TXNM Energy, Inc. (TXNM) to Issue Quarterly Dividend of $0.41 on February 14th

TXNM Energy, Inc. (NYSE:TXNM) declared a quarterly dividend on Tuesday, December 3rd,RTT News reports. Investors of record on Friday, January 31st will be given a dividend of 0.4075 per share on Friday, February 14th. This represents a $1.63 annualized dividend and a 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 Stock Performance

TXNM stock opened at $47.23 on Wednesday. TXNM Energy has a fifty-two week low of $34.63 and a fifty-two week high of $50.28. The company has a market capitalization of $4.26 billion, a P/E ratio of 24.60, a price-to-earnings-growth ratio of 5.58 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. The firm has a 50-day moving average price of $48.33.

TXNM Energy (NYSE:TXNM) last released its quarterly earnings results on Friday, November 1st. The company reported $1.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.41 by $0.02. The business had revenue of $569.30 million during the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.54 earnings per share. Equities analysts predict that TXNM Energy will post 2.72 earnings per share for the current year.

Wall Street Analyst Weigh In

TXNM has been the topic of a number of research analyst reports. Jefferies Financial Group began 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. Wells Fargo & Company upped their target price on shares of TXNM Energy from $49.00 to $53.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 26th. Barclays lifted their price target on shares of TXNM Energy from $46.00 to $52.00 and gave the company an “overweight” rating in a report on Friday, November 29th. Scotiabank increased their price objective on shares of TXNM Energy from $46.00 to $52.00 and gave the company a “sector perform” rating in a report on Thursday, December 12th. Finally, Citigroup lifted their target price on TXNM Energy from $45.00 to $53.00 and gave the stock a “neutral” rating in a report on Thursday, December 12th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, TXNM Energy currently has a consensus rating of “Moderate Buy” and a consensus price target of $52.00.

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.