TXNM Energy (NYSE:TXNM) Posts Earnings Results, Beats Expectations By $0.02 EPS

TXNM Energy (NYSE:TXNM) issued its quarterly earnings results on Friday. The company reported $0.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.56 by $0.02, FiscalAI reports. TXNM Energy had a net margin of 6.96% and a return on equity of 7.18%. The firm had revenue of $548.55 million for the quarter, compared to analyst estimates of $567.00 million.

TXNM Energy Price Performance

NYSE:TXNM traded down $0.04 during mid-day trading on Friday, reaching $57.93. The stock had a trading volume of 1,000,122 shares, compared to its average volume of 1,356,333. The company has a debt-to-equity ratio of 1.46, a current ratio of 0.55 and a quick ratio of 0.36. TXNM Energy has a 12 month low of $55.64 and a 12 month high of $59.53. The stock has a market capitalization of $6.41 billion, a PE ratio of 41.68, a P/E/G ratio of 2.49 and a beta of 0.17. The stock has a 50-day simple moving average of $57.76 and a two-hundred day simple moving average of $58.55.

TXNM Energy Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 14th. Investors of record on Monday, August 3rd will be given a dividend of $0.4225 per share. The ex-dividend date is Monday, August 3rd. This represents a $1.69 annualized dividend and a dividend yield of 2.9%. TXNM Energy’s dividend payout ratio (DPR) is currently 121.58%.

Analyst Upgrades and Downgrades

Several research firms have recently commented on TXNM. Wall Street Zen downgraded TXNM Energy from a “hold” rating to a “sell” rating in a report on Sunday, July 5th. Weiss Ratings restated a “hold (c)” rating on shares of TXNM Energy in a research note on Friday, May 29th. Three research analysts have rated the stock with a Hold rating, According to MarketBeat, TXNM Energy presently has an average rating of “Hold” and an average target price of $61.25.

Institutional Trading of TXNM Energy

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Los Angeles Capital Management LLC acquired a new position in TXNM Energy in the 4th quarter worth about $27,000. Kestra Advisory Services LLC bought a new stake in shares of TXNM Energy during the fourth quarter worth about $74,000. Smartleaf Asset Management LLC grew its holdings in shares of TXNM Energy by 23.0% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,262 shares of the company’s stock worth $74,000 after purchasing an additional 236 shares during the last quarter. Larson Financial Group LLC increased its stake in shares of TXNM Energy by 81.8% in the third quarter. Larson Financial Group LLC now owns 1,385 shares of the company’s stock valued at $78,000 after buying an additional 623 shares during the period. Finally, EverSource Wealth Advisors LLC raised its holdings in TXNM Energy by 215.1% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,528 shares of the company’s stock valued at $86,000 after buying an additional 1,043 shares during the last quarter. Institutional investors own 91.68% of the company’s stock.

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. 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.