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

TXNM Energy (NYSE:TXNM) updated its FY 2024 earnings guidance on Friday. 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.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on TXNM shares. Jefferies Financial Group started coverage on TXNM Energy in a report on Wednesday, October 2nd. They set a “buy” rating and a $50.00 price target for the company. Scotiabank started coverage on TXNM Energy in a report on Thursday, October 10th. They set a “sector perform” rating and a $46.00 price target for the company. Wells Fargo & Company lifted their price target on TXNM Energy from $46.00 to $49.00 and gave the stock an “overweight” rating in a report on Wednesday, October 16th. Finally, Barclays lifted their price target on TXNM Energy from $45.00 to $46.00 and gave the stock an “overweight” rating in a report on Tuesday, October 15th.

TXNM Energy Trading Up 0.9 %

Shares of TXNM Energy stock traded up $0.37 on Monday, hitting $42.65. The stock had a trading volume of 816,634 shares, compared to its average volume of 932,700. TXNM Energy has a 52-week low of $34.63 and a 52-week high of $45.88. The company has a current ratio of 0.47, a quick ratio of 0.37 and a debt-to-equity ratio of 1.88. The firm has a market cap of $3.85 billion, a PE ratio of 46.46, a price-to-earnings-growth ratio of 6.33 and a beta of 0.36. The business has a 50 day moving average price of $42.78.

TXNM Energy (NYSE:TXNM) last posted its earnings results on Friday, November 1st. The company reported $1.43 earnings per share for the quarter, meeting the consensus estimate of $1.43. TXNM Energy had a return on equity of 10.15% and a net margin of 4.50%. The business had revenue of $569.30 million during the quarter, compared to the consensus estimate of $588.88 million. During the same period in the previous year, the business earned $1.54 EPS. The business’s quarterly revenue was up 12.5% on a year-over-year basis. Analysts predict that TXNM Energy will post 2.71 EPS for the current fiscal year.

TXNM Energy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 8th. Investors of record on Monday, October 28th will be given a $0.3875 dividend. This represents a $1.55 annualized dividend and a yield of 3.63%. The ex-dividend date of this dividend is Monday, October 28th. TXNM Energy’s dividend payout ratio (DPR) is presently 170.33%.

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.