TXNM Energy (NYSE:TXNM) Updates FY24 Earnings Guidance

TXNM Energy (NYSE:TXNM) issued an update on its FY24 earnings guidance on Monday morning. 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 Price Performance

NYSE:TXNM opened at $49.33 on Monday. The company has a quick ratio of 0.27, a current ratio of 0.36 and a debt-to-equity ratio of 1.80. The stock has a fifty day moving average price of $45.44. TXNM Energy has a 1 year low of $34.63 and a 1 year high of $50.28. The stock has a market capitalization of $4.45 billion, a P/E ratio of 25.69, a P/E/G ratio of 6.09 and a beta of 0.40.

TXNM Energy (NYSE:TXNM) last announced its earnings results on Friday, November 1st. The company reported $1.43 earnings per share for the quarter, topping analysts’ consensus estimates of $1.41 by $0.02. The business had revenue of $569.30 million for the quarter, compared to analyst estimates of $588.88 million. TXNM Energy had a return on equity of 9.69% and a net margin of 9.26%. The company’s quarterly revenue was up 12.5% compared to the same quarter last year. During the same period in the prior year, the company earned $1.54 EPS. As a group, analysts anticipate that TXNM Energy will post 2.72 earnings per share for the current year.

TXNM Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Friday, January 31st will be given a dividend of $0.4075 per share. The ex-dividend date is Friday, January 31st. This is a positive change from TXNM Energy’s previous quarterly dividend of $0.39. This represents a $1.63 annualized dividend and a dividend yield of 3.30%. TXNM Energy’s dividend payout ratio is 80.73%.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on TXNM. Jefferies Financial Group began coverage on TXNM Energy in a report on Wednesday, October 2nd. They set a “buy” rating and a $50.00 target price for the company. Scotiabank began coverage on TXNM Energy in a report on Thursday, October 10th. They set a “sector perform” rating and a $46.00 target price for the company. Wells Fargo & Company increased their price objective on TXNM Energy from $49.00 to $53.00 and gave the stock an “overweight” rating in a report on Tuesday, November 26th. Finally, Barclays increased their price objective on TXNM Energy from $46.00 to $52.00 and gave the stock an “overweight” rating in a report on Friday, November 29th.

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.