TXNM Energy (NYSE:TXNM) Releases FY24 Earnings Guidance

TXNM Energy (NYSE:TXNM) issued an update on its FY24 earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of $2.70-2.75 for the period, compared to the consensus estimate of $2.72.

Analysts Set New Price Targets

TXNM has been the topic of a number of research analyst reports. Jefferies Financial Group started coverage on shares of TXNM Energy in a report on Wednesday, October 2nd. They issued a “buy” rating and a $50.00 price target on the stock. Scotiabank upped their target price on shares of TXNM Energy from $46.00 to $52.00 and gave the stock a “sector perform” rating in a research note 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. Barclays increased their price objective on TXNM Energy from $46.00 to $52.00 and gave the stock an “overweight” rating in a research note on Friday, November 29th. Finally, Wells Fargo & Company lifted their target price on TXNM Energy from $49.00 to $53.00 and gave the company an “overweight” rating in a research report on Tuesday, November 26th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $52.00.

TXNM Energy Stock Performance

NYSE TXNM opened at $47.12 on Wednesday. The company has a market capitalization of $4.25 billion, a P/E ratio of 24.54, a PEG ratio of 6.07 and a beta of 0.40. The company’s 50 day simple moving average is $47.54. The company has a current ratio of 0.36, a quick ratio of 0.27 and a debt-to-equity ratio of 1.80. TXNM Energy has a 52-week low of $34.63 and a 52-week high of $50.28.

TXNM Energy (NYSE:TXNM) last announced its 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. TXNM Energy had a return on equity of 9.69% and a net margin of 9.26%. The business had revenue of $569.30 million for the quarter, compared to analysts’ expectations of $588.88 million. During the same quarter last year, the firm earned $1.54 EPS. The business’s revenue for the quarter was up 12.5% on a year-over-year basis. On average, analysts forecast that TXNM Energy will post 2.72 earnings per share for the current fiscal year.

TXNM Energy Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Friday, January 31st will be paid a $0.4075 dividend. This represents a $1.63 annualized dividend and a yield of 3.46%. The ex-dividend date of this dividend is Friday, January 31st. This is a positive change from TXNM Energy’s previous quarterly dividend of $0.39. TXNM Energy’s 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.