Scotiabank Weighs in on TXNM Energy FY2024 Earnings

TXNM Energy, Inc. (NYSE:TXNM) – Investment analysts at Scotiabank issued their FY2024 earnings per share estimates for shares of TXNM Energy in a research note issued to investors on Wednesday, January 8th. Scotiabank analyst A. Weisel anticipates that the company will earn $2.72 per share for the year. Scotiabank has a “Sector Perform” rating and a $52.00 price target on the stock. The consensus estimate for TXNM Energy’s current full-year earnings is $2.72 per share. Scotiabank also issued estimates for TXNM Energy’s FY2025 earnings at $2.80 EPS and FY2026 earnings at $3.04 EPS.

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

TXNM Energy Trading Up 0.8 %

TXNM stock opened at $47.24 on Monday. The firm’s 50 day moving average price is $47.95. TXNM Energy has a 12-month low of $34.63 and a 12-month high of $50.28. The firm has a market cap of $4.26 billion, a price-to-earnings ratio of 24.60, a P/E/G ratio of 6.07 and a beta of 0.40. The company has a debt-to-equity ratio of 1.80, a quick ratio of 0.27 and a current ratio of 0.36.

TXNM Energy (NYSE:TXNM) last posted its quarterly earnings data on Friday, November 1st. The company reported $1.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.41 by $0.02. The company 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%. TXNM Energy’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 EPS.

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. This represents a $1.63 annualized dividend and a dividend yield of 3.45%. The ex-dividend date is Friday, January 31st. This is an increase from TXNM Energy’s previous quarterly dividend of $0.39. 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.