TXNM Energy (NYSE:TXNM) Updates FY 2024 Earnings Guidance

TXNM Energy (NYSE:TXNM) issued an update on its FY 2024 earnings guidance on Friday morning. The company provided earnings per share guidance of 2.700-2.750 for the period, compared to the consensus earnings per share estimate of 2.710. The company issued revenue guidance of -. TXNM Energy also updated its FY24 guidance to $2.70-2.75 EPS.

TXNM Energy Stock Performance

Shares of TXNM stock traded up $0.37 during trading hours on Monday, reaching $42.65. The company had a trading volume of 816,634 shares, compared to its average volume of 932,700. The firm has a market cap of $3.85 billion, a P/E ratio of 46.46, a price-to-earnings-growth ratio of 6.33 and a beta of 0.36. The stock has a fifty day simple moving average of $42.78. TXNM Energy has a 12-month low of $34.63 and a 12-month high of $45.88. The company has a debt-to-equity ratio of 1.88, a current ratio of 0.47 and a quick ratio of 0.37.

TXNM Energy (NYSE:TXNM) last announced its quarterly earnings data on Friday, November 1st. The company reported $1.43 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.43. TXNM Energy had a net margin of 4.50% and a return on equity of 10.15%. The business had revenue of $569.30 million during the quarter, compared to the consensus estimate of $588.88 million. During the same quarter in the prior year, the firm earned $1.54 EPS. The company’s revenue for the quarter was up 12.5% compared to the same quarter last year. On average, analysts forecast that TXNM Energy will post 2.71 EPS for the current year.

TXNM Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 8th. Shareholders of record on Monday, October 28th will be paid a $0.3875 dividend. The ex-dividend date is Monday, October 28th. This represents a $1.55 dividend on an annualized basis and a yield of 3.63%. TXNM Energy’s dividend payout ratio is currently 170.33%.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. Scotiabank began 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 objective on the stock. Wells Fargo & Company increased their price target on TXNM Energy from $46.00 to $49.00 and gave the company an “overweight” rating in a research report on Wednesday, October 16th. Barclays raised their price objective on shares of TXNM Energy from $45.00 to $46.00 and gave the company an “overweight” rating in a research report on Tuesday, October 15th. Finally, Jefferies Financial Group started coverage on shares of TXNM Energy in a research report on Wednesday, October 2nd. They set a “buy” rating and a $50.00 target price on the stock.

TXNM Energy Company Profile

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.