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

TXNM Energy (NYSE:TXNM - Get Free Report) issued an update on its FY 2024 earnings guidance on Friday morning. The company provided earnings per share (EPS) guidance of 2.700-2.750 for the period, compared to the consensus 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 Stock Performance

Shares of TXNM Energy stock traded down $1.26 during trading on Friday, reaching $42.28. The company had a trading volume of 1,136,682 shares, compared to its average volume of 933,248. The firm has a market capitalization of $3.81 billion, a P/E ratio of 46.46, a price-to-earnings-growth ratio of 6.24 and a beta of 0.36. The firm's fifty day simple moving average is $42.78. The company has a debt-to-equity ratio of 1.88, a quick ratio of 0.37 and a current ratio of 0.47. TXNM Energy has a fifty-two week low of $34.63 and a fifty-two week high of $45.88.

TXNM Energy (NYSE:TXNM - Get Free Report) last issued its earnings results on Friday, November 1st. The company reported $1.43 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $1.43. The business had revenue of $569.30 million for the quarter, compared to analyst estimates of $588.88 million. TXNM Energy had a net margin of 4.50% and a return on equity of 10.15%. The company's revenue for the quarter was up 12.5% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.54 EPS. On average, research analysts anticipate that TXNM Energy will post 2.71 EPS for the current fiscal year.

TXNM Energy Dividend Announcement

The firm 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 dividend of $0.3875 per share. The ex-dividend date is Monday, October 28th. This represents a $1.55 annualized dividend and a yield of 3.67%. TXNM Energy's dividend payout ratio (DPR) is 170.33%.

Wall Street Analyst Weigh In

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

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.