low of $34.63 and a one year high of $50.28.

TXNM Energy (NYSE:TXNM) last released its earnings results on Friday, November 1st. The company reported $1.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.41 by $0.02. The business had revenue of $569.30 million for the quarter, compared to analyst estimates of $588.88 million. TXNM Energy had a return on equity of 9.69% and a net margin of 9.26%. TXNM Energy’s revenue was up 12.5% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.54 earnings per share. As a group, sell-side analysts expect that TXNM Energy will post 2.72 earnings per share for the current year.

TXNM Energy Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Friday, January 31st will be paid a $0.4075 dividend. The ex-dividend date is Friday, January 31st. This represents a $1.63 dividend on an annualized basis and a yield of 3.31%. This is a positive change from TXNM Energy’s previous quarterly dividend of $0.39. TXNM Energy’s dividend payout ratio is 80.73%.

About TXNM Energy

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.