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

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

Analyst Upgrades and Downgrades

A number of research analysts have commented on the stock. 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 on the stock. Barclays raised their target price on shares of TXNM Energy from $45.00 to $46.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 15th. Scotiabank assumed coverage on shares of TXNM Energy in a research note on Thursday, October 10th. They set a “sector perform” rating and a $46.00 price target on the stock. Finally, Wells Fargo & Company lifted their price objective on TXNM Energy from $46.00 to $49.00 and gave the company an “overweight” rating in a report on Wednesday, October 16th.

TXNM Energy Stock Up 2.4 %

TXNM opened at $44.57 on Friday. The firm has a market capitalization of $4.02 billion, a price-to-earnings ratio of 47.85, a P/E/G ratio of 6.24 and a beta of 0.36. The firm’s fifty day moving average is $42.75. TXNM Energy has a 52 week low of $34.63 and a 52 week high of $45.88. The company has a current ratio of 0.47, a quick ratio of 0.37 and a debt-to-equity ratio of 1.88.

TXNM Energy (NYSE:TXNM) last posted 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 analyst estimates of $588.88 million. During the same quarter in the previous year, the business posted $1.54 earnings per share. The company’s revenue was up 12.5% on a year-over-year basis. As a group, equities analysts expect that TXNM Energy will post 2.71 EPS for the current fiscal year.

TXNM Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 8th. Investors of record on Monday, October 28th will be given a dividend of $0.3875 per share. The ex-dividend date of this dividend is Monday, October 28th. This represents a $1.55 dividend on an annualized basis and a yield of 3.48%. TXNM Energy’s dividend payout ratio (DPR) is 170.33%.

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.