TXNM Energy (NYSE:TXNM) Releases FY 2024 Earnings Guidance

TXNM Energy (NYSE:TXNM) issued an update on its FY 2024 earnings guidance on Saturday morning. The company provided EPS guidance of 2.700-2.750 for the period, compared to the consensus EPS estimate of 2.730. The company issued revenue guidance of -.

Wall Street Analysts Forecast Growth

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

TXNM Energy Price Performance

Shares of NYSE:TXNM opened at $47.93 on Friday. The business’s 50-day simple moving average is $46.41. TXNM Energy has a one year low of $34.63 and a one year high of $50.28. The company has a quick ratio of 0.27, a current ratio of 0.36 and a debt-to-equity ratio of 1.80. The company has a market cap of $4.32 billion, a PE ratio of 24.96, a PEG ratio of 6.07 and a beta of 0.40.

TXNM Energy (NYSE:TXNM) last issued its quarterly earnings results on Friday, November 1st. The company reported $1.43 EPS for the quarter, beating the consensus estimate of $1.41 by $0.02. The firm had revenue of $569.30 million during the quarter, compared to analysts’ expectations of $588.88 million. TXNM Energy had a return on equity of 9.69% and a net margin of 9.26%. The business’s quarterly revenue was up 12.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.54 earnings per share. On average, analysts anticipate that TXNM Energy will post 2.72 earnings per share for the current fiscal year.

TXNM Energy Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Friday, January 31st will be given a dividend of $0.4075 per share. This is a positive change from TXNM Energy’s previous quarterly dividend of $0.39. This represents a $1.63 annualized dividend and a yield of 3.40%. The ex-dividend date is Friday, January 31st. 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.