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

TXNM Energy (NYSE:TXNM) issued an update on its FY 2024 earnings guidance on Friday morning. The company provided EPS guidance of 2.700-2.750 for the period, compared to the consensus EPS 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

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

TXNM Energy Price Performance

Shares of NYSE:TXNM traded up $0.37 on Monday, reaching $42.65. 816,634 shares of the company traded hands, compared to its average volume of 932,700. The stock has a market cap of $3.85 billion, a PE ratio of 46.46, a PEG ratio of 6.33 and a beta of 0.36. TXNM Energy has a fifty-two week low of $34.63 and a fifty-two week high of $45.88. The company has a debt-to-equity ratio of 1.88, a current ratio of 0.47 and a quick ratio of 0.37. The firm has a 50 day simple moving average of $42.78.

TXNM Energy (NYSE:TXNM) last released its earnings results on Friday, November 1st. The company reported $1.43 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.43. The business had revenue of $569.30 million during the quarter, compared to the consensus estimate of $588.88 million. TXNM Energy had a net margin of 4.50% and a return on equity of 10.15%. The firm’s revenue for the quarter was up 12.5% compared to the same quarter last year. During the same quarter last year, the firm earned $1.54 earnings per share. As a group, analysts expect that TXNM Energy will post 2.71 EPS for the current year.

TXNM Energy Announces Dividend

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