TXNM Energy (NYSE:TXNM) Stock Price Expected to Rise, Scotiabank Analyst Says

TXNM Energy (NYSE:TXNM) had its price target upped by stock analysts at Scotiabank from $46.00 to $52.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage presently has a “sector perform” rating on the stock. Scotiabank’s price objective indicates a potential upside of 5.71% from the stock’s previous close.

Other analysts have also issued reports about the stock. Wells Fargo & Company increased their price objective on shares of TXNM Energy from $49.00 to $53.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 26th. Barclays increased their price target on TXNM Energy from $46.00 to $52.00 and gave the stock an “overweight” rating in a report on Friday, November 29th. Finally, Jefferies Financial Group initiated coverage on TXNM Energy in a research note on Wednesday, October 2nd. They set a “buy” rating and a $50.00 price target for the company. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $52.00.

TXNM Energy Price Performance

NYSE:TXNM opened at $49.19 on Thursday. The company has a market cap of $4.44 billion, a price-to-earnings ratio of 25.62, a price-to-earnings-growth ratio of 5.96 and a beta of 0.40. 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 company has a 50 day moving average of $45.81. TXNM Energy has a 1 year low of $34.63 and a 1 year high of $50.28.

TXNM Energy (NYSE:TXNM) last issued its quarterly earnings results on Friday, November 1st. The company reported $1.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 period last year, the company earned $1.54 earnings per share. TXNM Energy’s revenue was up 12.5% on a year-over-year basis. As a group, analysts expect that TXNM Energy will post 2.72 earnings per share 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.