TXNM Energy, Inc. (NYSE:TXNM) Declares Dividend Increase – $0.41 Per Share

TXNM Energy, Inc. (NYSE:TXNM) announced a quarterly dividend on Tuesday, December 3rd,RTT News reports. Stockholders of record on Friday, January 31st will be given a dividend of 0.4075 per share on Friday, February 14th. This represents a $1.63 dividend on an annualized basis and a dividend yield of 3.30%. This is an increase from TXNM Energy’s previous quarterly dividend of $0.39.

TXNM Energy Stock Up 0.8 %

TXNM traded up $0.39 during trading on Tuesday, hitting $49.44. The company had a trading volume of 589,155 shares, compared to its average volume of 930,731. The company has a debt-to-equity ratio of 1.80, a current ratio of 0.36 and a quick ratio of 0.27. TXNM Energy has a one year low of $34.63 and a one year high of $49.76. The stock has a market capitalization of $4.46 billion, a P/E ratio of 25.75, a PEG ratio of 6.05 and a beta of 0.40. The stock has a 50-day moving average of $45.05.

TXNM Energy (NYSE:TXNM) last issued its quarterly earnings results on Friday, November 1st. The company reported $1.43 EPS for the quarter, beating the consensus estimate of $1.41 by $0.02. The firm had revenue of $569.30 million during the quarter, compared to analysts’ expectations of $588.88 million. TXNM Energy had a return on equity of 9.69% and a net margin of 9.26%. The business’s quarterly revenue was up 12.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.54 earnings per share. Sell-side analysts forecast that TXNM Energy will post 2.72 earnings per share for the current year.

Wall Street Analysts Forecast Growth

TXNM has been the topic of a number of research analyst reports. Scotiabank began coverage on shares of TXNM Energy in a research report on Thursday, October 10th. They set a “sector perform” rating and a $46.00 price target on the stock. Jefferies Financial Group started coverage on TXNM Energy in a research report on Wednesday, October 2nd. They issued a “buy” rating and a $50.00 target price on the stock. Wells Fargo & Company boosted their target price on shares of TXNM Energy from $49.00 to $53.00 and gave the company an “overweight” rating in a research note on Tuesday, November 26th. Finally, Barclays lifted their price objective on shares of TXNM Energy from $46.00 to $52.00 and gave the company an “overweight” rating in a research note on Friday.

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.