TXNM Energy (NYSE:TXNM) Posts Earnings Results, Hits Expectations

TXNM Energy (NYSE:TXNM) released its earnings results on Friday. The company reported $1.43 EPS for the quarter, hitting analysts’ consensus estimates of $1.43, RTT News reports. TXNM Energy had a net margin of 4.50% and a return on equity of 10.15%. The business had revenue of $569.30 million for the quarter, compared to the consensus estimate of $588.88 million. During the same period in the previous year, the firm earned $1.54 EPS. The business’s revenue for the quarter was up 12.5% on a year-over-year basis. TXNM Energy updated its FY24 guidance to $2.70-2.75 EPS and its FY 2024 guidance to 2.700-2.750 EPS.

TXNM Energy Price Performance

TXNM Energy stock opened at $42.28 on Friday. The stock has a 50 day moving average price of $42.78. The stock has a market capitalization of $3.81 billion, a P/E ratio of 46.46, a P/E/G ratio of 6.33 and a beta of 0.36. The company has a debt-to-equity ratio of 1.88, a quick ratio of 0.37 and a current ratio of 0.47. TXNM Energy has a fifty-two week low of $34.63 and a fifty-two week high of $45.88.

TXNM Energy Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 8th. Stockholders of record on Monday, October 28th will be given a $0.3875 dividend. This represents a $1.55 annualized dividend and a dividend yield of 3.67%. The ex-dividend date is Monday, October 28th. TXNM Energy’s dividend payout ratio (DPR) is currently 170.33%.

Analyst Upgrades and Downgrades

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

About TXNM Energy

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.