TXNM Energy (NYSE:TXNM) Updates 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 -.

TXNM Energy Price Performance

NYSE:TXNM opened at $47.93 on Friday. The company’s 50 day moving average price is $46.41. TXNM Energy has a 1-year low of $34.63 and a 1-year high of $50.28. The stock has a market cap of $4.32 billion, a price-to-earnings ratio of 24.96, a price-to-earnings-growth ratio of 6.07 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.

TXNM Energy (NYSE:TXNM) last announced its quarterly earnings results on Friday, November 1st. The company reported $1.43 earnings per share 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 firm had revenue of $569.30 million during the quarter, compared to analyst estimates of $588.88 million. During the same quarter in the previous year, the business earned $1.54 EPS. TXNM Energy’s revenue for the quarter was up 12.5% compared to the same quarter last year. On average, sell-side analysts anticipate that TXNM Energy will post 2.72 earnings per share for the current fiscal year.

TXNM Energy Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Friday, January 31st will be paid a $0.4075 dividend. The ex-dividend date is Friday, January 31st. This is a positive change from TXNM Energy’s previous quarterly dividend of $0.39. This represents a $1.63 dividend on an annualized basis and a yield of 3.40%. TXNM Energy’s dividend payout ratio (DPR) is currently 84.90%.

Analyst Upgrades and Downgrades

Several research firms recently commented on TXNM. 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 objective for the company. Barclays increased their target price on shares of TXNM Energy from $46.00 to $52.00 and gave the company an “overweight” rating in a research report on Friday, November 29th. Scotiabank upped their price objective on shares of TXNM Energy from $46.00 to $52.00 and gave the company a “sector perform” rating in a research note on Thursday, December 12th. Citigroup lifted their price objective on TXNM Energy from $45.00 to $53.00 and gave the stock a “neutral” rating in a research report on Thursday, December 12th. Finally, Wells Fargo & Company upped their target price on TXNM Energy from $49.00 to $53.00 and gave the company an “overweight” rating in a report on Tuesday, November 26th. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $52.00.

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.