TXNM Energy (NYSE:TXNM) Releases FY24 Earnings Guidance

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

Analyst Ratings Changes

TXNM has been the topic of several research reports. Barclays upped their price objective on shares of TXNM Energy from $46.00 to $52.00 and gave the company an “overweight” rating in a research note on Friday, November 29th. Jefferies Financial Group started coverage on shares of TXNM Energy in a research note on Wednesday, October 2nd. They issued a “buy” rating and a $50.00 price target on the stock. Wells Fargo & Company lifted their price objective on TXNM Energy from $49.00 to $53.00 and gave the company an “overweight” rating in a research report on Tuesday, November 26th. Finally, Scotiabank began coverage on TXNM Energy in a research report on Thursday, October 10th. They issued a “sector perform” rating and a $46.00 target price on the stock.

TXNM Energy Trading Down 1.6 %

TXNM Energy stock opened at $49.33 on Monday. The company has a quick ratio of 0.27, a current ratio of 0.36 and a debt-to-equity ratio of 1.80. TXNM Energy has a 1-year low of $34.63 and a 1-year high of $50.28. The firm’s fifty day simple moving average is $45.44. The company has a market cap of $4.45 billion, a P/E ratio of 25.69, a P/E/G ratio of 6.09 and a beta of 0.40.

TXNM Energy (NYSE:TXNM) last posted its 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 company 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 9.69% and a net margin of 9.26%. The business’s revenue was up 12.5% compared to the same quarter last year. During the same period last year, the company earned $1.54 earnings per share. On average, equities research analysts predict that TXNM Energy will post 2.72 earnings per share for the current year.

TXNM Energy Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Friday, January 31st will be issued a dividend of $0.4075 per share. This represents a $1.63 annualized dividend and a yield of 3.30%. The ex-dividend date is Friday, January 31st. This is an increase from TXNM Energy’s previous quarterly dividend of $0.39. TXNM Energy’s dividend payout ratio (DPR) is 80.73%.

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.