Wells Fargo & Company Boosts TXNM Energy (NYSE:TXNM) Price Target to $49.00

TXNM Energy (NYSE:TXNM) had its price target lifted by research analysts at Wells Fargo & Company from $46.00 to $49.00 in a report released on Wednesday, Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Wells Fargo & Company‘s target price points to a potential upside of 12.00% from the company’s previous close.

A number of other brokerages have also commented on TXNM. Scotiabank initiated coverage on shares of TXNM Energy in a research note on Thursday, October 10th. They issued a “sector perform” rating and a $46.00 price target on the stock. Jefferies Financial Group assumed coverage on TXNM Energy in a research report on Wednesday, October 2nd. They issued a “buy” rating and a $50.00 target price on the stock. Finally, Barclays lifted their price target on TXNM Energy from $45.00 to $46.00 and gave the stock an “overweight” rating in a report on Tuesday.

TXNM Energy Price Performance

TXNM stock traded up $0.23 during trading hours on Wednesday, reaching $43.75. 79,646 shares of the stock were exchanged, compared to its average volume of 946,704. The firm’s 50-day simple moving average is $41.98. TXNM Energy has a 12 month low of $34.63 and a 12 month high of $44.87. The company has a market cap of $3.95 billion, a P/E ratio of 48.07, a price-to-earnings-growth ratio of 6.26 and a beta of 0.36. 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 (NYSE:TXNM) last posted its quarterly earnings data on Wednesday, July 31st. The company reported $0.60 earnings per share for the quarter, topping the consensus estimate of $0.55 by $0.05. The company had revenue of $488.10 million during the quarter, compared to analysts’ expectations of $506.98 million. TXNM Energy had a return on equity of 10.15% and a net margin of 4.50%. As a group, equities research analysts forecast that TXNM Energy will post 2.71 earnings per share for the current 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.