TXNM Energy (NYSE:TXNM) Updates FY24 Earnings Guidance

TXNM Energy (NYSE:TXNM) issued an update on its FY24 earnings guidance on Wednesday 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 Stock Performance

Shares of NYSE:TXNM opened at $47.24 on Friday. The stock has a market cap of $4.26 billion, a P/E ratio of 24.60, a P/E/G ratio of 6.07 and a beta of 0.40. The business has a 50-day moving average of $47.70. 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 fifty-two week low of $34.63 and a fifty-two week high of $50.28.

TXNM Energy (NYSE:TXNM) last released 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 for the quarter, compared to analysts’ expectations of $588.88 million. During the same period in the previous year, the company earned $1.54 earnings per share. The company’s quarterly revenue was up 12.5% on a year-over-year basis. As a group, research analysts predict that TXNM Energy will post 2.72 earnings per share for the current year.

TXNM Energy Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Friday, January 31st will be given a $0.4075 dividend. This is an increase from TXNM Energy’s previous quarterly dividend of $0.39. This represents a $1.63 dividend on an annualized basis and a yield of 3.45%. The ex-dividend date is Friday, January 31st. TXNM Energy’s dividend payout ratio (DPR) is currently 84.90%.

Analysts Set New Price Targets

A number of research analysts have recently commented on TXNM shares. Wells Fargo & Company upped their price target on TXNM Energy from $49.00 to $53.00 and gave the company an “overweight” rating in a research report on Tuesday, November 26th. 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 boosted their price objective 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. Jefferies Financial Group started coverage on TXNM Energy in a research note on Wednesday, October 2nd. They issued a “buy” rating and a $50.00 target price for the company. Finally, Barclays lifted 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. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $52.00.

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.