TXNM Energy (NYSE:TXNM) Posts Earnings Results, Meets Estimates

TXNM Energy (NYSE:TXNM) released its quarterly earnings data 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 firm had revenue of $569.30 million for the quarter, compared to the consensus estimate of $588.88 million. During the same quarter in the previous year, the firm earned $1.54 earnings per share. The firm’s revenue 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 Stock Performance

NYSE TXNM traded down $1.26 during trading hours on Friday, hitting $42.28. 1,136,682 shares of the company’s stock were exchanged, compared to its average volume of 933,248. The company has a quick ratio of 0.37, a current ratio of 0.47 and a debt-to-equity ratio of 1.88. The firm has a market capitalization of $3.81 billion, a price-to-earnings ratio of 47.85, a P/E/G ratio of 6.24 and a beta of 0.36. The stock has a 50 day simple moving average of $42.75. TXNM Energy has a 12-month low of $34.63 and a 12-month high of $45.88.

TXNM Energy Announces Dividend

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

Analyst Ratings Changes

TXNM has been the subject of several research reports. Barclays lifted their price objective on 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 increased their price objective on shares of TXNM Energy from $46.00 to $49.00 and gave the company an “overweight” rating in a research note on Wednesday, October 16th. Jefferies Financial Group assumed coverage on shares of TXNM Energy in a research report on Wednesday, October 2nd. They set a “buy” rating and a $50.00 target price for the company. Finally, Scotiabank initiated coverage on shares of TXNM Energy in a report on Thursday, October 10th. They issued a “sector perform” rating and a $46.00 price target on the stock.

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.