TXNM Energy (NYSE:TXNM) Updates FY24 Earnings Guidance

TXNM Energy (NYSE:TXNM - Get Free Report) updated its FY24 earnings guidance on Monday. The company provided earnings per share (EPS) guidance of $2.70-2.75 for the period, compared to the consensus estimate of $2.72.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on TXNM. Scotiabank assumed coverage on shares of TXNM Energy in a research note on Thursday, October 10th. They issued a "sector perform" rating and a $46.00 price objective for the company. Barclays boosted their price objective on TXNM Energy from $46.00 to $52.00 and gave the company an "overweight" rating in a report on Friday, November 29th. Jefferies Financial Group assumed coverage on TXNM Energy in a research note on Wednesday, October 2nd. They issued a "buy" rating and a $50.00 target price on the stock. Finally, Wells Fargo & Company boosted their target price on shares of TXNM Energy from $49.00 to $53.00 and gave the company an "overweight" rating in a research note on Tuesday, November 26th.

TXNM Energy Stock Performance

TXNM traded down $0.29 during trading on Monday, hitting $49.04. 598,395 shares of the stock were exchanged, compared to its average volume of 924,816. The company has a debt-to-equity ratio of 1.80, a quick ratio of 0.27 and a current ratio of 0.36. The stock has a 50 day moving average price of $45.44. The firm has a market capitalization of $4.42 billion, a price-to-earnings ratio of 25.69, a price-to-earnings-growth ratio of 6.09 and a beta of 0.40. TXNM Energy has a 1 year low of $34.63 and a 1 year high of $50.28.

TXNM Energy (NYSE:TXNM - Get Free Report) last posted its earnings results on Friday, November 1st. The company reported $1.43 EPS for the quarter, beating 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 business had revenue of $569.30 million for the quarter, compared to the consensus estimate of $588.88 million. During the same quarter last year, the firm posted $1.54 EPS. The company's revenue for the quarter was up 12.5% on a year-over-year basis. As a group, equities analysts anticipate that TXNM Energy will post 2.72 earnings per share for the current fiscal year.

TXNM Energy Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Friday, January 31st will be paid a $0.4075 dividend. This represents a $1.63 annualized dividend and a yield of 3.32%. This is an increase from TXNM Energy's previous quarterly dividend of $0.39. The ex-dividend date is Friday, January 31st. TXNM Energy's dividend payout ratio (DPR) is 80.73%.

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.