TXNM Energy (NYSE:TXNM) Issues Quarterly Earnings Results, Misses Expectations By $0.12 EPS

TXNM Energy (NYSE:TXNM) announced its quarterly earnings results on Friday. The company reported $0.48 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.60 by ($0.12), FiscalAI reports. The company had revenue of $533.23 million during the quarter, compared to analyst estimates of $593.29 million. TXNM Energy had a net margin of 8.67% and a return on equity of 7.20%.

TXNM Energy Stock Down 0.2%

NYSE:TXNM traded down $0.11 during mid-day trading on Friday, reaching $59.05. The stock had a trading volume of 1,234,392 shares, compared to its average volume of 1,028,681. The company has a market capitalization of $6.43 billion, a price-to-earnings ratio of 34.53, a price-to-earnings-growth ratio of 2.54 and a beta of 0.16. TXNM Energy has a 1-year low of $47.21 and a 1-year high of $59.52. The stock’s 50 day simple moving average is $59.07 and its two-hundred day simple moving average is $57.87. The company has a debt-to-equity ratio of 1.35, a current ratio of 0.51 and a quick ratio of 0.36.

TXNM Energy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 15th. Stockholders of record on Monday, April 27th will be given a dividend of $0.4225 per share. The ex-dividend date of this dividend is Monday, April 27th. This represents a $1.69 annualized dividend and a dividend yield of 2.9%. TXNM Energy’s dividend payout ratio (DPR) is presently 98.83%.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on TXNM shares. Wall Street Zen upgraded TXNM Energy from a “sell” rating to a “hold” rating in a research note on Saturday, February 21st. Weiss Ratings restated a “hold (c+)” rating on shares of TXNM Energy in a report on Monday, December 29th. One analyst has rated the stock with a Buy rating and six have issued a Hold rating to the company. According to MarketBeat, TXNM Energy presently has a consensus rating of “Hold” and a consensus price target of $59.30.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the company. Balyasny Asset Management L.P. increased its holdings in shares of TXNM Energy by 344.9% in the 3rd quarter. Balyasny Asset Management L.P. now owns 4,042,301 shares of the company’s stock valued at $228,592,000 after acquiring an additional 3,133,794 shares during the last quarter. Sona Asset Management US LLC boosted its holdings in TXNM Energy by 10.3% in the fourth quarter. Sona Asset Management US LLC now owns 1,834,874 shares of the company’s stock worth $108,037,000 after purchasing an additional 171,044 shares during the period. Adage Capital Partners GP L.L.C. increased its stake in TXNM Energy by 83.1% during the second quarter. Adage Capital Partners GP L.L.C. now owns 1,762,758 shares of the company’s stock valued at $99,279,000 after purchasing an additional 800,258 shares during the last quarter. Pentwater Capital Management LP raised its holdings in shares of TXNM Energy by 38.7% during the fourth quarter. Pentwater Capital Management LP now owns 1,651,000 shares of the company’s stock worth $97,211,000 after purchasing an additional 461,000 shares during the period. Finally, Northern Trust Corp raised its holdings in shares of TXNM Energy by 1.8% during the third quarter. Northern Trust Corp now owns 1,196,845 shares of the company’s stock worth $67,682,000 after purchasing an additional 20,883 shares during the period. Institutional investors own 91.68% of the company’s stock.

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.