TXNM Energy (NYSE:TXNM) Issues FY24 Earnings Guidance

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

TXNM Energy Stock Performance

TXNM opened at $47.12 on Wednesday. The stock has a market capitalization of $4.25 billion, a PE ratio of 24.54, a price-to-earnings-growth ratio of 6.07 and a beta of 0.40. TXNM Energy has a fifty-two week low of $34.63 and a fifty-two week high of $50.28. The company has a quick ratio of 0.27, a current ratio of 0.36 and a debt-to-equity ratio of 1.80. The company’s fifty day moving average is $47.54.

TXNM Energy (NYSE:TXNM) last issued its quarterly earnings data 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 analyst estimates of $588.88 million. TXNM Energy had a return on equity of 9.69% and a net margin of 9.26%. During the same quarter last year, the business posted $1.54 earnings per share. The business’s quarterly revenue was up 12.5% compared to the same quarter last year. On average, equities research analysts forecast that TXNM Energy will post 2.72 earnings per share for the current year.

TXNM Energy Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Friday, January 31st will be given a dividend of $0.4075 per share. This is an increase from TXNM Energy’s previous quarterly dividend of $0.39. This represents a $1.63 dividend on an annualized basis and a dividend yield of 3.46%. The ex-dividend date is Friday, January 31st. TXNM Energy’s dividend payout ratio is currently 84.90%.

Wall Street Analyst Weigh In

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

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.