TXNM Energy, Inc. (NYSE:TXNM) Plans Dividend Increase – $1.15 Per Share

TXNM Energy, Inc. (NYSE:TXNM) announced a quarterly dividend on Thursday, May 21st. Stockholders of record on Tuesday, June 30th will be paid a dividend of 1.145 per share on Wednesday, July 15th. This represents a c) annualized dividend and a dividend yield of 7.7%. The ex-dividend date is Tuesday, June 30th. This is a 171.0% increase from TXNM Energy’s previous quarterly dividend of $0.42.

TXNM Energy has increased its dividend payment by an average of 0.1%per year over the last three years.

TXNM Energy Price Performance

Shares of TXNM opened at $59.45 on Friday. TXNM Energy has a fifty-two week low of $56.17 and a fifty-two week high of $59.52. The company has a market capitalization of $6.58 billion, a price-to-earnings ratio of 42.77, a price-to-earnings-growth ratio of 2.57 and a beta of 0.16. The firm has a 50-day simple moving average of $58.90 and a 200-day simple moving average of $58.75. The company has a debt-to-equity ratio of 1.46, a quick ratio of 0.36 and a current ratio of 0.55.

TXNM Energy (NYSE:TXNM) last announced its earnings results on Friday, May 1st. The company reported $0.21 earnings per share for the quarter, missing the consensus estimate of $0.30 by ($0.09). TXNM Energy had a return on equity of 7.18% and a net margin of 6.96%.The business had revenue of $504.98 million for the quarter, compared to analyst estimates of $506.24 million. During the same quarter last year, the company posted $0.19 EPS. TXNM Energy’s quarterly revenue was up 4.6% on a year-over-year basis. On average, equities research analysts anticipate that TXNM Energy will post 3.07 earnings per share for the current year.

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. The segment owns and leases communications, office and other equipment, office space, vehicles, and real estate. It generates electricity using coal, natural gas and oil, and nuclear fuel and waste, as well as solar, wind, geothermal, and battery storage energy sources.