TXNM Energy (NYSE:TXNM) Issues FY24 Earnings Guidance

TXNM Energy (NYSE:TXNM - Get Free Report) issued an update on its FY24 earnings guidance on Monday morning. 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 Price Performance

Shares of TXNM stock traded up $0.66 during trading on Monday, reaching $45.38. The company's stock had a trading volume of 420,866 shares, compared to its average volume of 935,274. The company has a 50-day simple moving average of $43.10. The firm has a market cap of $4.09 billion, a P/E ratio of 23.61, a price-to-earnings-growth ratio of 6.48 and a beta of 0.36. The company has a quick ratio of 0.37, a current ratio of 0.36 and a debt-to-equity ratio of 1.80. TXNM Energy has a 1-year low of $34.63 and a 1-year high of $45.88.

TXNM Energy (NYSE:TXNM - Get Free Report) last released its earnings results on Friday, November 1st. The company reported $1.43 earnings per share for the quarter, topping analysts' consensus estimates of $1.41 by $0.02. The firm had revenue of $569.30 million for the quarter, compared to analyst estimates of $588.88 million. TXNM Energy had a net margin of 9.26% and a return on equity of 9.69%. The business's quarterly revenue was up 12.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.54 earnings per share. On average, sell-side analysts anticipate that TXNM Energy will post 2.72 EPS for the current fiscal year.

TXNM Energy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, November 8th. Investors of record on Monday, October 28th were paid a dividend of $0.3875 per share. The ex-dividend date of this dividend was Monday, October 28th. This represents a $1.55 annualized dividend and a yield of 3.42%. TXNM Energy's dividend payout ratio is currently 80.73%.

Analysts Set New Price Targets

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

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.