TXNM Energy (NYSE:TXNM) Issues 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.

TXNM Energy Stock Down 0.1 %

NYSE TXNM opened at $47.12 on Wednesday. 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 52 week low of $34.63 and a 52 week high of $50.28. The business’s fifty day moving average is $47.54. The stock has a market cap of $4.25 billion, a price-to-earnings ratio of 24.54, a PEG ratio of 6.07 and a beta of 0.40.

TXNM Energy (NYSE:TXNM) last posted its quarterly 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 business had revenue of $569.30 million during the quarter, compared to analysts’ expectations of $588.88 million. TXNM Energy had a net margin of 9.26% and a return on equity of 9.69%. The business’s revenue for the quarter was up 12.5% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.54 EPS. Research analysts expect that TXNM Energy will post 2.72 EPS for the current year.

TXNM Energy Increases Dividend

The firm also recently announced 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 yield of 3.46%. This is an increase from TXNM Energy’s previous quarterly dividend of $0.39. TXNM Energy’s payout ratio is currently 84.90%.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. Citigroup raised their price objective on TXNM Energy from $45.00 to $53.00 and gave the stock a “neutral” rating in a research report on Thursday, December 12th. Barclays boosted their price target 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 assumed 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. Wells Fargo & Company boosted their target price 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 raised their price target on TXNM Energy from $46.00 to $52.00 and gave the stock a “sector perform” rating in a research report on Thursday, December 12th. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $52.00.

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.