TXNM Energy Updates FY24 Earnings Guidance

TXNM Energy (NYSE:TXNM) has provided an update on its earnings guidance for the fiscal year 2024. The company announced that it expects earnings per share (EPS) to be in the range of $2.70 to $2.75. This forecast is slightly higher than the consensus estimate from analysts, which stands at $2.72.

TXNM Energy Price Performance

On Monday, shares of TXNM Energy opened at $49.33. The company's financial ratios include a quick ratio of 0.27, a current ratio of 0.36, and a debt-to-equity ratio of 1.80. Over the last fifty days, the stock has had a moving average price of $45.44. TXNM Energy has experienced a low of $34.63 and a high of $50.28 over the past year. At present, the company holds a market capitalization of $4.45 billion, a P/E ratio of 25.69, a P/E/G ratio of 6.09, and a beta of 0.40.

TXNM Energy last reported its earnings results on November 1st. The company achieved earnings of $1.43 per share for the quarter, surpassing analysts' expectations of $1.41 by $0.02. The reported revenue for this period was $569.30 million, relatively close to the $588.88 million that analysts had predicted. The business generated a return on equity of 9.69% and maintained a net margin of 9.26%. When compared year-over-year, the quarterly revenue has increased by 12.5%. During the same quarter last year, TXNM Energy reported earnings of $1.54 per share. Analysts currently expect earnings of $2.72 per share for the year.

TXNM Energy Increases Dividend

In other news, TXNM Energy also announced an increase in its quarterly dividend, which will be distributed on February 14th. Shareholders who are recorded by January 31st will receive a dividend of $0.4075 per share, up from the previous quarterly dividend of $0.39. This change reflects an annualized dividend of $1.63 and results in a yield of 3.30%. Notably, the dividend payout ratio is at 80.73% for the company.

Wall Street Analyst Insights

Several analysts recently published their opinions on TXNM Energy. Jefferies Financial Group initiated coverage with a “buy” rating and set a target price of $50.00. Scotiabank also commenced coverage, rating the stock as “sector perform” with a target price of $46.00. Furthermore, Wells Fargo & Company raised their price target from $49.00 to $53.00 while giving TXNM Energy an “overweight” rating. Similarly, Barclays increased their price objective from $46.00 to $52.00, also reflecting an “overweight” rating.

About TXNM Energy

TXNM Energy, Inc., through its subsidiaries, is a provider of electricity and electric services throughout the United States. The company operates through two main segments: Public Service Company of New Mexico (PNM) and Texas-New Mexico Power Company (TNMP). The PNM segment focuses on the generation, transmission, and distribution of electricity.

TXNM, Earnings, Stock