TXNM Energy, Inc. (NYSE:TXNM) to Issue $0.39 Quarterly Dividend

TXNM Energy, Inc. (NYSE:TXNM) announced a quarterly dividend on Tuesday, September 24th, Wall Street Journal reports. Shareholders of record on Monday, October 28th will be given a dividend of 0.3875 per share on Friday, November 8th. This represents a $1.55 dividend on an annualized basis and a yield of 3.51%. The ex-dividend date is Monday, October 28th.

TXNM Energy Trading Down 1.3 %

NYSE:TXNM opened at $44.16 on Friday. The stock’s 50-day simple moving average is $42.53. The stock has a market capitalization of $3.98 billion, a PE ratio of 48.53, a P/E/G ratio of 6.32 and a beta of 0.36. TXNM Energy has a 12-month low of $34.63 and a 12-month high of $45.06. 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 (NYSE:TXNM) last released its quarterly earnings data on Wednesday, July 31st. The company reported $0.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.55 by $0.05. TXNM Energy had a net margin of 4.50% and a return on equity of 10.15%. The firm had revenue of $488.10 million for the quarter, compared to analysts’ expectations of $506.98 million. On average, research analysts predict that TXNM Energy will post 2.71 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have recently weighed in on TXNM shares. Scotiabank assumed coverage on TXNM Energy in a research report on Thursday, October 10th. They set a “sector perform” rating and a $46.00 price objective for the company. Jefferies Financial Group assumed 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. Barclays upped their price objective on TXNM Energy from $45.00 to $46.00 and gave the stock an “overweight” rating in a report on Tuesday, October 15th. Finally, Wells Fargo & Company raised their target price on shares of TXNM Energy from $46.00 to $49.00 and gave the company an “overweight” rating in a report on Wednesday, October 16th.

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.