Analysts Set Expectations for TXNM Energy FY2024 Earnings

TXNM Energy, Inc. (NYSE:TXNM) – Investment analysts at Scotiabank issued their FY2024 EPS estimates for shares of TXNM Energy in a note issued to investors on Wednesday, January 8th. Scotiabank analyst A. Weisel expects that the company will post earnings of $2.72 per share for the year. Scotiabank has a “Sector Perform” rating and a $52.00 price objective on the stock. The consensus estimate for TXNM Energy’s current full-year earnings is $2.72 per share. Scotiabank also issued estimates for TXNM Energy’s FY2025 earnings at $2.80 EPS and FY2026 earnings at $3.04 EPS.

A number of other research analysts also recently commented on the stock. Barclays boosted their price objective on shares of TXNM Energy from $46.00 to $52.00 and gave the company an “overweight” rating in a research report on Friday, November 29th. Citigroup upped their price target on shares of TXNM Energy from $45.00 to $53.00 and gave the stock a “neutral” rating in a research note on Thursday, December 12th. 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 objective for the company. Finally, Wells Fargo & Company upped their target price on TXNM Energy from $49.00 to $53.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 26th. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $52.00.

TXNM Energy Price Performance

NYSE:TXNM opened at $46.87 on Monday. The firm’s 50-day simple moving average is $47.87. The company has a current ratio of 0.36, a quick ratio of 0.27 and a debt-to-equity ratio of 1.80. The stock has a market cap of $4.23 billion, a PE ratio of 24.41, a PEG ratio of 6.07 and a beta of 0.40. TXNM Energy has a fifty-two week low of $34.63 and a fifty-two week 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. The business had revenue of $569.30 million for the quarter, compared to the consensus estimate of $588.88 million. TXNM Energy had a return on equity of 9.69% and a net margin of 9.26%. TXNM Energy’s revenue for the quarter was up 12.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.54 earnings per share.

TXNM Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Friday, January 31st will be paid a $0.4075 dividend. This represents a $1.63 annualized dividend and a dividend yield of 3.48%. The ex-dividend date is Friday, January 31st. This is a positive change from TXNM Energy’s previous quarterly dividend of $0.39. TXNM Energy’s payout ratio is presently 84.90%.

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.