TXNM Energy (NYSE:TXNM) Coverage Initiated at Scotiabank

Research analysts at Scotiabank began coverage on shares of TXNM Energy (NYSE:TXNM) in a research note issued to investors on Thursday, MarketBeat Ratings reports. The firm set a “sector perform” rating and a $46.00 price target on the stock. Scotiabank’s price objective would suggest a potential upside of 6.53% from the company’s previous close.

Separately, Jefferies Financial Group assumed coverage on TXNM Energy in a research note on Wednesday, October 2nd. They issued a “buy” rating and a $50.00 price target for the company.

TXNM Energy Price Performance

NYSE:TXNM opened at $43.18 on Thursday. The firm has a market cap of $3.89 billion, a price-to-earnings ratio of 47.45, a P/E/G ratio of 6.26 and a beta of 0.36. The firm’s 50 day moving average is $41.85. The company has a quick ratio of 0.37, a current ratio of 0.47 and a debt-to-equity ratio of 1.88. TXNM Energy has a 12-month low of $34.63 and a 12-month high of $44.87.

TXNM Energy (NYSE:TXNM) last released its quarterly earnings results on Wednesday, July 31st. The company reported $0.60 EPS for the quarter, topping the consensus estimate of $0.55 by $0.05. TXNM Energy had a net margin of 4.50% and a return on equity of 10.15%. The business had revenue of $488.10 million during the quarter, compared to analyst estimates of $506.98 million. Research analysts anticipate that TXNM Energy will post 2.71 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.