TXNM Energy, Inc. (NYSE:TXNM) Announces Dividend Increase – $0.41 Per Share

TXNM Energy, Inc. (NYSE:TXNM) announced a quarterly dividend on Tuesday, December 3rd,RTT News reports. Investors of record on Friday, January 31st will be paid a dividend of 0.4075 per share on Friday, February 14th. This represents a $1.63 annualized dividend and a yield of 3.30%. This is a boost from TXNM Energy’s previous quarterly dividend of $0.39.

TXNM Energy Stock Performance

TXNM traded up $0.39 during trading on Tuesday, reaching $49.44. 589,155 shares of the company traded hands, compared to its average volume of 930,731. TXNM Energy has a 12-month low of $34.63 and a 12-month high of $49.76. The company has a current ratio of 0.36, a quick ratio of 0.27 and a debt-to-equity ratio of 1.80. The business’s fifty day simple moving average is $45.05. The stock has a market capitalization of $4.46 billion, a P/E ratio of 25.75, a P/E/G ratio of 6.05 and a beta of 0.40.

TXNM Energy (NYSE:TXNM) last issued its quarterly earnings results on Friday, November 1st. The company reported $1.43 EPS for the quarter, topping analysts’ consensus estimates of $1.41 by $0.02. The company had revenue of $569.30 million during the quarter, compared to analysts’ expectations of $588.88 million. TXNM Energy had a return on equity of 9.69% and a net margin of 9.26%. The firm’s revenue was up 12.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.54 EPS. As a group, sell-side analysts expect that TXNM Energy will post 2.72 earnings per share for the current fiscal year.

Analyst Ratings Changes

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

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.