TXNM Energy (NYSE:TXNM) Releases FY24 Earnings Guidance

TXNM Energy (NYSE:TXNM) issued an update on its FY24 earnings guidance on Friday 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 $2.71. TXNM Energy also updated its FY 2024 guidance to 2.700-2.750 EPS.

TXNM Energy Stock Performance

Shares of NYSE:TXNM traded up $0.20 during trading on Monday, hitting $42.48. The company’s stock had a trading volume of 262,077 shares, compared to its average volume of 930,096. The stock has a market cap of $3.83 billion, a P/E ratio of 46.46, a PEG ratio of 6.33 and a beta of 0.36. The company has a debt-to-equity ratio of 1.88, a current ratio of 0.47 and a quick ratio of 0.37. TXNM Energy has a fifty-two week low of $34.63 and a fifty-two week high of $45.88. The firm’s 50 day simple moving average is $42.78.

TXNM Energy (NYSE:TXNM) last issued its earnings results on Friday, November 1st. The company reported $1.43 EPS for the quarter, hitting analysts’ consensus estimates of $1.43. TXNM Energy had a net margin of 4.50% and a return on equity of 10.15%. The firm had revenue of $569.30 million during the quarter, compared to the consensus estimate of $588.88 million. During the same quarter in the previous year, the firm posted $1.54 earnings per share. The company’s revenue was up 12.5% compared to the same quarter last year. As a group, equities analysts expect that TXNM Energy will post 2.71 earnings per share for the current fiscal year.

TXNM Energy Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, November 8th. Shareholders of record on Monday, October 28th will be given a dividend of $0.3875 per share. This represents a $1.55 annualized dividend and a yield of 3.65%. The ex-dividend date is Monday, October 28th. TXNM Energy’s dividend payout ratio (DPR) is 170.33%.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on TXNM. Jefferies Financial Group assumed coverage on TXNM Energy in a research report on Wednesday, October 2nd. They issued a “buy” rating and a $50.00 price target on the stock. Barclays upped their price target on TXNM Energy from $45.00 to $46.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 15th. Scotiabank started coverage on shares of 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. Finally, Wells Fargo & Company upped their price objective 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.

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.