TXNM Energy (NYSE:TXNM) Releases FY24 Earnings Guidance

TXNM Energy (NYSE:TXNM) issued an update on its FY24 earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of $2.70-2.75 for the period, compared to the consensus estimate of $2.72.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on TXNM. Wells Fargo & Company upped their target price on shares of TXNM Energy from $49.00 to $53.00 and gave the company an “overweight” rating in a report on Tuesday, November 26th. Citigroup upped their price objective on TXNM Energy from $45.00 to $53.00 and gave the company a “neutral” rating in a research note on Thursday, December 12th. 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 boosted 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. Finally, Jefferies Financial Group began coverage on TXNM Energy in a report on Wednesday, October 2nd. They set a “buy” rating and a $50.00 price target for the company. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, TXNM Energy has a consensus rating of “Moderate Buy” and a consensus target price of $52.00.

TXNM Energy Trading Down 0.1 %

Shares of TXNM opened at $47.12 on Wednesday. The company has a debt-to-equity ratio of 1.80, a current ratio of 0.36 and a quick ratio of 0.27. The firm has a 50 day simple moving average of $47.54. TXNM Energy has a twelve month low of $34.63 and a twelve month high of $50.28. 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 analysts’ consensus estimates of $1.41 by $0.02. The firm had revenue of $569.30 million for the quarter, compared to the consensus estimate of $588.88 million. TXNM Energy had a return on equity of 9.69% and a net margin of 9.26%. 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 business earned $1.54 earnings per share. On average, sell-side 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. Stockholders of record on Friday, January 31st will be paid a dividend of $0.4075 per share. The ex-dividend date is Friday, January 31st. This is a boost from TXNM Energy’s previous quarterly dividend of $0.39. This represents a $1.63 dividend on an annualized basis and a dividend yield of 3.46%. TXNM Energy’s dividend payout ratio is 84.90%.

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.