TXNM Energy (NYSE:TXNM) Releases FY24 Earnings Guidance

TXNM Energy (NYSE:TXNM) updated its FY24 earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of $2.70-2.75 for the period, compared to the consensus estimate of $2.72.

Analyst Ratings Changes

Several analysts have recently commented on the stock. Jefferies Financial Group began coverage on shares of TXNM Energy in a research report on Wednesday, October 2nd. They set a “buy” rating and a $50.00 price objective for the company. Citigroup raised their price target on shares of TXNM Energy from $45.00 to $53.00 and gave the stock a “neutral” rating in a report on Thursday, December 12th. Wells Fargo & Company lifted their price target on shares of TXNM Energy from $49.00 to $53.00 and gave the company an “overweight” rating in a research note on Tuesday, November 26th. Scotiabank increased their price objective on shares of TXNM Energy from $46.00 to $52.00 and gave the stock a “sector perform” rating in a research report on Thursday, December 12th. Finally, Barclays boosted their target price on TXNM Energy from $46.00 to $52.00 and gave the company an “overweight” rating in a research report on Friday, November 29th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $52.00.

TXNM Energy Trading Up 0.3 %

TXNM Energy stock opened at $47.24 on Friday. The company has a market capitalization of $4.26 billion, a price-to-earnings ratio of 24.60, a price-to-earnings-growth ratio of 6.07 and a beta of 0.40. The firm has a fifty day simple moving average of $47.70. TXNM Energy has a 1-year low of $34.63 and a 1-year high of $50.28. The company has a debt-to-equity ratio of 1.80, a current ratio of 0.36 and a quick ratio of 0.27.

TXNM Energy (NYSE:TXNM) last announced its quarterly earnings results on Friday, November 1st. The company reported $1.43 earnings per share for the quarter, beating the consensus estimate of $1.41 by $0.02. The business had revenue of $569.30 million for 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 firm’s revenue for the quarter was up 12.5% compared to the same quarter last year. During the same quarter last year, the firm earned $1.54 EPS. On average, research analysts forecast that TXNM Energy will post 2.72 EPS for the current year.

TXNM Energy Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Friday, January 31st will be issued a dividend of $0.4075 per share. The ex-dividend date is Friday, January 31st. This represents a $1.63 annualized dividend and a yield of 3.45%. This is an increase from TXNM Energy’s previous quarterly dividend of $0.39. TXNM Energy’s dividend payout ratio is 84.90%.

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.