TXNM Energy (NYSE:TXNM) Updates FY24 Earnings Guidance

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

TXNM Energy Trading Up 0.3 %

TXNM stock traded up $0.15 during mid-day trading on Wednesday, reaching $47.24. 662,537 shares of the stock traded hands, compared to its average volume of 810,327. The stock has a fifty day moving average of $47.54. The stock has a market capitalization of $4.26 billion, a P/E ratio of 24.60, a P/E/G 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 has a 52-week low of $34.63 and a 52-week high of $50.28.

TXNM Energy (NYSE:TXNM - Get Free Report) last posted its quarterly earnings data on Friday, November 1st. The company reported $1.43 EPS for the quarter, topping analysts' consensus estimates of $1.41 by $0.02. TXNM Energy had a net margin of 9.26% and a return on equity of 9.69%. The firm had revenue of $569.30 million during the quarter, compared to analyst estimates of $588.88 million. During the same quarter last year, the business posted $1.54 EPS. The company's revenue was up 12.5% on a year-over-year basis. Equities research analysts expect that TXNM Energy will post 2.72 earnings per share for the current year.

TXNM Energy Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Friday, January 31st will be given a dividend of $0.4075 per share. This represents a $1.63 annualized dividend and a yield of 3.45%. This is a positive change from TXNM Energy's previous quarterly dividend of $0.39. The ex-dividend date is Friday, January 31st. TXNM Energy's payout ratio is presently 84.90%.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on TXNM. Scotiabank boosted 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 report on Thursday, December 12th. Citigroup boosted their price target on shares of TXNM Energy from $45.00 to $53.00 and gave the company a "neutral" rating in a report on Thursday, December 12th. Barclays lifted their price objective on TXNM Energy from $46.00 to $52.00 and gave the company an "overweight" rating in a research report on Friday, November 29th. 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 target price on the stock. Finally, Wells Fargo & Company raised their price target on TXNM Energy from $49.00 to $53.00 and gave the stock an "overweight" rating in a research note on Tuesday, November 26th. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $52.00.

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.