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

TXNM Energy (NYSE:TXNM) issued an update on its FY 2024 earnings guidance on Saturday morning. The company provided earnings per share guidance of 2.700-2.750 for the period, compared to the consensus earnings per share estimate of 2.730. The company issued revenue guidance of -.

Wall Street Analyst Weigh In

TXNM has been the subject of several recent analyst reports. Citigroup lifted their price objective on shares of TXNM Energy from $45.00 to $53.00 and gave the stock a “neutral” rating in a research report on Thursday, December 12th. Wells Fargo & Company increased their price target on shares of TXNM Energy from $49.00 to $53.00 and gave the company an “overweight” rating in a research note on Tuesday, November 26th. 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. Barclays upped their target price on TXNM Energy from $46.00 to $52.00 and gave the company an “overweight” rating in a research report on Friday, November 29th. Finally, Scotiabank increased their price target on TXNM Energy from $46.00 to $52.00 and gave the stock a “sector perform” rating in a report on Thursday, December 12th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $52.00.

TXNM Energy Price Performance

Shares of TXNM opened at $47.93 on Monday. The company has a debt-to-equity ratio of 1.80, a quick ratio of 0.27 and a current ratio of 0.36. TXNM Energy has a 1-year low of $34.63 and a 1-year high of $50.28. The stock has a market cap of $4.32 billion, a PE ratio of 24.96, a price-to-earnings-growth ratio of 6.07 and a beta of 0.40. The stock’s 50 day simple moving average is $46.41.

TXNM Energy (NYSE:TXNM) last posted its quarterly earnings results on Friday, November 1st. The company reported $1.43 EPS for the quarter, beating the consensus estimate 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% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.54 EPS. On average, equities analysts expect that TXNM Energy will post 2.72 earnings per share for the current fiscal year.

TXNM Energy Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Friday, January 31st will be paid a dividend of $0.4075 per share. This is an increase from TXNM Energy’s previous quarterly dividend of $0.39. The ex-dividend date of this dividend is Friday, January 31st. This represents a $1.63 annualized dividend and a yield of 3.40%. TXNM Energy’s payout ratio is 84.90%.

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.