Scotiabank Weighs in on TXNM Energy FY2024 Earnings

TXNM Energy, Inc. (NYSE:TXNM) – Analysts at Scotiabank issued their FY2024 earnings estimates for TXNM Energy in a report released on Wednesday, January 8th. Scotiabank analyst A. Weisel anticipates that the company will earn $2.72 per share for the year. Scotiabank currently has a “Sector Perform” rating and a $52.00 target price 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 equities research analysts have also recently commented on TXNM. Barclays raised their target price on TXNM Energy from $46.00 to $52.00 and gave the company an “overweight” rating in a research report on Friday, November 29th. Jefferies Financial Group initiated coverage on TXNM Energy in a research report on Wednesday, October 2nd. They issued a “buy” rating and a $50.00 price objective for the company. Wells Fargo & Company increased their target price on TXNM Energy from $49.00 to $53.00 and gave the company an “overweight” rating in a research report on Tuesday, November 26th. Finally, Citigroup boosted their price target on shares of TXNM Energy from $45.00 to $53.00 and gave the stock a “neutral” rating in a report on Thursday, December 12th. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $52.00.

TXNM Energy Price Performance

NYSE:TXNM opened at $46.50 on Monday. The stock has a market cap of $4.19 billion, a price-to-earnings ratio of 24.22, a price-to-earnings-growth ratio of 6.07 and a beta of 0.40. The company has a debt-to-equity ratio of 1.80, a quick ratio of 0.27 and a current ratio of 0.36. The company’s 50 day moving average price is $47.79. TXNM Energy has a 1-year low of $34.63 and a 1-year high of $50.28.

TXNM Energy (NYSE:TXNM) last issued its quarterly earnings data on Friday, November 1st. The company reported $1.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.41 by $0.02. TXNM Energy had a return on equity of 9.69% and a net margin of 9.26%. The business had revenue of $569.30 million during the quarter, compared to analysts’ expectations of $588.88 million. During the same quarter in the previous year, the firm posted $1.54 EPS. The company’s revenue for the quarter was up 12.5% on a year-over-year basis.

TXNM Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Friday, January 31st will be issued a $0.4075 dividend. This is an increase from TXNM Energy’s previous quarterly dividend of $0.39. The ex-dividend date of this dividend is Friday, January 31st. This represents a $1.63 dividend on an annualized basis and a yield of 3.51%. TXNM Energy’s dividend payout ratio 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.