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

TXNM Energy (NYSE:TXNM) updated its FY 2024 earnings guidance on Friday. The company provided EPS guidance of 2.700-2.750 for the period, compared to the consensus EPS estimate of 2.710. The company issued revenue guidance of -. TXNM Energy also updated its FY24 guidance to $2.70-2.75 EPS.

TXNM Energy Trading Up 0.9 %

Shares of TXNM stock traded up $0.37 during trading hours on Monday, hitting $42.65. 816,634 shares of the company were exchanged, compared to its average volume of 932,700. The company has a debt-to-equity ratio of 1.88, a current ratio of 0.47 and a quick ratio of 0.37. The firm has a market cap of $3.85 billion, a PE ratio of 46.46, a price-to-earnings-growth ratio of 6.33 and a beta of 0.36. The company’s fifty day moving average price is $42.78. TXNM Energy has a 52-week low of $34.63 and a 52-week high of $45.88.

TXNM Energy (NYSE:TXNM) last released its earnings results on Friday, November 1st. The company reported $1.43 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.43. TXNM Energy had a return on equity of 10.15% and a net margin of 4.50%. The business had revenue of $569.30 million during the quarter, compared to the consensus estimate of $588.88 million. During the same period last year, the business posted $1.54 earnings per share. The business’s revenue for the quarter was up 12.5% on a year-over-year basis. Sell-side analysts anticipate that TXNM Energy will post 2.71 EPS for the current year.

TXNM Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 8th. Investors of record on Monday, October 28th will be paid a $0.3875 dividend. This represents a $1.55 dividend on an annualized basis and a yield of 3.63%. The ex-dividend date of this dividend is Monday, October 28th. TXNM Energy’s dividend payout ratio is currently 170.33%.

Analysts Set New Price Targets

TXNM has been the subject of several recent research reports. Wells Fargo & Company lifted their target price on shares of TXNM Energy from $46.00 to $49.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 16th. Barclays lifted their price objective on shares of TXNM Energy from $45.00 to $46.00 and gave the company an “overweight” rating in a research note on Tuesday, October 15th. Scotiabank assumed coverage on TXNM Energy in a research report on Thursday, October 10th. They set a “sector perform” rating and a $46.00 target price on the stock. Finally, Jefferies Financial Group initiated coverage on TXNM Energy in a research report on Wednesday, October 2nd. They issued a “buy” rating and a $50.00 price target for the company.

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.