TXNM Energy (NYSE:TXNM) Releases FY24 Earnings Guidance

TXNM Energy (NYSE:TXNM) issued an update on its FY24 earnings guidance on Monday morning. The company provided earnings per share guidance of $2.70-2.75 for the period, compared to the consensus earnings per share estimate of $2.71.

Wall Street Analyst Weigh In

Several brokerages have recently commented on TXNM. Scotiabank started coverage on shares of TXNM Energy in a report on Thursday, October 10th. They issued a “sector perform” rating and a $46.00 target price for the company. Jefferies Financial Group initiated coverage on shares of TXNM Energy in a research note on Wednesday, October 2nd. They issued a “buy” rating and a $50.00 price objective for the company. Wells Fargo & Company boosted their target price on TXNM Energy from $46.00 to $49.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 16th. Finally, Barclays increased their price target on TXNM Energy from $45.00 to $46.00 and gave the company an “overweight” rating in a research report on Tuesday, October 15th.

TXNM Energy Stock Performance

NYSE TXNM opened at $45.37 on Tuesday. The stock has a market capitalization of $4.09 billion, a P/E ratio of 23.63, a PEG ratio of 6.48 and a beta of 0.36. The company has a debt-to-equity ratio of 1.80, a current ratio of 0.36 and a quick ratio of 0.37. TXNM Energy has a 52-week low of $34.63 and a 52-week high of $45.88. The stock’s 50-day moving average is $43.10.

TXNM Energy (NYSE:TXNM) last released its earnings results on Friday, November 1st. The company reported $1.43 earnings per share for the quarter, beating analysts’ consensus estimates of $1.41 by $0.02. The firm had revenue of $569.30 million during the quarter, compared to the consensus estimate 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 was up 12.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.54 EPS. As a group, analysts forecast that TXNM Energy will post 2.72 EPS for the current fiscal year.

TXNM Energy Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 8th. Shareholders of record on Monday, October 28th were paid a $0.3875 dividend. The ex-dividend date of this dividend was Monday, October 28th. This represents a $1.55 annualized dividend and a dividend yield of 3.42%. TXNM Energy’s payout ratio is presently 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.