TXNM Energy (NYSE:TXNM) Releases FY24 Earnings Guidance

TXNM Energy (NYSE:TXNM) 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.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. Wells Fargo & Company lifted their price target on TXNM Energy from $49.00 to $53.00 and gave the company an “overweight” rating in a report on Tuesday, November 26th. Jefferies Financial Group started coverage on TXNM Energy in a research report on Wednesday, October 2nd. They set a “buy” rating and a $50.00 price target for the company. Barclays increased their price target on TXNM Energy from $46.00 to $52.00 and gave the stock an “overweight” rating in a research note on Friday, November 29th. Citigroup lifted their price objective on shares of TXNM Energy from $45.00 to $53.00 and gave the company a “neutral” rating in a research note on Thursday, December 12th. Finally, Scotiabank raised their target price on shares of TXNM Energy from $46.00 to $52.00 and gave the company a “sector perform” rating in a research note on Thursday, December 12th. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $52.00.

TXNM Energy Stock Performance

TXNM opened at $47.24 on Thursday. The company has a quick ratio of 0.27, a current ratio of 0.36 and a debt-to-equity ratio of 1.80. The company has a market cap of $4.26 billion, a P/E ratio of 24.60, a PEG ratio of 6.07 and a beta of 0.40. The stock has a fifty day moving average price of $47.63. TXNM Energy has a one year low of $34.63 and a one year high of $50.28.

TXNM Energy (NYSE:TXNM) last issued its quarterly earnings results on Friday, November 1st. The company reported $1.43 earnings per share 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 company had revenue of $569.30 million during the quarter, compared to the consensus estimate of $588.88 million. During the same period in the prior year, the company earned $1.54 EPS. TXNM Energy’s revenue was up 12.5% on a year-over-year basis. On average, equities research analysts forecast that TXNM Energy will post 2.72 EPS for the current fiscal year.

TXNM Energy Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Friday, January 31st will be issued a dividend of $0.4075 per share. This represents a $1.63 dividend on an annualized basis and a yield of 3.45%. This is a boost 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 presently 84.90%.

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.