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

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

TXNM Energy Trading Down 1.3 %

TXNM stock opened at $44.16 on Friday. The stock has a market cap of $3.98 billion, a PE ratio of 48.53, a PEG 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 business’s 50-day moving average price is $42.53. The company has a debt-to-equity ratio of 1.88, a quick ratio of 0.37 and a current ratio of 0.47.

TXNM Energy (NYSE:TXNM) last announced its quarterly earnings data on Wednesday, July 31st. The company reported $0.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.55 by $0.05. The business had revenue of $488.10 million during the quarter, compared to the consensus estimate of $506.98 million. TXNM Energy had a net margin of 4.50% and a return on equity of 10.15%. Sell-side analysts forecast that TXNM Energy will post 2.71 EPS for the current year.

Analyst Ratings Changes

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

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.