TXNM Energy (NYSE:TXNM) Releases FY24 Earnings Guidance

TXNM Energy (NYSE:TXNM) updated its FY24 earnings guidance on Wednesday. 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 Upgrades and Downgrades

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

TXNM Energy Stock Performance

Shares of NYSE TXNM opened at $47.24 on Thursday. The firm has a 50 day moving average price of $47.63. TXNM Energy has a 52 week low of $34.63 and a 52 week high of $50.28. The company has a market cap of $4.26 billion, a PE ratio of 24.60, a price-to-earnings-growth ratio of 6.07 and a beta of 0.40. The company has a current ratio of 0.36, a quick ratio of 0.27 and a debt-to-equity ratio of 1.80.

TXNM Energy (NYSE:TXNM) last posted its earnings results on Friday, November 1st. The company reported $1.43 EPS for the quarter, topping the consensus estimate of $1.41 by $0.02. The company 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 9.26% and a return on equity of 9.69%. The company’s revenue for the quarter was up 12.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.54 earnings per share. On average, analysts predict that TXNM Energy will post 2.72 EPS 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 given a $0.4075 dividend. The ex-dividend date is Friday, January 31st. This represents a $1.63 dividend on an annualized basis and a dividend yield of 3.45%. This is a boost from TXNM Energy’s previous quarterly dividend of $0.39. TXNM Energy’s payout ratio is currently 84.90%.

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.