TXNM Energy (NYSE:TXNM) Announces Earnings Results

TXNM Energy (NYSE:TXNM) issued its earnings results on Friday. The company reported $1.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.41 by $0.02, RTT News reports. The firm had revenue of $569.30 million for the quarter, compared to analyst estimates of $588.88 million. TXNM Energy had a return on equity of 9.78% and a net margin of 9.26%. The business’s revenue was up 12.5% on a year-over-year basis. During the same period in the previous year, the company posted $1.54 earnings per share. TXNM Energy updated its FY24 guidance to $2.70-2.75 EPS and its FY 2024 guidance to 2.700-2.750 EPS.

TXNM Energy Price Performance

NYSE TXNM opened at $42.65 on Tuesday. The business has a 50 day moving average price of $42.81. 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 1 year low of $34.63 and a 1 year high of $45.88. The stock has a market cap of $3.85 billion, a PE ratio of 22.21, a PEG ratio of 6.13 and a beta of 0.36.

TXNM Energy Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 8th. Investors of record on Monday, October 28th will be issued a dividend of $0.3875 per share. This represents a $1.55 dividend on an annualized basis and a yield of 3.63%. The ex-dividend date of this dividend is Monday, October 28th. TXNM Energy’s dividend payout ratio (DPR) is presently 80.73%.

Wall Street Analyst Weigh In

TXNM has been the topic of a number of research reports. Wells Fargo & Company boosted their price objective on TXNM Energy from $46.00 to $49.00 and gave the company an “overweight” rating in a research note on Wednesday, October 16th. Barclays raised their price objective on shares of TXNM Energy from $45.00 to $46.00 and gave the stock an “overweight” rating in a report on Tuesday, October 15th. Scotiabank began coverage on shares of TXNM Energy in a report on Thursday, October 10th. They set a “sector perform” rating and a $46.00 target price on the stock. Finally, Jefferies Financial Group assumed coverage on TXNM Energy in a report on Wednesday, October 2nd. They issued a “buy” rating and a $50.00 price target for the company.

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.