TXNM Energy (NYSE:TXNM) Updates FY24 Earnings Guidance

TXNM Energy (NYSE:TXNM) updated its FY24 earnings guidance on Friday. The company provided earnings per share (EPS) guidance of $2.70-2.75 for the period, compared to the consensus estimate of $2.71. TXNM Energy also updated its FY 2024 guidance to 2.700-2.750 EPS.

TXNM Energy Trading Up 0.5 %

NYSE TXNM traded up $0.23 during midday trading on Monday, hitting $42.51. The company had a trading volume of 266,469 shares, compared to its average volume of 930,026. The stock has a market cap of $3.83 billion, a P/E ratio of 46.46, a PEG ratio of 6.33 and a beta of 0.36. The company has a quick ratio of 0.37, a current ratio of 0.47 and a debt-to-equity ratio of 1.88. TXNM Energy has a twelve month low of $34.63 and a twelve month high of $45.88. The business has a 50-day moving average of $42.78.

TXNM Energy (NYSE:TXNM) last issued its quarterly earnings data on Friday, November 1st. The company reported $1.43 EPS for the quarter, meeting the consensus estimate of $1.43. The business had revenue of $569.30 million during the quarter, compared to the consensus estimate of $588.88 million. TXNM Energy had a net margin of 4.50% and a return on equity of 10.15%. The firm’s revenue was up 12.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.54 EPS. On average, equities analysts anticipate that TXNM Energy will post 2.71 EPS for the current year.

TXNM Energy Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, November 8th. Shareholders of record on Monday, October 28th will be given a dividend of $0.3875 per share. The ex-dividend date of this dividend is Monday, October 28th. This represents a $1.55 dividend on an annualized basis and a yield of 3.65%. TXNM Energy’s dividend payout ratio (DPR) is currently 170.33%.

Analyst Upgrades and Downgrades

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

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.