TXNM Energy (NYSE:TXNM) Releases FY 2024 Earnings Guidance

TXNM Energy (NYSE:TXNM) updated its FY 2024 earnings guidance on Saturday. The company provided EPS guidance of 2.700-2.750 for the period, compared to the consensus EPS estimate of 2.730. The company issued revenue guidance of -.

TXNM Energy Trading Up 0.5 %

Shares of TXNM stock opened at $47.93 on Monday. The company has a market capitalization of $4.32 billion, a PE ratio of 24.96, a price-to-earnings-growth ratio of 6.07 and a beta of 0.40. The stock has a 50-day moving average price of $46.41. The company has a quick ratio of 0.27, a current ratio of 0.36 and a debt-to-equity ratio of 1.80. TXNM Energy has a 12-month low of $34.63 and a 12-month high of $50.28.

TXNM Energy (NYSE:TXNM) last posted its 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. TXNM Energy had a net margin of 9.26% and a return on equity of 9.69%. The firm had revenue of $569.30 million during the quarter, compared to analyst estimates of $588.88 million. During the same period last year, the firm posted $1.54 earnings per share. TXNM Energy’s revenue for the quarter was up 12.5% compared to the same quarter last year. As a group, research analysts predict that TXNM Energy will post 2.72 EPS for the current fiscal year.

TXNM Energy Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Investors 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 3.40%. TXNM Energy’s payout ratio is currently 84.90%.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on TXNM. Citigroup raised their price target on TXNM Energy from $45.00 to $53.00 and gave the stock a “neutral” rating in a report on Thursday, December 12th. Scotiabank lifted their target price on shares of TXNM Energy from $46.00 to $52.00 and gave the company a “sector perform” rating in a report on Thursday, December 12th. Barclays raised their target price on TXNM Energy from $46.00 to $52.00 and gave the company an “overweight” rating in a research report on Friday, November 29th. Wells Fargo & Company increased their price target on TXNM Energy from $49.00 to $53.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 26th. Finally, Jefferies Financial Group began coverage on TXNM Energy in a research note on Wednesday, October 2nd. They set a “buy” rating and a $50.00 target price for the company. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, TXNM Energy has a consensus rating of “Moderate Buy” and an average target price of $52.00.

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.