TXNM Energy (NYSE:TXNM) Releases FY24 Earnings Guidance

TXNM Energy (NYSE:TXNM) updated its FY24 earnings guidance on Friday. The company provided earnings per share (EPS) guidance of $2.70-2.75 for the period, compared to the consensus estimate of $2.71. TXNM Energy also updated its FY 2024 guidance to 2.700-2.750 EPS.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the stock. Wells Fargo & Company upped their price objective on shares of TXNM Energy from $46.00 to $49.00 and gave the company an “overweight” rating in a research note on Wednesday, October 16th. Jefferies Financial Group started coverage on shares of TXNM Energy in a research report on Wednesday, October 2nd. They issued a “buy” rating and a $50.00 target price for the company. Scotiabank assumed coverage on TXNM Energy in a report on Thursday, October 10th. They set a “sector perform” rating and a $46.00 target price on the stock. Finally, Barclays upped their target price on TXNM Energy from $45.00 to $46.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 15th.

TXNM Energy Stock Performance

Shares of TXNM traded up $0.08 during trading hours on Monday, reaching $42.36. 227,812 shares of the company traded hands, compared to its average volume of 929,856. The company has a current ratio of 0.47, a quick ratio of 0.37 and a debt-to-equity ratio of 1.88. The firm has a market cap of $3.82 billion, a PE ratio of 46.46, a P/E/G ratio of 6.33 and a beta of 0.36. TXNM Energy has a 1-year low of $34.63 and a 1-year high of $45.88. The firm has a fifty day moving average of $42.78.

TXNM Energy (NYSE:TXNM) last issued its quarterly earnings data on Friday, November 1st. The company reported $1.43 earnings per share for the quarter, hitting the consensus estimate of $1.43. The firm had revenue of $569.30 million for the quarter, compared to analysts’ expectations of $588.88 million. TXNM Energy had a net margin of 4.50% and a return on equity of 10.15%. The company’s quarterly revenue was up 12.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.54 earnings per share. On average, equities research analysts predict that TXNM Energy will post 2.71 EPS for the current year.

TXNM Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 8th. Shareholders of record on Monday, October 28th will be paid a dividend of $0.3875 per share. The ex-dividend date is Monday, October 28th. This represents a $1.55 annualized dividend and a yield of 3.66%. TXNM Energy’s dividend payout ratio is 170.33%.

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.