TXNM Energy (NYSE:TXNM) Issues FY24 Earnings Guidance

TXNM Energy (NYSE:TXNM) updated its FY24 earnings guidance on Monday. The company provided EPS guidance of $2.70-2.75 for the period, compared to the consensus EPS estimate of $2.71.

Wall Street Analyst Weigh In

TXNM has been the topic of a number of recent analyst reports. Scotiabank assumed coverage on 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. Wells Fargo & Company boosted their price target on shares of TXNM Energy from $46.00 to $49.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 16th. Jefferies Financial Group began 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. Finally, Barclays lifted their target price on shares of TXNM Energy from $45.00 to $46.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 15th.

TXNM Energy Stock Performance

Shares of TXNM stock opened at $45.37 on Tuesday. The company has a market capitalization of $4.09 billion, a P/E ratio of 23.63, a P/E/G ratio of 6.48 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 business has a 50 day simple moving average of $43.10. The company has a debt-to-equity ratio of 1.80, a quick ratio of 0.37 and a current ratio of 0.36.

TXNM Energy (NYSE:TXNM) last released its quarterly earnings data 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 company had revenue of $569.30 million during the quarter, compared to analyst estimates of $588.88 million. TXNM Energy had a net margin of 9.26% and a return on equity of 9.69%. TXNM Energy’s revenue for the quarter was up 12.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.54 EPS. On average, research analysts predict that TXNM Energy will post 2.72 earnings per share for the current year.

TXNM Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 8th. Stockholders of record on Monday, October 28th were given a dividend of $0.3875 per share. The ex-dividend date was Monday, October 28th. This represents a $1.55 dividend on an annualized basis and a dividend yield of 3.42%. TXNM Energy’s dividend payout ratio (DPR) is presently 80.73%.

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.