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

TXNM Energy (NYSE:TXNM) had its price objective hoisted by investment analysts at Wells Fargo & Company from $49.00 to $53.00 in a research report issued on Tuesday,Benzinga reports. The firm currently has an “overweight” rating on the stock. Wells Fargo & Company‘s price objective points to a potential upside of 7.72% from the stock’s current price.

A number of other brokerages have also recently issued reports on TXNM. Scotiabank assumed coverage on shares of TXNM Energy in a research report on Thursday, October 10th. They issued a “sector perform” rating and a $46.00 target price for the company. Barclays boosted 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. Finally, Jefferies Financial Group assumed coverage on shares of TXNM Energy in a research report on Wednesday, October 2nd. They issued a “buy” rating and a $50.00 target price for the company.

TXNM Energy Price Performance

TXNM stock opened at $49.20 on Tuesday. The company has a debt-to-equity ratio of 1.80, a quick ratio of 0.27 and a current ratio of 0.36. The stock’s fifty day moving average is $44.56. TXNM Energy has a one year low of $34.63 and a one year high of $49.70. The company has a market capitalization of $4.44 billion, a PE ratio of 25.63, a price-to-earnings-growth 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 EPS for the quarter, topping analysts’ consensus estimates of $1.41 by $0.02. The firm had revenue of $569.30 million during the quarter, compared to analysts’ expectations of $588.88 million. TXNM Energy had a net margin of 9.26% and a return on equity of 9.69%. The company’s revenue for the quarter was up 12.5% compared to the same quarter last year. During the same period in the previous year, the business posted $1.54 earnings per share. Research analysts anticipate that TXNM Energy will post 2.72 EPS for the current fiscal year.

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.